TradeTech · T682 · Rule 605 Publication Composer

Rule 605 Publication Composer

Composes Rule 605 publication-shaped rows from the best-ex/669-shaped inputs you declare: you declare orders_covered, shares_covered, the average effective and quoted spreads, and optional category names; the page computes the effective-to-quoted ratio, echoes the covered-order roll-up, and builds one publication row per declared category. Every figure here is yours: the page holds no market data, no tape, no venue, no order-management system, and no clock.

⚠ This tool computes arithmetic over caller-declared covered-order and spread declarations under named verdict rules. orders_covered, shares_covered, and the spread statistics are your declarations, never observations, and it never reads market data, a tape, a venue, or an order-management system. PUBLICATION_ROWS_BUILT says rows were composed from your declared inputs; it is not an assessment of any publication obligation. Rounding is 2dp half-up, declared in the kernel and in the trace. An absent or invalid input is refused fail-closed and named, never silently repaired.
Publication Rows Effective · Quoted Spread Ratio Zero PII Client-Side · Declared Inputs Only
🔒 All inputs are processed locally in your browser. No data is transmitted. Do not enter real personal data — use synthetic or anonymised inputs only.
Declared Best-Ex Inputs

Declare the covered-order roll-up and the spread statistics. They are your declarations: this page never verifies them against market data, a tape, a venue, or an order-management system. eq_ratio is avg_effective_spread_bps / avg_quoted_spread_bps, rounded half-up to 2 decimal places (a declared convention); one publication row is composed per declared category (comma-separated, optional).

Downstream Consumers

This page covers the spread-ratio and publication-row composition only. Downstream best-ex packs consume these rows by pointer: the Policy Mandate export below carries the declared inputs and computed payload as its payload. The link is static: this page never reads any downstream pack's data and no downstream pack ever reads this page.