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We use the internal trading records of a major Bitcoin exchange leaked by hackers to detect and characterize wash trading—a type of market manipulation in which a single trader clears the trader’s own limit orders to “cook” transaction records. Our ...

The cryptocurrency market cap has experienced a great increase in recent years. However, large price fluctuations demonstrate the need for governance structures and identify whether there are market manipulations. In this article, we conduct three ...

The aim of this article is to present a set of comparative corporate governance standards in some Northern Asian countries, including Bangladesh and Mongolia. There are strengths and weaknesses in these codes or practices which will be identified in ...

The stock market, one of the most important trading platforms, has been subject to many market manipulation practices since its emergence. At present, the phenomenon of market manipulation has become an obstacle that restricts the development of ...

Flash Loan, a popular lending service in the decentralized finance (DeFi) ecosystem, allows users to borrow a large number of virtual assets without any collateral. It can be leveraged to support many financial activities (such as arbitrage, ...

How Bookies Can Outwit Sophisticated Bettors

Sports-betting markets are based entirely on predictions. A bettor has to pick a winning contestant, and a market maker―a bookie―bets on the opponent. As bookies have to take the other side of every bet, it is ...

We study the profit-maximization problem of a market maker in a spread betting market. In this market, the market maker quotes cutoff lines for the outcome of a certain future event as “prices,” and bettors bet on whether the event outcome exceeds the ...

We study learning-based trading strategies in markets where prices can be manipulated through spoofing: the practice of submitting spurious orders to mislead traders who use market information. To reduce the vulnerability of learning traders to such ...

The volume of transactions in financial markets is impressive: e.g., every four days an amount similar to the USA GDP flows through the Forex (foreign exchange, which is only one of the several financial markets). Currently, financial markets are ICT-...

The spread betting market is a prevalent form of prediction market. In the spread betting market, participants bet on the outcome of a certain future event. The market maker quotes cutoff lines as "prices," and bettors take sides on whether the event ...

Electronic marketplaces and the automation of trading have transformed the financial market from a human-decision ecosystem to an algorithmic one. Questions and challenges that arise from this new algorithmic ecosystem naturally lend themselves to ...

Order matching systems form the backbone of modern equity exchanges, used by millions of investors daily. Thus, their operation is strictly controlled through numerous regulatory directives to ensure that markets are fair and transparent. Despite these ...

Financial markets are primarily driven by three key drivers, technologies, competition and globalization. These drivers are accompanied with challenging risks. Market authorities monitor activities in order to reduce to the barest minimum the adverse ...

This paper presents an overview of fraud detection in securities market as well as a comprehensive literature review of data mining methods that are used to address the issue. We identify the best practices that are based on data mining methods for ...

In stock markets, an emerging challenge for surveillance is that a group of hidden manipulators collaborate with each other to manipulate the price movement of securities. Recently, the coupled hidden Markov model (CHMM)-based coupled behavior analysis (...

In this paper cross border market surveillance activities are modeled as service systems which exist and interact in a service-oriented economy. Moreover, the market monitoring and surveillance activities are described as a user or customer-driven ...

In capital market surveillance, an emerging trend is that a group of hidden manipulators collaborate with each other to manipulate three trading sequences: buy-orders, sell-orders and trades, through carefully arranging their prices, volumes and time, ...