Which of the following is true about market fragmentation (1 Point) Fragmentation can lead to increasing complexity Fragmentation and Innovation can lead to lower costs Fragmentation always leads to lower costs Fragmentation always leads to higher costs Financial markets have low barriers to entry Which statements are true about trading in 2020? * (1 Point) Trading volumes in 2020 are much higher than historically Trading volumes in 2020 are much lower than historically Unexpected global events has increased volatility in the market Unexpected global events has decreased volatility in the market Why might a Smart Order Router choose to send its order to Chi-X first? (1 Point) Chi-X has more stocks trading on its exchange Chi-X has more liquidity Chi-X has more participants connected Chi-X has lower trading fees Which of these statements is false for the Exchange business model? (1 Point) Orders generate trades which output market data Investors use market data to make trade decisions Corporations list to obtain capital Investors pay corporations for listing stocks Exchanges pay corporations for market data