Exercise
Fill in the blank.
1. When the firm acts as a dealer, it is a/n _____ transaction.
2. A group of municipals dealers teams up to purchase and sell a large block of municipal securities. They will form a/n _____ account.
3. The secondary market for dealers is also known as a/n _____ market.
4. If the firm is acting as a go-between for the buyer and seller, then this is a/n _____ transaction.
5. _____ are dealers that buy and sell out of their own inventory and post bid and ask prices.
6. A municipal bond dealer that specializes in brokering transactions for other municipals dealers is a/n _____.
7. An investment made to reduce the risk of an adverse price movement in a security is also