Which of the following statements is true with respect to organized securities exchanges?

Question

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Organized exchanges operate as "auction" markets, where buyers and sellers come together to trade securities through a centralized trading platform. This is different from over-the-counter (OTC) markets where trading occurs directly between parties without a centralized exchange. The other options are incorrect: A) organized exchanges are not sole proprietorships but rather are typically owned by their members or shareholders; C) stocks traded on exchanges are referred to as listed securities, not unlisted securities; and D) trades on exchanges are conducted through brokers who act as agents, not insurance brokers.

Which of the Following Statements Is True with Respect to Organized