Market manipulation proven in construction material auctions
The Bank of Russia has established facts of market manipulation by two participants in construction material auctions. In May 2025, LLC ICC Stroyingineering and LLC RSK executed concerted transactions worth over ₽1.6 million.
Concerted bids in reinforcing bar auctions
In May 2025, JSC EXCHANGE CTS organised two reverse auctions for reinforcing bars where market manipulation took place.
LLC ICC Stroyingineering and LLC RSK conducted transactions to buy and sell construction materials valued at over ₽1.6 million.
During the trading sessions, these legal entities acted in a concerted manner, directly causing a significant deviation in the amount of trading from the level that would have been achieved without such coordinated actions.
The regulator investigated the trading patterns and confirmed that the transaction volumes and price formations were artificially influenced by the collusion between the two participating companies, undermining the integrity of the organised commodity market infrastructure.
Administrative penalties and cease-and-desist orders
The coordinated actions were officially qualified as market manipulation pursuant to Clause 2 of Part 1 of Article 5 of the relevant Federal Law.
Consequently, both legal entities were held administratively liable for their regulatory breaches and received binding orders to cease and desist from similar violations in the future.
The central bank emphasised that trading participants are strictly prohibited from conducting collusive transactions in commodity markets featuring anonymous order matching.
Zero tolerance for auction collusion
This enforcement action highlights the central bank's focus on fair pricing in domestic commodity exchanges.
Punishing collusive schemes sends a clear deterrent signal to all active trading participants.
Regulatory vigilance over anonymous order matching remains essential to preserve market integrity.