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New FCA Marketwatch and other anti abuse news

There have been several anti abuse updates since our last post on the topic here:

The UK’s Financial Conduct Authority (FCA) has published this new “Market Watch” newsletter, which provides some new examples of behaviours that would be considered market manipulation and therefore a breach of MAR. The behaviours are “flying” and “printing”, the practice of giving the impression of orders placed or trades executed at erroneous prices. The misleading prices may be provided using any mechanism, be it screen, chat, telephone or otherwise.

In the US, many new cases are being pursued by regulators and exchanges, as reported here on the Wall Street Journal web site. Many of these cases involve “spoofing” and similar activity. There have been several exchange based fines including this one on Nymex and this one on Comex.  The DCM blog, found here, lists several more.


About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


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