ADOPTION OF A DISCIPLINARY MEASURE AGAINST TWO PARTICIPANTS FOR BREACHING THE NATURAL-GAS MARKET RULES
Pursuant to Article 87, paragraph 87.1, of the Natural-gas Market Rules (Rules), Gestore dei Mercati Energetici S.p.A. hereby informs that, on 2 March 2020, pursuant to article 85, paragraph 85.1, subpara. b), of the Rules, adopted the disciplinary measure of the suspension from the Natural-Gas Market (MGAS) for 1 (one) month against two MGAS participants for breaching article 83 of the Rules, as they have:
- misused - like a bilateral trading system - a central counterparty market characterized by anonymity between participants;
- entered in the order book bids/offers at prices above 50% of the current market values, setting the conditions for a possible alteration of the market sessions concerned, given that this conduct could have induced other MGAS participants to take similar positions in relation to prices misaligned with the market trend, thus risking to generate a negative impact on the regular price formation mechanism on the market itself.
Date: 02/04/2020