Suspicious manipulations cause speculation at the WSE
The issue will now be handled by the prosecutor. "Accusations presented by KNF are serious. It looks like manipulation. It is good that the supervisory board handled this issue that well," said Wieslaw Rozlucki, former president of the WSE.
The bid had a value of zł.130 million of which zł.100 million was carried out as a shares purchase. A broker acted on behalf of JP Morgan Securities, and decided to carry out his own economic interests related to futures contracts. Previously a broker at the Polish side was informing that the execution of such a bid could significantly influence the condition of the market. However, he was being informed that there will be a huge sales order at the other side and despite it was not carried out, the client decided to push through with the transaction.
The task of the prosecutor will be to point out who personally made this order and wanted to influence share prices on the side of JP Morgan.
Sources: Rzeczpospolita, Parkiet
The bid had a value of zł.130 million of which zł.100 million was carried out as a shares purchase. A broker acted on behalf of JP Morgan Securities, and decided to carry out his own economic interests related to futures contracts. Previously a broker at the Polish side was informing that the execution of such a bid could significantly influence the condition of the market. However, he was being informed that there will be a huge sales order at the other side and despite it was not carried out, the client decided to push through with the transaction.
The task of the prosecutor will be to point out who personally made this order and wanted to influence share prices on the side of JP Morgan.
Sources: Rzeczpospolita, Parkiet
