Which of the following replaced the role of specialists on the floor of the NYSE exchange?
A)floor brokers
B)designated market makers
C)supplemental liquidity providers
D)exchange traders
E)pit bulls

Question

Quizplus · Accepted Answer

Designated market makers (DMMs) replaced the role of specialists on the floor of the NYSE. DMMs are responsible for maintaining fair and orderly markets for assigned securities by managing an order book, executing trades, and providing liquidity. Floor brokers execute orders on behalf of clients, while supplemental liquidity providers and exchange traders are other market participants who facilitate trading but do not replace specialists. "Pit bulls" is not a recognized term in the context of the NYSE.

Which of the Following Replaced the Role of Specialists on the Floor