Closing auction
A closing auction gathers orders into a single batch to set the official closing price. Concentrating the close into an auction improves price formation but also creates one identifiable moment worth attacking.
Where does closing auction come up?
This term is used in the following manipulation techniques, each explained in full on its own page.
Enforcement actions involving these techniques
| Action | Agency | Filed | Technique | Penalty | Status |
|---|---|---|---|---|---|
| SEC v. Canaccord Genuity LLC (marking the close, 2026) | SEC | 2026-03-06 | Marking The Close , Marking The Open +2 | — | settled |
| SEC v. Ahmad Haris Tajyar and Eric Leo Marsoubian (marking the close, 2021) | SEC | 2021-08-13 | Marking The Close , Matched Orders +1 | $220k | settled |
| SEC v. Andrew J. Kandelapas (marking the close, 2019) | SEC | 2019-06-21 | Marking The Close | — | judgment |
| SEC v. Lai Guanglin (Alan) (marking the close, 2018) | SEC | 2018-12-10 | Marking The Close , Price Manipulation | — | settled |
| SEC v. Richard P. Cedrone, Steven R. Ferris and George R. Thoreson (marking the close, 2017) | SEC | 2017-09-05 | Marking The Close | $75k | judgment |