Cross-Market Supervision Report Cards
|Title and Description||Documentation|
|Cross-Market Equities Supervision: Potential Manipulation Report
This report provides firms feedback on exceptions that were generated based on firms' order entries and trading activities in a given surveillance period. The report covers layering and cross-market quote spoofing.
|Cross-Market Equities Supervision Manipulation: Potential ATS Cross Manipulation Report
The Report detects potential market manipulation where a market participant engages in a potential manipulation of the National Best Bid or Offer (NBBO), resulting in the modification of the security’s prevailing mid-point price on an ATS crossing venue. This activity provides an economic advantage to one side of an imminent cross transaction occurring at the modified mid-point price, where that advantage would not have been achieved absent the modification of the NBBO.
|Cross-Market Equities Supervision: Potential Auto Execution Manipulation Report
The Report detects potential market manipulation where a market participant places one or more orders on one side of the market to improve the National Best Bid or Offer (NBBO) of a security to a price that is beneficial to subsequent automatic executions of orders placed on the opposite side of the market. The orders placed on the opposite side of the market will be executed at a price than would not have otherwise been available absent the corresponding market moving orders.