The European Securities and Markets Authority published a readout from the eighth Energy Trading Enforcement Forum, the annual meeting of energy and financial regulators alongside ESMA and the Agency for the Cooperation of Energy Regulators (ACER), focused on market abuse risks spanning energy and financial products. Discussions in Paris on 6 November covered emerging trends in manipulative behaviour linked to algorithmic trading and the first referrals by National Competent Authorities to prosecutors for market abuse cases involving energy products classified as financial instruments. Participants also stressed data sharing and continued cross-authority cooperation given that oversight of potential market abuse in energy and related financial trading is split across the Wholesale Energy Market Integrity and Transparency framework and the Market Abuse Regulation.
European Securities and Markets Authority 2025-11-28
European Securities and Markets Authority reviews algorithmic trading manipulation trends and first prosecutor referrals at the Energy Trading Enforcement Forum
The European Securities and Markets Authority summarized the eighth Energy Trading Enforcement Forum, focusing on market abuse risks in energy and financial products. Key topics included manipulative behavior in algorithmic trading and initial referrals by National Competent Authorities for market abuse cases involving energy products as financial instruments. Emphasis was placed on data sharing and cross-authority cooperation due to divided oversight under the Wholesale Energy Market Integrity and Transparency framework and the Market Abuse Regulation.