# How Do Regulatory Bodies Monitor Block Trade Reporting Accuracy? ▴ Question

**Published:** 2025-09-06
**Categories:** Question

---

![Intersecting translucent blue blades and a reflective sphere depict an institutional-grade algorithmic trading system. It ensures high-fidelity execution of digital asset derivatives via RFQ protocols, facilitating precise price discovery within complex market microstructure and optimal block trade routing](https://options.greeks.live/wp-content/uploads/2025/07/precision-algorithmic-execution-infrastructure-for-institutional-digital-asset-derivatives-leveraging-advanced-rfq-protocols.jpg)

![A central, dynamic, multi-bladed mechanism visualizes Algorithmic Trading engines and Price Discovery for Digital Asset Derivatives. Flanked by sleek forms signifying Latent Liquidity and Capital Efficiency, it illustrates High-Fidelity Execution via RFQ Protocols within an Institutional Grade framework, minimizing Slippage](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-market-microstructure-rfq-protocol-optimization.jpg)

## The Sentinel Function of Trade Data Integrity

For an institutional principal navigating the complex currents of global markets, the precision of [trade reporting](https://prime.greeks.live/question/how-does-cat-reporting-for-rfqs-differ-from-reporting-for-lit-order-books/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) is not a bureaucratic formality; it is a foundational pillar of market integrity. Every [block trade](https://prime.greeks.live/question/what-are-the-key-differences-between-a-lit-market-block-trade-and-an-otc-block-trade/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), a significant transaction executed away from public order books, carries systemic weight. The regulatory imperative to monitor the accuracy of these reports stems from a deep understanding of their impact on price discovery, liquidity formation, and the prevention of market abuse. Regulators, functioning as the market’s central nervous system, process vast quantities of data to ensure that these substantial transactions reflect genuine economic activity and do not distort market perceptions or create opportunities for illicit gains.

The systemic function of [block trade reporting accuracy](https://prime.greeks.live/question/how-can-advanced-analytics-improve-the-accuracy-and-timeliness-of-block-trade-reporting/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) extends beyond mere compliance. It underpins the very trust participants place in market mechanisms. When large trades are reported with discrepancies, it introduces informational asymmetry, undermining the collective confidence in fair pricing and equitable access to market data. Regulators, therefore, deploy sophisticated oversight mechanisms designed to validate the veracity of each reported data point, recognizing that even minor inaccuracies can propagate through the market’s interconnected systems, eroding efficiency and increasing [systemic risk](https://prime.greeks.live/area/systemic-risk/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite).

> Accurate block trade reporting forms the bedrock of market integrity, enabling robust price discovery and preventing systemic distortions.

Understanding the intrinsic value of transparent and accurate block trade data is paramount for any firm aiming for superior execution. This information feeds into quantitative models, informs trading strategies, and influences risk management frameworks. Regulatory bodies, through their meticulous monitoring, effectively act as guardians of this critical data flow, ensuring that the market’s informational architecture remains sound. Their vigilance extends to various dimensions of a reported trade, including execution time, price, volume, and counterparty identification, each element contributing to a holistic picture of market activity.

![The image depicts two distinct liquidity pools or market segments, intersected by algorithmic trading pathways. A central dark sphere represents price discovery and implied volatility within the market microstructure](https://options.greeks.live/wp-content/uploads/2025/07/digital-asset-derivatives-rfq-multi-leg-spread-execution-microstructure.jpg)

![Symmetrical teal and beige structural elements intersect centrally, depicting an institutional RFQ hub for digital asset derivatives. This abstract composition represents algorithmic execution of multi-leg options, optimizing liquidity aggregation, price discovery, and capital efficiency for best execution](https://options.greeks.live/wp-content/uploads/2025/07/digital-asset-derivatives-rfq-protocol-for-multi-leg-options-execution.jpg)

## Strategic Frameworks for Oversight Precision

Regulatory bodies approach the surveillance of block [trade reporting accuracy](https://prime.greeks.live/question/how-can-advanced-analytics-improve-the-accuracy-and-timeliness-of-block-trade-reporting/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) with a multi-layered strategic framework, prioritizing both proactive [data validation](https://prime.greeks.live/area/data-validation/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) and reactive anomaly detection. This strategic deployment involves a combination of rule-based compliance checks, advanced data analytics, and cross-market intelligence gathering. The primary objective centers on maintaining a level playing field for all market participants, preventing informational leakage, and mitigating the potential for market manipulation inherent in large, off-exchange transactions.

A cornerstone of this strategic approach involves the establishment of clear, granular reporting obligations. Regulators specify precise timeframes for submission, data fields required, and the permissible methods of reporting, such as through exchange platforms or approved reporting mechanisms. For instance, the CME Group mandates block trade submission within 5 or 15 minutes, depending on the product, emphasizing the accurate recording of execution time. These explicit rules create a measurable benchmark against which reported data is evaluated.

> Regulators employ multi-layered strategic frameworks to ensure block trade reporting accuracy, blending rule-based compliance with advanced data analytics.

Beyond rule adherence, regulatory strategy incorporates sophisticated data-driven surveillance. This involves collecting vast datasets from various reporting entities, including trading venues, clearinghouses, and individual firms. The [Commodity Futures Trading Commission](https://prime.greeks.live/question/what-are-the-primary-differences-in-hedging-effectiveness-between-commodity-and-crypto-futures/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) (CFTC), for example, has continuously refined its swap data reporting rules, recognizing that high-quality, complete data is essential for effective oversight.

