Circular Trading definition
Circular Trading means and relates to trading and transactions by a member or group of members, wherein on one side, one or more entities of the member or group of members enter buy bids and on the other side, one or more entities of the same member or same group of members enter sell bids or vice versa, by design to manipulate the price of electricity or by design to create an artificial market or to defraud or misuse the system;
Circular Trading means and relates to trading by a client or an exchange member or a group of related exchange members and/or their clients, normally through more than one exchange member and executing trades, with one or more entities of this group entering buy orders and on the other side one or more entities of the same group and/or with other unconnected entities in the market entering sell orders or vice versa with a design to manipulate the price of a contract and/or to create artificial volumes in a contract.
Circular Trading means a fraudulent trading scheme where sell orders are entered by a member or client, who knows that offsetting buy orders, the same number of contract in commodities at the same time and at the same price, either have been or will be entered.