Steps to Review a Marking the Close or Window Dressing Event
TRACKED IN: Open – Close Manipulation
To detect marking the close, Surveyor looks for instances where a user account obtains the last round-lot execution of a trading day, in a symbol in which the account maintains a significant pre-existing position, and the execution improves the valuation of the pre-existing position as compared to the next previous execution (the would-be closing price if not for the subject account’s action).
Window dressing is similar to marking the close, but only examines the final executions of a trading month, and requires the account to have held the pre-existing position for a longer period.
1. Pre-Event Position
Prior to event, an account holds a long position. This is easy to visualize by turning on the Position indicator under Chart Settings at the bottom of the chart.
2. Pre-Event Last Print
3. Local Print
4. Closing Price
Using the Results
More on Reviewing Events
Next, see how to review wash trades and cross trades.