The detection rate is the share of actual violations that are found. It is unknown for market manipulation, and it is unknowable from enforcement data alone — which is why this site never presents case counts as a measure of how much manipulation occurs.
data and analysis · updated 2026-09-23
See also
Selection bias— Selection bias arises when the process producing a dataset is related to what the data is being used to measure. Regulators choose…
Base rate— The base rate is the underlying frequency of an event in a population. Because manipulation is rare relative to total order flow, …
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