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Market manipulation

Market manipulation or any attempt to engage in market manipulation is prohibited. Market manipulation shall comprise the following activities.

It is prohibited, amongst other things, to give false or misleading signals as to the supply of, demand for, or price of a financial instrument. Furthermore, it is prohibited to secure the price of a financial instrument at an abnormal or artificial level.

Newly incorporated into the European Market Abuse Regulation, the MAR, is the prohibition to manipulate the calculation of a benchmark by transmitting false or misleading information of inputs.

The exact definition of market manipulation is described in Article 12 of the MAR. The prohibition of (attempted) market manipulation is described in Article 15 of the MAR.

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