Facts of market manipulation in on-exchange trading for futures contracts established

The Bank of Russia has established facts of market manipulation in on-exchange trading for a number of futures contracts¹ (hereinafter, the Futures) in the period from 23 August to 26 October 2022.

Brokerage accounts of relatives Mikhail I. Antonov, Ilyia M. Antonov, Svetlana V. Antonova, and Anastasiya M. Antonova were used to make transactions with the Futures in collusion. These transactions caused significant deviations in the trading volumes of the Futures.

According to the findings of the investigation, these transactions are qualified 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).

Thus, M.I. Antonov, I.M. Antonov, S.V. Antonova, and A.M. Antonova 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 M.I. Antonov, I.M. Antonov, S.V. Antonova, and A.M. Antonova to cease and desist from similar violations in the future. Furthermore, these persons are subject to administrative proceedings, and transactions in their trading accounts are suspended.

The reference to the Press Service is mandatory if you intend to use this material.