The Surveillance Department of the Market Regulation Department ensures that the Exchange is meeting its oversight responsibilities by conducting daily and other routine surveillance of trading activity on the facilities of the Exchange. Surveillance personnel make use of Exchange surveillance systems in performing their reviews. Investigators in the Surveillance Department focus their efforts on ensuring compliance with various Exchange rules by CHX-registered Institutional Brokers and Market Makers. Particular areas of emphasis include the Article 17 provisions as to Institutional Brokers and the Article 16 provisions governing the conduct of Market Makers. Additionally, Surveillance investigators also conduct regular reviews trading activity within the Exchange’s Matching System for various forms of manipulative or deceptive conduct. The Surveillance Department also reviews trading activity on the Exchange for potential violations of insider trading prohibitions. Indications of potential violations may be referred to the Enforcement Department for ultimate disposition.