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Quantitative Finance · Begrippenlijst

Wat is Information barrier, wall-crossing, insider list?

Ook bekend als: information barrier · wall-crossing · insider list

Definition 16.6 The Desk and the Firm · Hoofdstuk 16 — Compliance and Market Abuse

An information barrier is the set of organisational, physical and electronic controls that keep inside information held in one part of a firm from people in another who trade or advise on the instruments concerned. A wall-crossing is the controlled passing of inside information to a person on the other side of a barrier, or to an outside investor sounded about a transaction, with their prior consent, recorded, and binding them not to trade until the information is public or no longer inside. An insider list records every person with access to inside information about an issuer, when they obtained it, and why.

Information barriers: the private side holds inside information, the public side trades; compliance sits across both, keeps the lists, records wall-crossings and pre-clears and surveils the public side. Schematic.
Figure 16.4. Information barriers: the private side holds inside information, the public side trades; compliance sits across both, keeps the lists, records wall-crossings and pre-clears and surveils the public side. Schematic.
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