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ACER - REMIT Breach: Rock Trading World S.A. Fined For Manipulating The Spanish Gas Market Date 23/04/2021 The Spanish National Commission of Markets and Competition (CNMC) published today a decision in which it holds that the company Rock Trading World, S.A. (‘Rock Trading World’) manipulated the Spanish gas wholesale market between 3 and 7 November 2018, breaching the EU Regulation on Wholesale Energy Market Integrity and Transparency (REMIT). CNMC has imposed payments amounting to € 60,000. CNMC found that Rock Trading World engaged in market manipulation, consisting in issuing non-genuine orders and executing transactions involving low volumes on the sell side of the market in order to provide false signals of a downward price trend, so that it could purchase large volumes of gas at lower prices on the within day products traded at Mercado Ibérico del Gas (MIBGAS). Such behaviour was repeated for four days. Furthermore, on 5 November 2018, Rock Trading World al

United kingdomGreat britainMercado ibEu regulation on wholesale energy market integrityNational regulatory authorityElectricity markets authority ofgemFrench energy regulatory commissionSpanish national commissionRock trading worldWholesale energy market integrityDel gasTrading worldGuidance noteMarketing limitedforFrench southernGas trading point