The Main Difference Between Exchanges and Dealer/OTC Markets Is

Multiple Choice

The main difference between exchanges and dealer/OTC markets is

A) exchanges are a part of the primary market, while dealer and OTC markets are part of the secondary market.
B) transactions in dealer markets are conducted entirely by humans, not electronically.
C) exchanges have a physical location while dealer and OTC markets do not.
D) All of the above are differences between exchanges and dealer markets.