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

13 July 2023
Press release

Facts of market manipulation in on-exchange trading for futures contracts1 (hereinafter, the Futures Contracts) in the period from 30 November 2022 to 14 February 2023 have been established.

Transactions with the Futures Contracts concluded in collusion between Aleksei V. Sokolov, Nadezhda N. Sokolova and Artem O. Yusov caused significant deviations in the trading volume in 100% cases.

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, A.V. Sokolov, N.N. Sokolova and A.O. Yusov violated the prohibition stipulated by Part 2 of Article 6 of Federal Law No. 224-FZ.

The Bank of Russia has sent binding orders to A.V. Sokolov, N.N. Sokolova and A.O. Yusov 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.

1 Futures contracts for nickel (Nl-2.23, Nl-3.23), the RTS Index (RTS-12.23, RTS-12.24, RTS-3.24, RTS-6.24, RTS-9.23, RTS-9.24), CPT Novorossiysk Russian Wheat Index (WHEAT-6.23).

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