What's the meaning of “market manipulation”?

Must not engage in practices that

distort prices or artificially inflate trading volume （扭曲價(jià)格、虛增交易量）

with the intent to mislead market participants. （目的是誤導(dǎo)投資者）

Market manipulation includes:

Info-based: The dissemination of false or misleading information.

Transaction-based: Transactions that deceive or would be likely to mislead market participants by distorting the price-setting mechanism of financial instruments.

Not prohibit legitimate trading strategies that exploit a diff in market power, info, or other inefficiency.（利用市場(chǎng)的無效性）

Not prohibit trade for tax purposes, selling then buying back. （為了稅收目的）

      Futures Exchange signed the contract with Market Maker to insure the minimum trading volume by deceasing commission. If for the interest of clients and disclosed, Not violate. （交易所與做市商有約定，如果達(dá)到一定的交易量可以減少傭金，如果這種利益歸屬于客戶且披露了，沒有違反市場(chǎng)操縱準(zhǔn)則）