Their strategic roadmap focuses on streamlining reporting and right-sizing the number of data elements to meet priority use-cases for swap data. This commitment to [data quality](https://prime.greeks.live/area/data-quality/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) underscores a strategic shift towards leveraging quantitative analysis for comprehensive market insight.

![Crossing reflective elements on a dark surface symbolize high-fidelity execution and multi-leg spread strategies. A central sphere represents the intelligence layer for price discovery](https://options.greeks.live/wp-content/uploads/2025/07/precision-algorithmic-trading-across-intersecting-liquidity-pools-for-institutional-digital-asset-derivatives-rfq-protocols.jpg)

## Orchestrating Market Intelligence

The strategic interplay between various market components constitutes a vital intelligence layer. Regulators do not operate in silos; they correlate data across different asset classes and jurisdictions to identify broader patterns of potential misconduct. The European Securities and Markets Authority (ESMA), through MiFID II/MiFIR, mandates detailed [transaction reporting](https://prime.greeks.live/area/transaction-reporting/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) to national competent authorities specifically for market surveillance purposes. This regulatory directive reflects a strategic understanding that isolated data points offer limited insight, whereas aggregated, harmonized data provides a powerful lens into systemic behavior.

Consider the strategic imperative of identifying “wash trades” or other manipulative practices. By analyzing trade data across multiple reporting entities and comparing it against real-time market conditions, regulators can detect transactions that lack genuine economic purpose. The strategy here involves building predictive models and employing machine learning algorithms to flag suspicious activity, thereby moving beyond mere rule enforcement to proactive threat identification. This requires a robust technological infrastructure capable of processing and analyzing immense volumes of transactional data with minimal latency.

- **Regulatory Mandates** Explicitly define reporting parameters, including timing, data fields, and submission channels.

- **Data Aggregation** Consolidate transactional information from diverse sources to create a holistic market view.

- **Pattern Recognition** Utilize advanced analytics to identify unusual trading patterns or discrepancies indicative of reporting inaccuracies or market abuse.

- **Cross-Jurisdictional Alignment** Collaborate with international counterparts to harmonize reporting standards and surveillance efforts.

The strategic vision extends to enhancing market transparency. Programs such as FINRA’s Trade Reporting and Compliance Engine (TRACE) provide real-time access to bond price information for OTC fixed-income securities. This transparency, facilitated by regulatory mandates, empowers market participants with better pricing information, thereby contributing to more efficient and equitable markets. The strategic goal is not only to police [reporting accuracy](https://prime.greeks.live/question/how-does-a-centralized-data-model-improve-regulatory-reporting-accuracy/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) but also to cultivate an environment where accurate reporting becomes an intrinsic component of market functionality, driven by both regulatory enforcement and informed participant behavior.

![An advanced RFQ protocol engine core, showcasing robust Prime Brokerage infrastructure. Intricate polished components facilitate high-fidelity execution and price discovery for institutional grade digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-engine-core-for-precision-trading.jpg)

![A precision-engineered blue mechanism, symbolizing a high-fidelity execution engine, emerges from a rounded, light-colored liquidity pool component, encased within a sleek teal institutional-grade shell. This represents a Principal's operational framework for digital asset derivatives, demonstrating algorithmic trading logic and smart order routing for block trades via RFQ protocols, ensuring atomic settlement](https://options.greeks.live/wp-content/uploads/2025/07/institutional-crypto-derivatives-os-core-algorithmic-execution-engine.jpg)

## Operationalizing Oversight Precision

The execution of [block trade reporting](https://prime.greeks.live/question/how-does-cat-reporting-for-rfqs-differ-from-reporting-for-lit-order-books/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) accuracy monitoring involves a highly structured and technologically intensive operational architecture. Regulatory bodies implement multi-stage processes for data ingestion, validation, reconciliation, and analytical surveillance, each designed to ensure the integrity of reported transactions. This operational depth is essential for translating strategic objectives into tangible oversight capabilities, directly impacting market quality and participant confidence.

![A multi-faceted crystalline star, symbolizing the intricate Prime RFQ architecture, rests on a reflective dark surface. Its sharp angles represent precise algorithmic trading for institutional digital asset derivatives, enabling high-fidelity execution and price discovery](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocols-high-fidelity-execution-market-microstructure-optimization-for-prime-os-alpha-generation.jpg)

## Data Ingestion and Validation Pipelines

At the initial stage, data ingestion pipelines collect reported block trade information from various sources. These sources include Approved Reporting Mechanisms (ARMs), Swap Data Repositories (SDRs), and direct feeds from exchanges. The critical challenge at this juncture involves harmonizing diverse data formats and ensuring completeness. Regulators establish stringent validation rules that automatically check for common errors, such as missing fields, incorrect identifiers, or illogical data entries.

For instance, the Legal Entity Identifier (LEI) is a mandatory requirement under MiFID II/MiFIR for identifying legal entities in financial transactions, ensuring consistent counterparty identification. Any report failing these initial validation checks is flagged for immediate review or rejection, preventing corrupted data from propagating further into the analytical systems.

Following initial validation, a robust reconciliation process commences. This involves comparing reported trade details across multiple counterparties to a transaction or against other available market data. For a bilateral block trade, both the buyer and seller often have a reporting obligation, allowing regulators to cross-reference their submissions.

Discrepancies in execution time, price, or volume between the two reported sides trigger alerts for further investigation. This systematic cross-verification is a powerful mechanism for uncovering reporting errors, whether accidental or intentional.

> Operational oversight for block trade accuracy hinges on rigorous data ingestion, multi-source reconciliation, and advanced analytical surveillance.

