What is a wash trade and why is it prohibited?

Wash trading is a form of market manipulation where investors buy and sell the same financial product at the same time. This practice is prohibited by our regulators. 

More specifically, transferring positions through the market by (attempting to) match positions between related accounts, i.e., by simultaneously selling and buying the same financial instruments without any change in ownership and/or market risk, would be considered a breach of market abuse rules. We would therefore advise you to be aware of this and other relevant market rules and regulations when transacting in the financial markets.

For more information on market manipulation, please visit our regulator's website.