Which of the following statements about stock markets is not true?
A.
Many of the stock markets are organized as private bourses.
B.
On most markets, stocks are traded on a cash basis, and transactions are settled within a two-to fiv
C.
The central electronic limit order book is the hub of those automated markets that are price-driven.
D.
An auction market, such as the Paris Bourse, is also known as an order-driven market.