Insider trading

Insider trading is dealing on material non-public information in breach of a duty of trust or confidence. It is distinct from manipulation: it exploits a true signal others cannot see, rather than injecting a false one.

instruments and markets · updated 2026-10-16

Where does insider trading come up?

This term is used in the following manipulation techniques, each explained in full on its own page.

• Insider trading — Insider trading is dealing in securities on material non-public information in breach of a duty of trust or confidence, which exploits a true signal others cannot see rather than injecting a false one into the price.

Enforcement actions involving these techniques

See also

• Material non-public information — Material non-public information is information a reasonable investor would consider important that has not been disclosed to the m…
• Misappropriation theory — The misappropriation theory holds that trading on confidential information in breach of a duty owed to its source is securities fr…

Terms that refer here

Hack to trade · Material non-public information · Misappropriation theory

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