> Nasdaq runs [https://financialservices.house.gov/uploadedfiles/hhrg-116-ba00-wstate-rejsjom-20191206.pdf https://financialservices.house.gov/uploadedfiles/hhr

> Nasdaq runs [https://financialservices.house.gov/uploadedfiles/hhrg-116-ba00-wstate-rejsjom-20191206.pdf https://financialservices.house.gov/uploadedfiles/hhrg-116-b...] more than 40 different algorithms, using about 35,000 parameters, to look for market abuse and manipulation in real time. Click link: > Nasdaq North America Surveillance team monitors 3 equity markets, 6 options markets and one futures market with real-time surveillance and post-trade surveillance of unusual market activity. The surveillance department is monitoring the markets for Insider Trading, Fraud and Manipulation, including manipulation through trading—pump and dump—and order book manipulation—spoofing and layering, as well as handling events in the market such as clearly erroneous transactions. > The surveillance program today is using algorithmic coding to detect unusual market behavior running over 40 different algorithms in real-time, looking for market abuse and manipulation. The patterns have sophisticated algorithms that use approximately 35,000 parameters. In addition to real-time surveillance, there are over 150 patterns covering post trade surveillance, which are used to identify a wide range of potential misconduct. > The activity is monitored across equity and options markets, with some market-specific alerts and some alerts encompassing data from all markets. So they have 40 different predictive models running in production (a lot!), and 150 hand-written (or single-pattern) rules. They also employ active learning with experts and this reduces their training data needs with 95%. 40 models using 35000 features, is 875 features per model on average. All this bickering is typical.