🔎 Giám sát giao dịch

A broker watching its own clients sees only half the board: the central order book is anonymous, so you never see who was on the other side. Notes on detecting market abuse from that half: which techniques stop working when the feed only shows three price levels, why cancelled orders are the most valuable data you can throw away, how every manipulation pattern has a lawful twin that looks identical, and why the system raises questions for a human rather than concluding anything.