![A deconstructed mechanical system with segmented components, revealing intricate gears and polished shafts, symbolizing the transparent, modular architecture of an institutional digital asset derivatives trading platform. This illustrates multi-leg spread execution, RFQ protocols, and atomic settlement processes](https://options.greeks.live/wp-content/uploads/2025/07/deconstructed-principal-trading-system-revealing-core-mechanics-of-digital-asset-derivatives-execution.jpg)

## Algorithmic Surveillance and Anomaly Detection

The operational core of accuracy monitoring lies in algorithmic surveillance. Regulators deploy sophisticated algorithms and machine learning models to analyze patterns within the vast ocean of trade data. These systems are designed to identify anomalies that human analysts might miss. Examples include:

- **Time-Series Analysis** Detecting deviations from typical reporting delays or sequences. FINRA, for instance, mandates reporting corporate debt transactions within 15 minutes of execution, with proposed amendments shortening this to one minute for some securities. Algorithms monitor adherence to these strict timeframes.

- **Price Anomaly Detection** Flagging block trades executed at prices significantly divergent from prevailing market benchmarks without clear justification. This helps identify potential price manipulation or reporting errors.

- **Volume Discrepancies** Identifying unusual patterns in reported volumes relative to historical data or market capacity.

- **Cross-Market Correlation** Analyzing the impact of a reported block trade on related instruments or markets to detect any undue influence or inconsistencies.

The effectiveness of these algorithms relies on continuously updated data models and the integration of real-time market feeds. The sheer volume of data processed necessitates automated systems capable of identifying subtle shifts in reporting behavior or [market microstructure](https://prime.greeks.live/area/market-microstructure/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite). This constant feedback loop allows regulators to adapt their surveillance tools to evolving trading practices and reporting complexities.

![An abstract composition of interlocking, precisely engineered metallic plates represents a sophisticated institutional trading infrastructure. Visible perforations within a central block symbolize optimized data conduits for high-fidelity execution and capital efficiency](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocols-multi-leg-execution-layer.jpg)

## Execution Monitoring Metrics

Regulators track a suite of key performance indicators (KPIs) and metrics to assess reporting accuracy and the effectiveness of their oversight. These metrics provide a quantitative measure of compliance and identify areas requiring intervention.

| Metric Category | Specific Metric | Operational Significance |
| --- | --- | --- |
| Timeliness | Percentage of trades reported within stipulated timeframe | Measures adherence to regulatory deadlines, crucial for market transparency. |
| Completeness | Percentage of reports with all mandatory fields populated | Indicates the thoroughness of reporting and data quality. |
| Accuracy | Rate of discrepancy between counterparty reports (e.g. price, volume) | Directly quantifies the correctness of reported trade details. |
| Error Correction Rate | Time taken to correct identified reporting errors | Assesses firms’ responsiveness to identified inaccuracies. |
| Data Quality Index | Composite score based on timeliness, completeness, and accuracy | Provides an overarching view of reporting health. |

These metrics form the basis for regular “report cards” issued to firms, as seen with FINRA’s TRACE Quality of Markets Report Card for various securities. Such reports highlight areas of strength and weakness, prompting firms to enhance their internal controls and reporting systems. The largest block trade related fine issued by ICE, for instance, concerned ineffective systems and controls that resulted in repeated rule breaches.

The complexity inherent in achieving perfect data reconciliation across a fragmented, high-velocity market is a constant intellectual grappling point for any systems architect. Even with advanced algorithms and rigorous validation, the dynamic nature of financial instruments and the sheer volume of transactions introduce persistent challenges. Acknowledging the asymptotic pursuit of absolute data fidelity, regulators continually refine their methodologies, understanding that the pursuit of precision is an ongoing, iterative process.

![A sleek pen hovers over a luminous circular structure with teal internal components, symbolizing precise RFQ initiation. This represents high-fidelity execution for institutional digital asset derivatives, optimizing market microstructure and achieving atomic settlement within a Prime RFQ liquidity pool](https://options.greeks.live/wp-content/uploads/2025/07/optimizing-digital-asset-derivatives-rfq-through-prime-os-precision.jpg)

## Procedural Flow for Regulatory Review

The operational flow for investigating flagged reporting discrepancies follows a defined procedural sequence, ensuring consistent and fair enforcement.

- **Automated Flagging** ▴ Algorithmic surveillance systems identify potential reporting errors or suspicious patterns based on predefined rules and models.

- **Initial Triage and Review** ▴ Human analysts review flagged items, assessing the severity and potential impact of the discrepancy. This often involves cross-referencing with other available market data or news.

- **Data Request to Firms** ▴ Regulators issue formal requests for additional data, internal records, and explanations from the reporting entities involved. This may include order tickets, communication logs, and internal trade blotters.

- **Detailed Investigation** ▴ Analysts conduct a deep dive into the provided information, seeking to reconcile discrepancies and understand the root cause of any inaccuracies. This can involve forensic data analysis.

- **Enforcement Action Determination** ▴ Based on the investigation’s findings, a determination is made regarding the nature of the breach (e.g. unintentional error, systemic failure, intentional manipulation) and appropriate enforcement actions, ranging from warning letters to significant fines.

- **Systemic Feedback Loop** ▴ Findings from individual cases inform adjustments to surveillance algorithms, reporting rules, and educational guidance for market participants, creating a continuous improvement cycle.

The commitment to enhancing the accuracy of reported data is profound. The CFTC, through its Division of Market Oversight, has even provided no-action relief from swap data error-notification requirements for immaterial errors (less than 5% of open swaps in an asset class), recognizing the technical nature of swap data reporting makes errors common and aiming to focus resources on more significant issues. This pragmatic approach reflects a deep understanding of operational realities while maintaining a steadfast commitment to overall data quality. The drive to ensure that every reported block trade precisely mirrors its economic reality is a fundamental operational mandate.

