In order to preserve the integrity of the capital market and investor trust, within the scope of its competences laid down in the CMA, Regulation (EU) No 596/2014, other regulations and Progress Market Rules, the Exchange shall undertake surveillance of:
- trading on the Progress Market
- member firms
- issuers and
- advisers
The Exchange shall undertake surveillance of trading by:
- monitoring and analysing order entry and conclusion of Progress market transactions in all securities through the trading system;
- monitoring and analysing other data and information which may be relevant for the creation of deals and the terms under which they are done;
- trading suspensions when it becomes evident that trading can no longer be done on equal terms or that is not based on disclosed information;
- monitoring and analysing requests for trade cancellation;
- monitoring and analysing the initiation of volatility interruptions;
- taking action to prevent and detect market abuse, in accordance with Rules and any procedures laid down in Rules, in the provisions of the CMA, Regulation (EU) No 596/2014 and other regulations.
Trading surveillance shall be done using a computer surveillance system, which systematically collects and evaluates trading data and facilitates the necessary investigative action.
Where unusual orders, transactions or activities indicative of the possibility of market abuse are identified, depending on the circumstances of each particular case, the Exchange may:
- seek a response of the issuer, if necessary;
- seek a response of the member firm, if necessary;
- request from the member firm to provide order and/or transaction record data and other documentation;
- analyse historical data related to orders (quotes) and transactions and
- send the case analysis with its opinion and documentation to HANFA.
