Which statement describes what a Trade Report covers?

Which statement describes what a Trade Report covers?

• A. Only on-exchange trades
• B. Only off-exchange trades
• C. On-exchange, off-order book, or off-exchange trades
• D. Only domestic Swiss trades

Answer: (C)

A Trade Report is meant to capture every completed trade, no matter where it took place. This keeps a full and transparent record for participants and regulators. So it covers on-exchange trades (those that happen through the exchange’s matching engine and appear in the public order book), off-order book trades (matched outside the visible order book, such as crossing sessions), and off-exchange trades (OTC or bilateral transactions not run through an exchange). That broad scope is why the option describing all three types is the best choice. Limiting it to only on-exchange, only off-exchange, or only domestic Swiss trades would miss other legitimate trading avenues and wouldn’t provide a complete post-trade record.

A Trade Report is meant to capture every completed trade, no matter where it took place. This keeps a full and transparent record for participants and regulators. So it covers on-exchange trades (those that happen through the exchange’s matching engine and appear in the public order book), off-order book trades (matched outside the visible order book, such as crossing sessions), and off-exchange trades (OTC or bilateral transactions not run through an exchange). That broad scope is why the option describing all three types is the best choice. Limiting it to only on-exchange, only off-exchange, or only domestic Swiss trades would miss other legitimate trading avenues and wouldn’t provide a complete post-trade record.