Security Market Manipulation

Chester Spatt ()
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Chester Spatt: Tepper School of Business, Carnegie Mellon University, Pittsburgh, Pennsylvania 15213

Annual Review of Financial Economics, 2014, vol. 6, issue 1, 405-418

Abstract: This article uses a variety of contemporary developments to address artificial market pricing and market manipulation. It examines a variety of modern trading tactics and manipulation strategies in the context of trading and order mechanics. For example, I raise the connection between so-called best execution, cancellation rates, and manipulation. I explore the connection between manipulation and short exposures as well as potential connections between Federal Reserve policies and artificial pricing. I also examine the nature of market manipulation in different facets of the trading day and the transitions among these.

Keywords: manipulation; trading tactics; short selling; opening/closing prices; sniping; quote stuffing (search for similar items in EconPapers)
JEL-codes: G1 G14 G18 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (9)

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