Facts of market manipulation in on-exchange trading for futures contracts established
The Bank of Russia established facts of market manipulation in on-exchange trading for futures contracts for raw sugar (SUGR-10.21, SUGR-3.22, SUGR-5.22), for ordinary shares of MTS PJSC (MTSI-12.21), for ordinary shares of PJSC Rostelecom (RTKM-9.21) (hereinafter, the Futures Contracts) over the period from 30 March 2021 to 25 February 2022.
Transactions with the Futures Contracts concluded in collusion between Ilfat I. Ziganshin and Maria S. Kalinchikova caused significant deviations in the trading volume in absolutely all cases. Transactions were conducted by I.I. Ziganshin with the consent of M.S. Kalinchikova, who had authorised the former to manage her account. However, I.I. Ziganshin did not have a duly executed document authorising him to interact with a professional securities market participant on behalf of M.S. Kalinchikova.
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.
Thus, I.I. Ziganshin and M.S. Kalinchikova violated the prohibition stipulated by Part 2 of Article 6 of Federal Law No.
The Bank of Russia has sent binding orders to I.I. Ziganshin and M.S. Kalinchikova to cease and desist from similar violations in the future. Furthermore, these persons are subject to administrative proceedings.
Instructions were sent to the professional securities market participants, whose clients are I.I. Ziganshin and M.S. Kalinchikova, to suspend on-exchange transactions and operations on behalf of the said clients who forwarded their orders to the broker via the software and hardware facilities used to submit clients’ trading orders via the Internet.
The Bank of Russia draws the attention of professional securities market participants to the risks of disclosure of personal data (logins and passwords) relating to interaction with a professional securities market participant to third parties.
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