The NYSE Specialist (DMM) and Floor Trader system is the model for trading used by which of the following markets? I NASDAQ
II AMEX (NYSE American)
III PHLX
IV BATS

a. I and III
b. I and IV
c. II and III
d. II and IV

c. II and III

Explanation:

The New York Stock Exchange, NYSE Specialist (DMM) and Floor Trader system is the model for trading used by American Stock Exchange, AMEX (NYSE American) and Philadelphia Stock Exchange (PHLX).

However, National Association of Securities Dealers Automated Quotations (NASDAQ) isn't modeled after the NYSE Specialist (DMM) and Floor Trader system, rather it is based on an all electronic market. Also, Better Alternative Trading System (BATS) started as an Electronic Communications Network (ECN) and as such is typically an all electronic market, which has transformed magnificently into an exchange according to the Securities and Exchange Commission (SEC).

Hence, the American Stock Exchange, AMEX (NYSE American) and Philadelphia Stock Exchange (PHLX) uses a designated market maker (DMM) and Floor Trader system just like the New York Stock Exchange as their primary market maker.

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