exchange question

Curious as to what others think: In securities exchange markets the person most likely to execute stop loss orders is: a. floor broker b. market maker c. registered trader d. commission broker I answered A and was wrong, it’s B. Has something changed that I missed as I used to be a market maker at the CBOE and only floor brokers held orders.

b. market maker. i remember reading this in the cfai book. they describe a market maker as a specialist. specialist has two main functions: 1. add liquidity to the market by matching buy/sell orders 2. handle special limit orders placed by member brokers. a broker receives a limit order leaves and unloads it to the specialist, who handles it from there.