We are back after a break. We will publish a further catch up post over the coming days including on the Swiss BATE.

It has been announced by ACER and Konkurentsiamet, the Estonian National Regulatory Authority, that a firm was fined 16,000 EUR for placing a “phantom bid” in the balancing market. The activity happened on 1 April 2025 and involved the company placing a very low bid to allegedly avoid activation after having a capacity offer accpeted for that period the day before. ACER’s notice can be found here and Konkurentsiamet’s notice here.

ESMA has issued it’s annual report on the Suspicous Transaction or Order Reports(STOR) submitted under MAR. It can be found here and mainly covers 2025.

The UK’s Financial Conduct Authority has issued Marketwatch 86 which looks at the use of surveillance systems at Retail Brokers. While it is not directly relevant it nevertheless makes interesting reading. It can be found here