Which of the following statements is true about secondary markets in the United States? In terms of total stock value of the furms listed, the NASDAQ is the largest stock exchange in the world and the NYSE is the second largest. In the United States, most secondary market transactions are done over the counter. Firms listed on the NASDAQ tend to be, on average, larger in size, and their shares trade more frequently than those traded ON NYSE. NASDAQ is an OTC (over-the-counter) market