![The image depicts two intersecting structural beams, symbolizing a robust Prime RFQ framework for institutional digital asset derivatives. These elements represent interconnected liquidity pools and execution pathways, crucial for high-fidelity execution and atomic settlement within market microstructure](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-cross-market-execution-architecture-for-digital-assets.jpg)

## References

- CME Group. (n.d.). _Block Trades ▴ Reporting and Recordkeeping_. Market Regulation Advisory Notice.

- Commodity Futures Trading Commission. (2020). _Time for a Change ▴ The CFTC Adopts Extensive Amendments to Swap Reporting Regulations to Improve Data Quality_.

- FINRA. (n.d.). _Trade Reporting and Compliance Engine (TRACE)_. FINRA.org.

- Morgan Lewis. (2022, June 14). _FINRA Seeks to Expand Reporting Requirements for Transactions in TRACE-Eligible Securities_.

- ACA Group. (2020, November 23). _Trade and Transaction Reporting ▴ Fast is Fine, but Accuracy is Everything_.

- ICE. (2022, February). _Market Regulation Bulletin #1_.

- European Securities and Markets Authority. (2024, October 21). _MiFID II and MiFIR ▴ ESMA on Market Structure and Trade Reporting_. Grand Blog.

- European Securities and Markets Authority. (2018, May 25). _ESMA Q&A updates on MiFID II/R data reporting, investor protection and intermediaries topics_.

- Davis Polk. (2017, July 11). _CFTC Begins Review of Swap Reporting Rules with a Welcome Focus on Simplification and Regulatory Coordination_.

- The National Law Review. (2025, August 7). _Commodity Futures Trading Commission Eases Swap Data Error Report_.

- LeapXpert. (2024, April 4). _CFTC’s Proposed Amendments on Swap Data Explained_.

![Metallic rods and translucent, layered panels against a dark backdrop. This abstract visualizes advanced RFQ protocols, enabling high-fidelity execution and price discovery across diverse liquidity pools for institutional digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/precision-market-microstructure-for-institutional-digital-asset-derivatives-rfq.jpg)

## Evolving the Operational Horizon

Reflecting upon the intricate mechanisms governing block trade reporting accuracy reveals a continuous evolutionary process. The regulatory landscape, a dynamic system itself, constantly adapts to new financial instruments, technological advancements, and the ever-present ingenuity of market participants. For a principal, this underscores the necessity of not only understanding current mandates but also anticipating future shifts in oversight methodologies. The true strategic advantage arises from integrating this understanding into a firm’s operational framework, building systems that are not merely compliant but inherently robust and adaptable.

Consider the broader implications for risk management and [capital efficiency](https://prime.greeks.live/area/capital-efficiency/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite). A firm with a superior grasp of regulatory expectations and an internal architecture designed for data fidelity will naturally exhibit lower operational risk and potentially unlock greater capital deployment flexibility. The quest for accuracy in reporting is an ongoing dialogue between market innovation and regulatory stewardship, a dialogue that shapes the very microstructure of global finance. Ultimately, mastery of these systems provides a decisive edge, transforming compliance from a cost center into a strategic differentiator.

![Interlocking transparent and opaque components on a dark base embody a Crypto Derivatives OS facilitating institutional RFQ protocols. This visual metaphor highlights atomic settlement, capital efficiency, and high-fidelity execution within a prime brokerage ecosystem, optimizing market microstructure for block trade liquidity](https://options.greeks.live/wp-content/uploads/2025/07/modular-framework-for-crypto-derivatives-os-rfq-protocol-aggregation.jpg)

## Glossary

<a href="https://prime.greeks.live/question/how-does-cat-reporting-for-rfqs-differ-from-reporting-for-lit-order-books/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A dark blue, precision-engineered blade-like instrument, representing a digital asset derivative or multi-leg spread, rests on a light foundational block, symbolizing a private quotation or block trade. This structure intersects robust teal market infrastructure rails, indicating RFQ protocol execution within a Prime RFQ for high-fidelity execution and liquidity aggregation in institutional trading](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-framework-multi-leg-spreads-best-execution-capital-efficiency.jpg)

## Trade Reporting

CAT reporting for RFQs maps a multi-party negotiation, while for lit books it traces a single, linear order lifecycle. </a><a href="https://prime.greeks.live/question/what-are-the-key-differences-between-a-lit-market-block-trade-and-an-otc-block-trade/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A detailed view of an institutional-grade Digital Asset Derivatives trading interface, featuring a central liquidity pool visualization through a clear, tinted disc. Subtle market microstructure elements are visible, suggesting real-time price discovery and order book dynamics](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-rfq-execution-system-microstructure-display.jpg)

## Block Trade

Lit trades are public auctions shaping price; OTC trades are private negotiations minimizing impact. </a><a href="https://prime.greeks.live/question/how-can-advanced-analytics-improve-the-accuracy-and-timeliness-of-block-trade-reporting/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Precision-engineered modular components, resembling stacked metallic and composite rings, illustrate a robust institutional grade crypto derivatives OS. Each layer signifies distinct market microstructure elements within a RFQ protocol, representing aggregated inquiry for multi-leg spreads and high-fidelity execution across diverse liquidity pools](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-multi-layered-algorithmic-rfq-liquidity-aggregation.jpg)

