Wash Trades

"Wash Trades" are transactions where a party individually, or in collusion with another, attempts to generate interest in a particular security, which typically trades with limited liquidity. Wash Trades may also be used to circumvent short-sale rules or manipulate pricing.

This report is intended to identify instances where traders may have inadvertently or intentionally crossed their trades or those of another party. Currently, the parameters for the report are:

• Equities must have less than 5,000,000 shares volume on the exchange (not your instance) for that day. If daily volume is unknown, the security will be checked.  (Versions prior to 1.5.98.33 used a 3 million share thresh-hold)
• Accounts to be checked must have profit/loss calculations enabled.
• Executions for review must be marked "REGULAR" (i.e. journal entries, corporate actions, buy-ins and assignments will not be checked).
• Executions must occur at the same time, have the same price, quantity and destination.

Examples (assuming XYZ is a low volume security):