7.01 While trade reporting is concerned with the price formation process, the purpose of the transaction reporting regime is primarily to enable the regulator to identify and evidence market abuse, insider trading, and market manipulation. A transaction report is a data set submitted to the UK’s Financial Services Authority (FSA) containing information about the beneficial account and counterparties to a trade, as well as the time, price, quantity, instrument characteristics, and trading capacity. Accurate and complete transaction reporting is essential to enable...
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