a bond market in which a communications network matches buy and sell orders initiated from various locations is best described as an:

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An over-the-counter (OTC) market is a bond market in which trades occur directly between two parties without the use of an organized exchange. The use of a communications network to match buy and sell orders from various locations is a characteristic of an OTC market. This type of market is less formal and less regulated than an organized exchange. Open market operations involve the buying and selling of government securities by the Federal Reserve, and organized exchanges are formal markets where securities are traded through a centralized trading platform.

A Bond Market in Which a Communications Network Matches Buy