The process of formation of nanoparticles obtained by mixing two micellized, aqueous solutions has been simulated using the Monte Carlo technique. The model includes the phenomena of finite reaction, nucleation, and growth via intermicellar exchange. This exploratory study examines the characteristic particle size distributions (PSDs) that result from using combinations of different initial reactant distributions (Poissonian and geometric) and different types of intermicellar exchange protocols (random, cooperative, and binomial). It is observed that the PSDs obtained using an initial Poissonian distribution of reactants and random exchange rules are similar to reported experimental results for CdS nanoparticles. The effect of exchange efficiency and reaction rate has also been studied. It is seen that a high exchange efficiency leads to relatively larger particle sizes. Also, a slow reaction rate has been shown to lead to the formation of larger nanoparticles.