Trade Reporting Systems

What this video covers

• The chronological flow from execution to trade report to market and regulatory information, and why nothing happens before execution
• The exact definition of a quotation, including any bid, offer, or formula designed to induce a person to make or submit a bid or offer
• Why bid wanted and offer wanted are quotations even without a listed price
• The transaction-report standard: a member may publish a trade report only when the member believes the purchase or sale is bona fide
• The quotation standard: reasonable cause to believe a quotation is bona fide, not fictitious, and not published for a fraudulent, deceptive, or manipulative purpose
• Why the reporting system itself does not make content bona fide, and why willful ignorance is never a defense
• How to spot the four checklist items the exam writers use to bait you on test day