Glossary
PAMM / MAM (Percentage allocation management module / Multi-account manager)
PAMM and MAM are arrangements in which one manager trades for several investor accounts, and each order is allocated across them by percentage, lots or equity.
Why it matters for brokers and payment firms
Allocated deals appear as many simultaneous trades of related sizes. Surveillance needs the master and sub-account mapping to avoid false wash-trading alerts, and turnover per investor to catch churning.