NO.PZ2021101401000033
问题如下：
Bloomfield mentions that a regulatory body is investigating a competitor’s trading practices. The investigation involves a tip that the competitor is manipulating markets by submitting orders and arranging trades to influence other traders’ perceptions of value. Specifically, regulators were informed that the competitor has been buying stock to raise its price, thereby encouraging momentum traders to buy, and then selling the stock to them at higher prices. The regulator confirmed that the competitor did not use standing limit orders or commonly controlled accounts for the trades under investigation.
The competitor company’s trading is best described as:
选项：
A.bluffing
wash trading.
Spoofing.
解释：
A is correct. Bluffing involves submitting orders and arranging trades to influence other traders' perceptions of value. Bluffers often target momentum traders, who buy when prices are rising and sell when prices are falling. Similarly, Zhang mentioned that regulators learned the competitor has been buying stock to inflate its price, attracting momentum traders to buy, and then selling the stock to them at higher prices.
B is incorrect because the competitor did not use commonly controlled accounts—typically used in wash trading—for the trades under investigation. Wash trading consists of trades arranged among commonly controlled accounts to create a false impression of market activity at a particular price. The purpose of wash trading is to deceive investors into believing a market is more liquid than it truly is.
C is incorrect because the competitor did not use standing limit orders—typically used in spoofing—for the trades under investigation. Spoofing is a trading practice where traders place exposed standing limit orders to create a false impression of market liquidity or to suggest a security is under- or overvalued.
这一章的 “ improer mkt activities" and "mkt manipulation strategies"其实有什么分别呢？ “ improer mkt activities"里的四种行为也是市场操纵的一种啊
