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Self Trade Prevention

Self trade prevention is an optional order feature that prevents two orders from the same Participating Organization or member Firm from executing against each other based on unique trading keys defined by the Participant/Member. An active order will be rejected if it would otherwise trade against a resting order from the same Participant/Member with the same unique trading key.

This feature provides more opportunities for individuals to participate on both sides of the market without unintentionally violating 'wash trading' rules described in UMIR 2.2. Rules permit individuals to place buy and sell orders on a market for a given stock at the same price so long as that individual only trades with others and does not cross his own orders. Preventing self trading ensures there is no misleading appearance of additional trading in a stock.

See the Self Trade Prevention product sheet

For detailed instructions see our specifications in the Secure Documentation Portal.