Question: Explain the key differences between order-driven markets and quote-driven markets. How do these two market structures differ in terms of liquidity provision, market protocols, price

Explain the key differences between order-driven markets and quote-driven markets. How do these two market structures differ in terms of liquidity provision, market protocols, price discovery and transparency. Which market structure do you think market participants generally prefer? Provide a justification for your answer. Use your own words.

Limit your response to 500 words.

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