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Define the in- order-driven according to trade intermediation.
In- order-driven markets:
In order-driven markets, buyers and sellers trade unswervingly without any intermediation. Many order-driven markets are auction markets. In trading rules formalise the procedure by that buyers seek the lowest accessible prices and sellers seek the highest accessible prices (i.e., price discovery procedure).
Six years ago . the singleton company sold a 20 year bond with a 14% annual coupon rate and a 9% call premium. today, singleton called the bonds. the bonds originally were sold at
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