The CBOE’s market structure is a hybrid of the NYSE and NASDAQ.
I get how the CBOE’s market structure is similar to NYSE’s with the DPM being similar to DMM but in what way is it similar to NASDAQ’s?
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Like NASDAQ, there are dozens of market makers that trade the same contracts with the investing public. This is in contrast to the NYSE, where there is a centralized market market (the DMM) that handles all trades in a given stock.
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