Hands Up! It's SWAT: NASD's Market Surveillance System
THIS WEEK'S LEAD STORIES
Following a four-month trial period, the National Association of Securities Dealers' StockWatch Automated Tracking (SWAT) market surveillance system is now in place, checking in real time for unusual trades in all 4,500 NASDAQ-listed stocks. The system uses statistical and behavioral indicators to alert NASD analysts to suspect trading activity.
SWAT has been designed to identify unusual movements in stocks' bid/ask, last-sale price and volume. It then analyzes those movements to generate "a
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