During the 1990s, the SEC Continued Its Emphasis on Greater

Multiple Choice

During the 1990s, the SEC continued its emphasis on greater quote and price transparency. In this regard, the SEC instituted new order handling rules in 1997. These rules include: ________.

A) any market-maker who held a customer order had to display that order in their quote.
B) a market-maker could place a more aggressive quote in an ECN, if the ECN displayed the top of its book in the Nasdaq quote montage.
C) if the ECN's own best quote was not shown in the quote montage, then the market-maker had to update its own quote in Nasdaq to match the ECN quote.
D) All of these