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FINRA Series 7

Category - Series 7

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Bubba Brokerage Corporation announces through its wire system that it has a large block of stock for sale. Customers purchasing the stock will not pay a commission. The block is crossed on the NYSE floor and is printed on the NYSE tape. This is called a:

special order
exchange distribution
secondary distribution
specialist block purchase

Explanation

Answer: B - exchange distribution. An exchange distribution is a large block sold internally by one firm that is crossed on the floor of the exchange. The trade would print on the tape identified by the letters “DIST”.

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FINRA Series 7

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FINRA Series 7

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