Describe the important changes that have occurred in stock markets over the last decade.

(Select all the choices thatapply.)

A.

Markets have become more fragmented.

B.

Stocks no longer predominantly trade on the markets on which they are listed.

C.

Off-exchange transactions in dark pools are now much more common.

D.

The stock market is now an exclusive club in which only brokers and rich people make money.

E.

Official market makers have largelydisappeared, replaced now by the limit order book.

F.

Having just a little knowledgelong dash

because of the limit order booklong dash

is enough to invest in the stock market.