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Facts of manipulation in the market for on-exchange trading in certain options established

15 апреля 2022 года

The Bank of Russia has established facts of market manipulation in on-exchange trading for margin call options on the USD/RUB exchange rate futures contract (contract codes: SI-3.22M170322CA76250, SI-3.22M170322CA86000, SI-3.22M170322CA70000) and the RTS Index futures contract (contract code: RTS-12.22M151222CA170000) (hereinafter, the Options) over the period from 1 July 2021 to 19 July 2021.

Transactions with the Options concluded in collusion between Dmitry B. Volkov and Yuliya P. Volkova caused significant deviations in the trading volume in absolutely all cases. D.B. Volkov and Y.P. Volkova are related to each other by kinship and were clients of the same professional securities market participant.

According to the findings of the investigation, these transactions qualify as market manipulation pursuant to Clause 2 of Part 1 of Article 5 of Federal Law No. 224-FZ, dated 27 July 2010, ‘On Countering the Misuse of Insider Information and Market Manipulation and Amending Certain Laws of the Russian Federation’ (hereinafter, Federal Law No. 224-FZ).

Accordingly, D.B. Volkov and Y.P. Volkova breached the prohibition established by Part 2 of Article 6 of Federal Law No. 224-FZ.

The Bank of Russia has sent binding orders to D.B. Volkov and Y.P. Volkova to cease and desist from future violations. These persons are also subject to administrative measures.

The Bank of Russia strongly recommends that professional securities market participants comply with the obligation to closely monitor their clients’ transactions in order to identify the signs of market manipulation, as well as to regularly explain to them the inadmissibility of market manipulation.

При использовании материала ссылка на Пресс-службу Банка России обязательна.