synthetic teaching lab · not a product · not a monitoring platform · all data is invented · you are the analyst
Trades Reconstructed — teaching lab‹ back to Interactives
Trades Reconstructedthe order–trade–fulfillment lifecycle
teaching lab · clear the queue

A companion to the reconstruction bench. There, you ran surveillance and found what was there. Here, the alerts are already raised — you inherit a queue, and your job is the analyst's: work out why each one flagged, decide what is real and what is a false positive, and file the right report. All data is synthetic and generated on your device. The detection that produced these alerts is deliberately simple; the judgment is yours.

no queue loaded
stage 0 · the shift begins

Take the alert queue

You are the analyst on shift. Overnight, surveillance raised a handful of alerts on a synthetic client feed. Some are real. Some are noise. One or two are real conduct that still may not need the report you'd reach for first. Choose a market and pull the queue.

Reminder. Every account, order, and alert here is invented and generated in your browser. Nothing corresponds to a real firm, person, or trade, and nothing you type leaves the page.
stage 1 · the queue

Investigate, dispose, and file

Open each alert. Inspect the events, decide why it flagged, then dispose of it — dismiss it as a false positive, or escalate it and choose the report the conduct actually calls for. Escalation and a SAR are not the same decision: some conduct is market abuse that travels by referral, and some is reportable only because it has no lawful purpose. One framing to hold: in the US the analyst opens a market-abuse case and files SARs, but the referral to the SEC is made by the SRO from the CAT data — it is not a form filed at this desk.

stage 2 · the reporting desk

File the transaction reports

The other half of the desk's day. These executions from the same session must be reported — CAT — accurately and on time. Complete the fields that matter, and handle the one report that came back needing a correction.

stage 3 · reveal

The shift, reviewed

Because the queue was generated, the lab knows the truth of every alert. Here is your work against it — what you disposed of correctly, where the report you filed was the right one, and the reports you were right not to file.

What the shift teaches. Most of an analyst's day is deciding what not to escalate, and getting the paper exactly right on the few that remain. A real flag can be market abuse that never becomes a SAR. A convincing pattern can be a lawful block trade. The record is only as good as the judgment applied to it — which is the part no rule engine supplies. None of this was a monitoring tool; it was a reconstruction of the reasoning.