Which of the following statements regarding transactions in the different securities markets are TRUE?
I. Transactions in listed securities occur mainly in the OTC market.
II. Transactions in unlisted securities occur in the OTC market.
III. Transactions in listed securities that occur in the OTC market are said to take place in the fourth market.
IV. Transactions in listed securities that occur directly between institutions without the use of broker/dealers as intermediaries are said to take place in the fourth market.
A) I and III.
B) I and IV.
C) II and III.
D) II and IV.
Answer: D) II and IV.