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CIRO Daily Challenge — April 4, 2026 | EnCiro | EnCiro

Daily Challenge/April 4, 2026

🔥 Daily ChallengeCIREMarket integrity, trade execution and settlementMedium

What is the primary rationale for prohibiting the solicitation of orders when a Participant has knowledge of a pending price-moving client order?

1 attempts · 100% correct

To prevent the Participant from earning multiple commissions on the same security

To reduce the overall volume of trading in volatile securities

To prevent the unfair passing of an advantage to a third party at the expense of the original clientCorrect

To ensure that all market participants have equal access to proprietary research

Why

Soliciting others to trade ahead effectively allows a third party to profit from the client's expected price impact, undermining market integrity.

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