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Surveillance

The Surveillance Unit 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 and Analysts in the Surveillance Unit focus their efforts on ensuring compliance with various Exchange rules by CHX-registered Institutional Brokers, Market Makers and Order Sending Firms. Particular areas of emphasis include CHX Article 17 provisions pertaining to Institutional Brokers and CHX Article 16 provisions governing the conduct of Market Makers. Additionally, Surveillance also conducts regular reviews of trading activity within the Exchange’s Matching System for various forms of manipulative or deceptive conduct. Findings of potential violations may be referred to the CHX Enforcement Department or other appropriate regulators for ultimate disposition.