Surveillance, in a market context, is the automated monitoring of order and trade data for patterns that suggest abuse. Exchanges, self-regulatory organisations and regulators each run their own, and most enforcement actions begin with an exchange alert.
market microstructure · updated 2026-10-16
See also
Order audit trail— An order audit trail is the complete, timestamped, attributed record of every order message sent to a venue. It is the evidentiary…
Cross-market surveillance— Cross-market surveillance joins data from several venues or several instruments to detect schemes that are invisible in any one of…
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