## Block Trade Reporting Accuracy

Advanced analytics optimizes block trade reporting through real-time data validation and predictive anomaly detection, ensuring superior accuracy and timeliness. </a><a href="https://prime.greeks.live/area/systemic-risk/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A transparent, multi-faceted component, indicative of an RFQ engine's intricate market microstructure logic, emerges from complex FIX Protocol connectivity. Its sharp edges signify high-fidelity execution and price discovery precision for institutional digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-engine-optimized-for-best-execution.jpg)

## Systemic Risk

Meaning ▴ Systemic risk denotes the potential for a localized failure within a financial system to propagate and trigger a cascade of subsequent failures across interconnected entities, leading to the collapse of the entire system. </a><a href="https://prime.greeks.live/question/how-can-advanced-analytics-improve-the-accuracy-and-timeliness-of-block-trade-reporting/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precision-engineered component, like an RFQ protocol engine, displays a reflective blade and numerical data. It symbolizes high-fidelity execution within market microstructure, driving price discovery, capital efficiency, and algorithmic trading for institutional Digital Asset Derivatives on a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/high-fidelity-execution-engine-core-for-institutional-digital-asset-derivatives-rfq-protocol-price-discovery.jpg)

## Trade Reporting Accuracy

Advanced analytics optimizes block trade reporting through real-time data validation and predictive anomaly detection, ensuring superior accuracy and timeliness. </a><a href="https://prime.greeks.live/area/data-validation/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precise, multi-faceted geometric structure represents institutional digital asset derivatives RFQ protocols. Its sharp angles denote high-fidelity execution and price discovery for multi-leg spread strategies, symbolizing capital efficiency and atomic settlement within a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/digital-asset-derivatives-rfq-execution-microstructure-framework.jpg)

## Data Validation

Meaning ▴ Data Validation is the systematic process of ensuring the accuracy, consistency, completeness, and adherence to predefined business rules for data entering or residing within a computational system. </a><a href="https://prime.greeks.live/question/what-are-the-primary-differences-in-hedging-effectiveness-between-commodity-and-crypto-futures/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A modular system with beige and mint green components connected by a central blue cross-shaped element, illustrating an institutional-grade RFQ execution engine. This sophisticated architecture facilitates high-fidelity execution, enabling efficient price discovery for multi-leg spreads and optimizing capital efficiency within a Prime RFQ framework for digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/principal-prime-os-rfq-engine-for-digital-asset-derivatives.jpg)

## Commodity Futures Trading Commission

The primary difference in hedging effectiveness lies in managing known, physical-world risks via structured commodity markets versus mitigating abstract, sentiment-driven volatility within crypto's fragmented, 24/7 digital ecosystem. </a><a href="https://prime.greeks.live/area/data-quality/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A symmetrical, angular mechanism with illuminated internal components against a dark background, abstractly representing a high-fidelity execution engine for institutional digital asset derivatives. This visualizes the market microstructure and algorithmic trading precision essential for RFQ protocols, multi-leg spread strategies, and atomic settlement within a Principal OS framework, ensuring capital efficiency](https://options.greeks.live/wp-content/uploads/2025/07/precision-execution-engine-for-institutional-digital-asset-derivatives-rfq.jpg)

## Data Quality

Meaning ▴ Data Quality represents the aggregate measure of information's fitness for consumption, encompassing its accuracy, completeness, consistency, timeliness, and validity. </a><a href="https://prime.greeks.live/area/transaction-reporting/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A luminous, multi-faceted geometric structure, resembling interlocking star-like elements, glows from a circular base. This represents a Prime RFQ for Institutional Digital Asset Derivatives, symbolizing high-fidelity execution of block trades via RFQ protocols, optimizing market microstructure for price discovery and capital efficiency](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-system.jpg)

## Transaction Reporting

Meaning ▴ Transaction Reporting defines the formal process of submitting granular trade data, encompassing execution specifics and counterparty information, to designated regulatory authorities or internal oversight frameworks. </a><a href="https://prime.greeks.live/question/how-does-a-centralized-data-model-improve-regulatory-reporting-accuracy/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A central concentric ring structure, representing a Prime RFQ hub, processes RFQ protocols. Radiating translucent geometric shapes, symbolizing block trades and multi-leg spreads, illustrate liquidity aggregation for digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-execution-engine-4.jpg)

## Reporting Accuracy

A centralized data model improves regulatory reporting accuracy by creating a single, verifiable data reality, ensuring consistency and traceability from transaction origin to final submission. </a><a href="https://prime.greeks.live/question/how-does-cat-reporting-for-rfqs-differ-from-reporting-for-lit-order-books/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A polished, abstract geometric form represents a dynamic RFQ Protocol for institutional-grade digital asset derivatives. A central liquidity pool is surrounded by opening market segments, revealing an emerging arm displaying high-fidelity execution data](https://options.greeks.live/wp-content/uploads/2025/07/high-fidelity-institutional-digital-asset-derivatives-rfq-protocol-system.jpg)

## Block Trade Reporting

CAT reporting for RFQs maps a multi-party negotiation, while for lit books it traces a single, linear order lifecycle. </a><a href="https://prime.greeks.live/area/market-microstructure/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sophisticated metallic mechanism with integrated translucent teal pathways on a dark background. This abstract visualizes the intricate market microstructure of an institutional digital asset derivatives platform, specifically the RFQ engine facilitating private quotation and block trade execution](https://options.greeks.live/wp-content/uploads/2025/07/systemic-framework-for-institutional-digital-asset-derivatives-rfq-price-discovery-and-atomic-settlement.jpg)

