Matched order
A matched order is a prearranged trade between two parties acting in concert, entered so that they execute against each other at a chosen price. Unlike a wash trade the owners differ, but the price is agreed rather than discovered.
Where does matched order 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. Shreedhar Yellaiah Kodam (synchronized trades, Well Pack Papers, 2026) | SEBI (India) | 2026-09-22 | Matched Orders , Price Manipulation | — | dismissed |
| SEC v. Corey Ortiz (free riding and parking, 2026) | SEC | 2026-09-03 | Free Riding And Parking , Matched Orders | — | judgment |
| SEBI v. Hanif Shekh and others (price and volume manipulation in five scrips, Mauria Udyog and others, 2026) | SEBI (India) | 2026-06-30 | Matched Orders , Pump And Dump +1 | — | judgment |
| SEC v. Christopher Flagg, Daquan Lloyd and Travis Treusch (free riding and parking, 2026) | SEC | 2026-04-30 | Free Riding And Parking , Matched Orders | — | judgment |
| SEBI v. Harsha Ishvarbhai Solanki and others (trading in ANI Integrated Services, 2026) | SEBI (India) | 2026-02-12 | Price Manipulation , Matched Orders | — | judgment |