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A 1994 Study Concluded Dealers Were Colluding to Maintain Wide

question 38

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A 1994 study concluded dealers were colluding to maintain wide bid/ask spreads by concentrating market quotes in quarters instead of eighths.This study eventually led to new order handling rules that required quotes to be available to the public through:


Definitions:

Afferent Vessels

Blood vessels that carry blood towards an organ or tissue, including those supplying the glomeruli of the kidneys.

Capsule

A protective layer or structure, such as the fibrous covering of an organ or the gelatinous casing of a medication.

Human Chorionic Gonadotropin

A hormone produced by the placenta during pregnancy, often used in fertility treatments and as an indicator in pregnancy tests.

Pregnancy Antibodies

Proteins produced by the immune system during pregnancy that can interact with both the mother's and the fetus's tissues.

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