## Market Microstructure

Meaning ▴ Market Microstructure refers to the study of the processes and rules by which securities are traded, focusing on the specific mechanisms of price discovery, order flow dynamics, and transaction costs within a trading venue. </a><a href="https://prime.greeks.live/area/capital-efficiency/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sophisticated modular apparatus, likely a Prime RFQ component, showcases high-fidelity execution capabilities. Its interconnected sections, featuring a central glowing intelligence layer, suggest a robust RFQ protocol engine](https://options.greeks.live/wp-content/uploads/2025/07/institutional-rfq-engine-core-for-digital-asset-derivatives-high-fidelity-execution-protocols.jpg)

## Capital Efficiency

Meaning ▴ Capital Efficiency quantifies the effectiveness with which an entity utilizes its deployed financial resources to generate output or achieve specified objectives. </a>

**Tags:** [Reporting Protocols](https://options.greeks.live/area/reporting-protocols/), [Systemic Risk](https://options.greeks.live/area/systemic-risk/), [Data Validation](https://options.greeks.live/area/data-validation/), [Transparency Mechanisms](https://options.greeks.live/area/transparency-mechanisms/), [Data Harmonization](https://options.greeks.live/area/data-harmonization/), [Financial Derivatives](https://options.greeks.live/area/financial-derivatives/)	

## Discover More

- 
### [How Do Automated Workflows Streamline Block Trade Reporting?](https://options.greeks.live/question/how-do-automated-workflows-streamline-block-trade-reporting/)
![A sleek conduit, embodying an RFQ protocol and smart order routing, connects two distinct, semi-spherical liquidity pools. Its transparent core signifies an intelligence layer for algorithmic trading and high-fidelity execution of digital asset derivatives, ensuring atomic settlement.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-execution-engine-bridging-diverse-liquidity-pools-via-high-fidelity-rfq-protocol-orchestration.jpg)

Automated workflows transform block trade reporting into a precise, low-latency data conduit, ensuring regulatory integrity and enhancing strategic market insight.

- 
### [What Are the Primary Quantitative Metrics for Assessing Block Trade Validation System Performance?](https://options.greeks.live/question/what-are-the-primary-quantitative-metrics-for-assessing-block-trade-validation-system-performance/)
![Beige module, dark data strip, teal reel, clear processing component. This illustrates an RFQ protocol's high-fidelity execution, facilitating principal-to-principal atomic settlement in market microstructure, essential for a Crypto Derivatives OS.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-crypto-derivatives-rfq-protocol-execution-engine.jpg)

System performance is quantified by validation latency, accuracy, throughput, and resilience, ensuring optimal block trade execution and capital efficiency.

- 
### [How Do Reporting Delays Impact Block Trade Liquidity Provision?](https://options.greeks.live/question/how-do-reporting-delays-impact-block-trade-liquidity-provision/)
![A layered, spherical structure reveals an inner metallic ring with intricate patterns, symbolizing market microstructure and RFQ protocol logic. A central teal dome represents a deep liquidity pool and precise price discovery, encased within robust institutional-grade infrastructure for high-fidelity execution.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-prime-os-orchestrating-rfq-protocols-for-high-fidelity-execution-and-multi-asset-liquidity.jpg)

Delayed block trade reporting preserves liquidity by granting discretion to providers, enabling efficient risk transfer without immediate market disruption.

- 
### [What Are the Primary Regulatory Challenges for Real-Time Block Trade Reporting?](https://options.greeks.live/question/what-are-the-primary-regulatory-challenges-for-real-time-block-trade-reporting/)
![Intersecting sleek components of a Crypto Derivatives OS symbolize RFQ Protocol for Institutional Grade Digital Asset Derivatives. Luminous internal segments represent dynamic Liquidity Pool management and Market Microstructure insights, facilitating High-Fidelity Execution for Block Trade strategies within a Prime Brokerage framework.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-high-fidelity-engine.jpg)

Real-time block trade reporting demands intricate systemic integration to balance transparency, liquidity, and cross-jurisdictional data harmonization.

- 
### [What Are the Regulatory Implications for Automated Block Trade Reporting Systems?](https://options.greeks.live/question/what-are-the-regulatory-implications-for-automated-block-trade-reporting-systems/)
![A multi-layered electronic system, centered on a precise circular module, visually embodies an institutional-grade Crypto Derivatives OS. It represents the intricate market microstructure enabling high-fidelity execution via RFQ protocols for digital asset derivatives, driven by an intelligence layer facilitating algorithmic trading and optimal price discovery.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-engine-facilitating-high-fidelity-execution-and-optimal-price-discovery.jpg)

Automated block trade reporting systems ensure market transparency and integrity, facilitating strategic institutional execution and mitigating systemic risk.

- 
### [What Are the Core Differences between MiFID II and Dodd-Frank Block Trade Reporting Frameworks?](https://options.greeks.live/question/what-are-the-core-differences-between-mifid-ii-and-dodd-frank-block-trade-reporting-frameworks/)
![A futuristic system component with a split design and intricate central element, embodying advanced RFQ protocols. This visualizes high-fidelity execution, precise price discovery, and granular market microstructure control for institutional digital asset derivatives, optimizing liquidity provision and minimizing slippage.](https://options.greeks.live/wp-content/uploads/2025/07/advanced-rfq-protocols-for-digital-asset-derivatives-price-discovery.jpg)

MiFID II emphasizes public transparency and detailed surveillance across diverse assets, while Dodd-Frank focuses on systemic risk via private swap data reporting.

