Facts of market manipulation in transactions with futures contracts have been established

By admin On Dec 21, 2023

The Bank of Russia has established facts of market manipulation in transactions with futures contracts¹ (hereinafter referred to as futures) on organized trading from 31.10.2022 to 23.11.2022.

Chufarova Galina Ivanovna, Markova Alexandra Arkadyevna, Kuzmin Alexander Konstantinovich made mutual transactions with Futures to improve trading statistics of accounts in one of social networks and attract subscribers. These transactions resulted in significant deviations in the trading volume of the Futures. In the said persons further planned to create an investment chat room in the messenger Telegram.

According to the inspection, the said operations are related to market manipulation in accordance with paragraph 2 part 1 article 5 of the Federal Law dated 27.07.2010 № 224-FZ “On countering the illegal use of insider information and market manipulation and on amending certain legislative acts of the Russian Federation” (hereinafter referred to as Federal Law № 224-FZ)

So, Chufarova G.I., Markova A.A. and Kuzmin A.K. violated the prohibition established by Part 2 of Article 6 of Federal Law No. 6 224-FZ.

The Bank of Russia sent instructions to G.I. Chufarova, A.A. Markova and A.K. Kuzmin to prevent similar violations in the future, and also restricted operations on their trading accounts.

The Bank of Russia sent instructions to G.I. Chufarova, A.A. Markova and A.K. Kuzmin to prevent similar violations in the future

The Bank of Russia draws the attention of private investors to the need to critically evaluate information about investment activities contained in messengers and other open sources when making trading decisions.

The Bank of Russia draws the attention of private investors to the need to critically evaluate information about investment activities contained in messengers and other open sources

¹ Futures contracts on ordinary shares of PJSC Rostelecom (RTKM-3.23), PJSC PhosAgro (PHOR-3.23), PJSC Sistema Joint Stock Financial Corporation (AFKS-3.23), PJSC Samolet Group (SMLT-3.23), PJSC “Federal Grid Company – Rosseti” (FEES-3.23), PJSC “Gazprom Neft” (SIBN-3.23), PJSC “Magnit” (MGNT-3.23), PJSC PJSC PIK NW (PIKK-3.23), ICJSC RUSAL (RUAL-3.23), PJSC RusHydro (HYDR-3.23), PJSC Aeroflot (AFLT-3.23), on RGBI index (RGBI-12.22).

Accordingly, the following indexes are traded on the RGBI index (RGBI-12.22)

When using the material, reference to the Press Service of the Bank of Russia is obligatory.