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ACER - REMIT Breach: Rock Trading World S.A. Fined For Manipulating The Spanish Gas Market


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 T ....

United Kingdom , Great Britain , Mercado Ib , Eu Regulation On Wholesale Energy Market Integrity , National Regulatory Authority , Electricity Markets Authority Ofgem , French Energy Regulatory Commission , Spanish National Commission , Rock Trading World , Wholesale Energy Market Integrity , Del Gas , Trading World , Guidance Note , Marketing Limitedfor , French Southern , Gas Trading Point , Electricity Markets Authority , Engie Global Markets , Energy Regulators , ஒன்றுபட்டது கிஂக்டம் , நன்று பிரிட்டன் , யூ ஒழுங்குமுறை ஆன் மொத்த ஆற்றல் சந்தை நேர்மை , தேசிய ஒழுங்குமுறை அதிகாரம் , பிரஞ்சு ஆற்றல் ஒழுங்குமுறை தரகு , ஸ்பானிஷ் தேசிய தரகு , மொத்த ஆற்றல் சந்தை நேர்மை ,