- 
### [How Do Real-Time Data Pipelines Enhance Block Trade Reporting Accuracy?](https://options.greeks.live/question/how-do-real-time-data-pipelines-enhance-block-trade-reporting-accuracy/)
![Sleek, off-white cylindrical module with a dark blue recessed oval interface. This represents a Principal's Prime RFQ gateway for institutional digital asset derivatives, facilitating private quotation protocol for block trade execution, ensuring high-fidelity price discovery and capital efficiency through low-latency liquidity aggregation.](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-rfq-portal-optimal-institutional-digital-asset-execution.jpg)

Real-time data pipelines deliver immediate, validated block trade information, establishing superior reporting precision and regulatory compliance.

- 
### [How Do Minimum Quote Duration Rules Impact High-Frequency Trading Strategies?](https://options.greeks.live/question/how-do-minimum-quote-duration-rules-impact-high-frequency-trading-strategies/)
![A precise central mechanism, representing an institutional RFQ engine, is bisected by a luminous teal liquidity pipeline. This visualizes high-fidelity execution for digital asset derivatives, enabling precise price discovery and atomic settlement within an optimized market microstructure for multi-leg spreads.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-core-execution-system-1.jpg)

Minimum quote duration rules force HFT firms to recalibrate algorithms for sustained liquidity provision and risk management.

- 
### [When Does the Correlation between Assets Significantly Alter Multi-Asset Block Trade Strategies?](https://options.greeks.live/question/when-does-the-correlation-between-assets-significantly-alter-multi-asset-block-trade-strategies/)
![Precision-engineered multi-layered architecture depicts institutional digital asset derivatives platforms, showcasing modularity for optimal liquidity aggregation and atomic settlement. This visualizes sophisticated RFQ protocols, enabling high-fidelity execution and robust pre-trade analytics.](https://options.greeks.live/wp-content/uploads/2025/08/modular-digital-asset-derivative-prime-os-for-institutional-rfq-and-block-trade-execution.jpg)

Dynamic asset correlation critically reshapes multi-asset block trade strategies by altering risk, liquidity, and hedging efficacy, demanding adaptive execution systems.

