Related provisions for APER 4.1.12
1 - 4 of 4 items.
The6 following factors are to be taken into account when considering whether behaviour6is for legitimate reasons in relation to article 12(1)(a) of the Market Abuse Regulation6, and are indications that it is not:(1) if the person has an actuating purpose behind the transaction to induce others to trade in, bid for5 or to position or move the price of, a financial instrument6; (2) if the person has another, illegitimate, reason behind the transactions, bid5 or
The6 following factors are to be taken into account when considering whether behaviour6is for legitimate reasons in relation to article 12(1)(a) of the Market Abuse Regulation6, and are indications that it is:(1) if the transaction is pursuant to a prior legal or regulatory obligation owed to a third party;(2) if the transaction is executed in a way which takes into account the need for the market or auction platform5 as a whole to operate fairly and efficiently;(3) the extent
It is unlikely that the behaviour6of trading venue6 users when dealing5 at times and in sizes most beneficial to them (whether for the purpose of long term investment objectives, risk management or short term speculation) and seeking the maximum profit from their dealings will of itself amount to manipulation6. Such behaviour6, generally speaking, improves the liquidity and efficiency of trading venues6. 555
It is unlikely that prices in the market which are trading outside their normal range will necessarily be indicative that someone has engaged in behaviour with the purpose of positioning prices at a distorted level. High or low prices relative to a trading range can be the result of the proper interplay of supply and demand.
The6following factors are to be taken into account in determining whether or not a person'sbehaviour6amounts to manipulating transactions as described in article 12(1)(a)(ii) of the Market Abuse Regulation: 6(1) the extent to which the person had a direct or indirect interest in the price or value of the financial instrument6; (2) the extent to which price, rate or option volatility movements, and the volatility of these factors for the investment in question, are
The following are examples of behaviour that may amount to manipulating transactions as described in article 12(1)(a)(ii) of the Market Abuse Regulation6: (1) [deleted] 6(2) [deleted] 6(3) a trader holds a short position that will show a profit if a particular financial instrument6, which is currently a component of an index, falls out of that index. The question of whether the financial instrument6 will fall out of the index depends on
A benchmark administrator must:(1) have effective arrangements and procedures that allow the regular monitoring and surveillance of benchmark submissions:(2) monitor the benchmark submissions in order to identify breaches of its practice standards (set out in MAR 8.3.10R (1)) and conduct that may involve manipulation, or attempted manipulation, of the specified benchmark it administers and provide to the oversight committee of the specified benchmark timely updates of suspected
The arrangements and procedures referred to in MAR 8.3.6R (1) should include (but not be limited to):(1) carrying out statistical analysis of benchmark submissions, using other relevant market data in order to identify irregularities in benchmark submissions; and(2) an effective whistle-blowing procedure which allows any person on an anonymous basis to alert the benchmark administrator of conduct that may involve manipulation, or attempted manipulation, of the specified benchmark
A benchmark submitter who suspects that any person(1) is manipulating, or has manipulated, a specified benchmark;(2) is attempting, or has attempted, to manipulate a specified benchmark; or(3) is colluding, or has colluded, in the manipulation or attempted manipulation of a specified benchmark;must notify the FCA without delay.