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One of the reasons bonds are not traded on an exchange (they are traded over the counter) is because they are not standardized, unlike common

One of the reasons bonds are not traded on an exchange (they are traded over the counter) is because they are not standardized, unlike common stock. What makes bonds, even from the same issuer, so unique? Could perpetuities (i.e. bonds with an indefinite maturity date) increase bond standardization?

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