French bourse regulator fines Dutch traders for price manipulation

div classBodysc17zpet90 cdBBJodivpPARIS Reuters – French stock market regulator AMF has fined three Dutch equities traders and a Dutch company between 80,000 and 400,000 euros 422,000 each for manipulating prices through a technique known as “layering.”p

pThe AMF said on Tuesday that between 2013 and 2016 the traders manipulated the prices of several financial instruments, including shares, traded on the Euronext bourse in Paris. pdivdivdiv classBodysc17zpet90 cdBBJodiv

pIt said they did this through fast and multiple orders, creating the impression of strong selling or buying pressure, only to cancel orders just before execution, which created imbalances in order books and confusion for other market participants.p

p“The commission concluded that their actions constituted price manipulation through false or deceiving indications about offer, demand or prices of financial instruments,” it said. p

pOne of the companies owned by the traders was fined 200,000 euros, while the three traders were fined between 80,000 and 400,000 euros each. p

p1 0.9486 eurosp

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pp Reporting by GV De Clercq Editing by Mark Potterp

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