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disclosure of those statements and reports to the public in accordance
with legislation, is considered and treated as market abuse.
Transactions regarding relevant capital market instruments by per-
sons having inside or periodic information or by the spouse, children,
or cohabitants of such persons, during the period starting from the date
of the finalization of inside or periodic information until the date of
disclosure of such information to the public in accordance with legis-
lation, is considered and treated as market abuse.
MarketAbuseActions with respect to the Orders or Transactions
Actions and acts by persons acting alone, or together, through
stock markets, or in other organized markets, which may be deemed as
material or effective, taking into account the determined value of the
capital market instruments, price variations, transaction volumes,
transaction amounts, transaction rates, order amounts, order rates,
order cancellation amounts, order cancellation rates or order execution
rates, distorting the reliability, transparency and stability of stock mar-
kets and other organized markets, or creating wrong or false impres-
sions regarding prices, price variations, supply and demand of capital
market instruments, or preventing competitive environments of the
market, or formation of fair or correct prices:
a) by selling and purchasing, executing account activities, giving
orders, or cancelling or changing orders; or
b) transmitting orders at different price levels; or
c) by giving reverse orders within a period of less than one
minute, such as a selling order at a price equal to or lower than
the best purchase price in the market, or a buying order at a
price equal to or higher than the best sale price; or
d) executing transactions with itself or reciprocal transactions; or
e) by executing transactions with the purpose of affecting open-
ing or closing prices;
f) executing transactions with the purpose of affecting the end-
of-day or end-of-maturity settlement prices; or
g) executing transactions with the purpose of increasing, decreas-
ing, or maintaining the price; or
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