Does a mistrade need to be reported by a participant to be declared a mistrade?

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Multiple Choice

Does a mistrade need to be reported by a participant to be declared a mistrade?

Explanation:
A mistrade is an erroneous trade identified by market surveillance or the exchange based on criteria like an anomalous price, size, or timing. It does not require a participant to report it in order to be declared; the authority can classify and cancel or adjust the trade on its own when the rules dictate. Participants may request a reversal or provide information, but that reporting isn’t a prerequisite for declaring a mistrade.

A mistrade is an erroneous trade identified by market surveillance or the exchange based on criteria like an anomalous price, size, or timing. It does not require a participant to report it in order to be declared; the authority can classify and cancel or adjust the trade on its own when the rules dictate. Participants may request a reversal or provide information, but that reporting isn’t a prerequisite for declaring a mistrade.

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