Which of the below statements is FALSE?
A) The NYSE defines block as trades of either at least 10,000 shares of a given stock or trades of shares with a market value of at least $200,000.
B) When sales traders find enough institutions to take an entire block, then the balance of the block trade order is given to the brokerage firm's market maker.
C) Program trades involve the buying and/or selling of a large number of names simultaneously.
D) The two major applications of program trades are asset allocation and index arbitrage.
Correct Answer:
Verified
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