Dutch tulip mania is considered one of the first major financial bubbles. It occurred in 1636-37 when introduction of tulips imported from Turkey generated extremely high demand which led to an astronomical jump in prices. Tulips were first traded as forward contracts, but the government passed laws allowing certain contracts to be transformed to options contracts. Short selling was strictly prohibited. After the price of tulips rose so high that a single bulb exceeded the cost of an average home, the price collapsed, and many investors went bankrupt. Which of the features of exchange markets listed below would have helped to prevent or mitigate the tulip mania?