---

## Raw Schema Data

```json
{
    "@context": "https://schema.org",
    "@type": "BreadcrumbList",
    "itemListElement": [
        {
            "@type": "ListItem",
            "position": 1,
            "name": "Home",
            "item": "https://options.greeks.live"
        },
        {
            "@type": "ListItem",
            "position": 2,
            "name": "Question",
            "item": "https://options.greeks.live/question/"
        },
        {
            "@type": "ListItem",
            "position": 3,
            "name": "How Do Regulatory Bodies Monitor Block Trade Reporting Accuracy?",
            "item": "https://options.greeks.live/question/how-do-regulatory-bodies-monitor-block-trade-reporting-accuracy/"
        }
    ]
}
```

```json
{
    "@context": "https://schema.org",
    "@type": "Organization",
    "@id": "https://greeks.live/#organization",
    "name": "Greeks.Live",
    "url": "https://greeks.live/",
    "description": "Greeks.live is the definitive toolkit for the professional options trader, dedicated to empowering our users with institutional-grade data, advanced analytics, and a comprehensive suite of trading tools designed to provide a decisive edge in the market. Every article and guide published under the Greeks.live name is a product of our deep commitment to data-driven analysis and our mission to support the global trading community.",
    "email": "support@greeks.live",
    "logo": {
        "@type": "ImageObject",
        "url": "https://options.greeks.live/wp-content/uploads/2025/07/Greeks.Live-Logo-Icon.svg"
    },
    "hasPart": [
        {
            "@type": "WebSite",
            "name": "About Us",
            "url": "https://about.greeks.live"
        },
        {
            "@type": "WebSite",
            "name": "App Download Page",
            "url": "https://about.greeks.live/#/download/basic_trade"
        },
        {
            "@type": "WebSite",
            "name": "Newcomers' Guide",
            "url": "https://twisty-sign-c8b.notion.site/Guide-for-Greeks-live-X-Deribit-Newbies-5a08a3052822427d800af6eaf3704c8d"
        },
        {
            "@type": "WebSite",
            "name": "Knowledge Base",
            "url": "https://linktr.ee/greeks.live"
        },
        {
            "@type": "WebSite",
            "name": "Option Terminology",
            "url": "https://greekslive.notion.site/88dfc00e7c584d4d8969b6302a79a12f?pvs=4"
        },
        {
            "@type": "WebSite",
            "name": "Terms of Service",
            "url": "https://greeks.live/#/tos"
        },
        {
            "@type": "WebSite",
            "name": "Disclaimer",
            "url": "https://greeks.live/#/disclaimer"
        }
    ],
    "sameAs": [
        "https://x.com/greekslive",
        "https://youtube.com/@greeks_live?si=-KjT0Lkw4WUCI0tD",
        "https://t.me/greekslive_notifications",
        "https://t.me/greekslive",
        "https://pinterest.com/greekslive/"
    ],
    "makesOffer": [
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "RFQ Platform",
                "url": "https://rfq.greeks.live",
                "description": "Execute institutional-grade block trades for crypto options and futures. This platform provides deep, over-the-counter (OTC) liquidity via a professional Request for Quote system.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Lending Tools",
                "url": "https://lend.greeks.live",
                "description": "Manage crypto lending and borrowing activities to earn yield or secure loans. This suite of tools helps users analyze interest rates and manage collateralized debt positions.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Data Lab",
                "url": "https://greeks.live/#/deribit/tools/datalab/BTC",
                "description": "Analyze historical and real-time options data with advanced metrics. This tool is designed for backtesting strategies and identifying market trends through comprehensive data visualization.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Profit & Loss Analysis (PnL)",
                "url": "https://greeks.live/#/deribit/tools/pnl_analysis",
                "description": "Track and analyze the Profit and Loss (PnL) of your options portfolio. This tool provides detailed performance metrics to help traders evaluate and refine their strategies.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Position Visualization",
                "url": "https://greeks.live/#/deribit/tools/pv/BTC",
                "description": "Visualize complex options positions and their corresponding risk profiles. This tool generates payoff diagrams to help traders intuitively understand potential profit, loss, and exposure.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Options Calculator",
                "url": "https://greeks.live/#/deribit/tools/calculator",
                "description": "Calculate the theoretical price and risk parameters ('the Greeks') of crypto options. An essential tool for pricing new trades and analyzing the sensitivity of existing positions.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Greeks.live Main Platform",
                "url": "https://greeks.live/",
                "description": "The central hub for the Greeks.live suite of professional cryptocurrency options and derivatives trading tools. Access analytics, manage positions, and explore the ecosystem.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Community Forum",
                "url": "https://t.greeks.live",
                "description": "Join the official Greeks.live community. Connect with other traders, share insights, and receive the latest updates directly from the team.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Greeks.live for Deribit",
                "url": "http://deribit.greeks.live",
                "description": "A dedicated interface for trading on the Deribit exchange. This platform leverages Greeks.live's advanced analytics and tools specifically for users of Deribit's options and futures markets.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Greeks.live for OKX",
                "url": "http://okx.greeks.live",
                "description": "A dedicated interface for trading on the OKX exchange. This platform integrates Greeks.live's powerful analytics with the OKX marketplace, focusing on its options and derivatives products.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "GLVS.AI Trading Platform",
                "url": "https://www.glvs.ai/",
                "description": "An AI-powered platform for automated crypto options trading. Leverage advanced algorithms and data-driven signals to develop and deploy sophisticated, hands-free trading strategies.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "API Testnet & Sandbox",
                "url": "https://test.greeks.live",
                "description": "A dedicated testnet environment for developers to test their API integrations and automated trading strategies. This sandbox allows for full functionality testing without risking real funds.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        }
    ],
    "subOrganization": [
        {
            "@type": "Organization",
            "name": "GreeksLive HK Co., Limited",
            "email": "support@greeks.live",
            "telephone": "+852-56418949",
            "address": {
                "@type": "PostalAddress",
                "streetAddress": "Unit 11, 27/F, K. Wah Centre, 191 Java Road",
                "addressLocality": "Hong Kong",
                "addressRegion": "North Point",
                "addressCountry": "CN",
                "postalCode": "0000"
            },
            "geo": {
                "@type": "GeoCoordinates",
                "latitude": "22.2932357",
                "longitude": "114.2022026"
            },
            "image": "https://options.greeks.live/wp-content/uploads/2025/08/Wah-Centre-Hong-Kong.jpg"
        }
    ]
}
```

```json
{
    "@context": "https://schema.org",
    "@type": "Article",
    "mainEntityOfPage": {
        "@type": "WebPage",
        "@id": "https://options.greeks.live/question/how-do-regulatory-bodies-monitor-block-trade-reporting-accuracy/"
    },
    "headline": "How Do Regulatory Bodies Monitor Block Trade Reporting Accuracy? \u25b4 Question",
    "description": "Regulatory bodies rigorously validate block trade reporting accuracy through multi-source data reconciliation and algorithmic surveillance, safeguarding market integrity and transparency. \u25b4 Question",
    "url": "https://options.greeks.live/question/how-do-regulatory-bodies-monitor-block-trade-reporting-accuracy/",
    "datePublished": "2025-09-06T07:43:20+00:00",
    "dateModified": "2025-09-06T07:43:22+00:00",
    "articleSection": [
        "Question"
    ],
    "author": {
        "@id": "https://greeks.live/#organization"
    },
    "publisher": {
        "@id": "https://greeks.live/#organization"
    },
    "image": {
        "@type": "ImageObject",
        "url": "https://options.greeks.live/wp-content/uploads/2025/07/inst-digital-asset-deriv-rfq-os-for-optimal-high-fidelity-trade-exec.jpg",
        "caption": "The central spherical mechanism, surrounded by precision instruments, visualizes a cutting-edge Crypto Derivatives OS facilitating dynamic RFQ protocols. It embodies the rigorous market microstructure analysis and robust portfolio margin management crucial for institutional-grade digital asset derivatives trading. This system ensures best execution for block trades, mitigates counterparty risk through atomic settlement, and optimizes capital efficiency across complex multi-leg options strategies, providing superior pre-trade analytics and post-trade reporting for sophisticated market makers and prime brokerage clients, enhancing overall order book dynamics."
    },
    "keywords": [
        "Algorithmic Monitoring",
        "Capital Efficiency",
        "Data Harmonization",
        "Data Quality",
        "Data Validation",
        "Execution Quality",
        "Financial Derivatives",
        "Market Microstructure",
        "OTC Trading",
        "Regulatory Compliance",
        "Reporting Protocols",
        "Systemic Risk",
        "Trade Surveillance",
        "Transaction Reporting",
        "Transparency Mechanisms"
    ]
}
```

```json
{
    "@context": "https://schema.org",
    "@type": "WebSite",
    "url": "https://options.greeks.live/",
    "potentialAction": {
        "@type": "SearchAction",
        "target": "https://options.greeks.live/?s=search_term_string",
        "query-input": "required name=search_term_string"
    }
}
```


---

**Original URL:** https://options.greeks.live/question/how-do-regulatory-bodies-monitor-block-trade-reporting-accuracy/
