14. Which of the following was offered as evidence of collusion among market makers in NASDAQ?

1. A small number of dealers in a stock
2. Dealers were caught negotiating with brokers on bid-ask spreads.
3. Substantial increases in stock prices in the post IPO period.

D. Absence of even-eighth quotes.

E Absence of quotes involving odd-eighths.

15. Which of the following is a disadvantage of using ECNs?

A Absence of standardization among different ECNs

B. Impartial treatment of orders

C. Lowered spreads

D Improved information flow

E Faster execution