{"id":47816,"date":"2023-12-12T10:14:28","date_gmt":"2023-12-12T09:14:28","guid":{"rendered":"https:\/\/www.fma.gv.at\/crossings\/"},"modified":"2023-12-12T21:41:35","modified_gmt":"2023-12-12T20:41:35","slug":"crossings","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/crossings\/","title":{"rendered":"Latest edition of the FMA’s series “Let’s talk about money”: self-dealing – also known as crossings – is forbidden on the stock exchange!"},"content":{"rendered":"

Anyone placing opposing orders (buy and sell) close to one another for the same security on the stock exchange in a way that results in them being both the buyer and seller of the executed transaction risks committing prohibited market manipulation. Such self-dealing, where there is no change of beneficial owner, may create an abnormal and artificial price level or send out false or misleading signals about supply and demand for this security. An offence[1]<\/a>, that can result in a severe fine regardless of whether it was committed intentionally, knowingly or unknowingly. In the latest edition of its consumer information series \"Let's talk about money!\", the FMA therefore explains in a concise and understandable way what is meant by \"crossings\" in stock exchange transactions, why they are frowned upon and how they can be avoided.<\/p>

Ignorance is no protection against punishment<\/h2>

The FMA analyses around 100 such suspected cases every year, and subsequently sanctions dozens (of frequently inexperienced) retail investors. Such orders partially occur as a result of ignorance or carelessness. Investors should therefore ensure that:<\/p>