Cross-Market Supervision Report Cards
The Cross-Market Equities Supervision Manipulation Reports provide firms feedback on exceptions that were generated based on firms' order entries and trading activities in a given surveillance period. These reports are designed to assist firms with monitoring their supervision for trading behaviors that may be designed to manipulate the market.
The Cross Market Equities Supervision Report Cards are suspended, effective with the July 2021 review period, while we explore enhancements. Historical data for June 2021 and prior review periods will continue to be available. For any questions, contact the Report Center Administrator.
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.
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.
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.