It has been announced by the Comisión Nacional de los Mercados y la Competencia (CNMC), the Spanish National Regulatory Authority, that a fine of 60,000 Euros has been levied on Rock Trading World, S.A for “layering” on the MIBGAS Organised Market Place. The announcement from the CNMC (in Spanish) can be found here. The full ruling can be found here.

This is the first REMIT market manipulation fine levied in 2021, despite many other market abuse cases worldwide(see here). The is also the fourth REMIT fine levied for placing “phantom orders” via spoofing or layering. ACER’s guidance note on the topic can be found here.