CFTC Rule 180.2

Prohibits the manipulation, and attempted manipulation, of the price of any swap, commodity or future.

Rule Overview

Jurisdiction: United States

Regulator: CFTC

Topic: Market Abuse

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Further Reading

This CFTC Rule implements CEA 1936 Section 6(c)(3).

The rule is broadly drafted in order to catch any type of price manipulation including:

  • Spoof trades
  • Wash trades
  • Price rigging
  • False reporting
  • Corners and Squeezes
  • Marking the Close

It is important for surveillance and communication capture because manipulative intent must be demonstrated by a regulator.

Communications provide the context necessary for a regulator to establish that intent to manipulate price actually existed.

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