Cross-market surveillance
Cross-market surveillance joins data from several venues or several instruments to detect schemes that are invisible in any one of them, such as moving a futures price to profit in the related cash market.
Where does cross-market surveillance 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 |
|---|---|---|---|---|---|
| SEBI v. Aventis Biofeeds Private Limited and others (closing-session price ramp, Ruchi Soya, 2022) | SEBI (India) | 2022-04-29 | Marking The Close , Settlement Price Manipulation | — | judgment |
| CFTC v. Statoil ASA (price manipulation, 2017) | CFTC | 2017-11-14 | Price Manipulation , Settlement Price Manipulation | $4m | settled |
| CFTC v. Joseph F. Welsh III (price manipulation, 2015) | CFTC | 2015-06-19 | Price Manipulation , Settlement Price Manipulation | $500k | judgment |
| CFTC v. Lloyds Banking Group and Lloyds Bank (benchmark submission rigging, 2014) | CFTC | 2014-07-28 | Benchmark Submission Rigging , Cash Vs Derivatives Schemes +1 | $105m | settled |
| CFTC v. Daniel Shak and SHK Management LLC (banging the close, 2013) | CFTC | 2013-11-25 | Banging The Close , Price Manipulation +1 | $400k | settled |