Volume-weighted average price
The volume-weighted average price is the average price over a period, weighted by volume traded at each price. It is used both as an execution benchmark and as a contractual reference, which makes it a manipulation target in its own right.
Where does volume-weighted average price come up?
This term is used in the following manipulation techniques, each explained in full on its own page.
Enforcement actions involving these techniques
| Action | Agency | Filed | Technique | Penalty | Status |
|---|---|---|---|---|---|
| SEC v. Canaccord Genuity LLC (marking the close, 2026) | SEC | 2026-03-06 | Marking The Close , Marking The Open +2 | — | settled |
| ASIC v. COFCO International Australia Pty Ltd (marking the close, 2024) | ASIC | 2024-07-24 | Marking The Close , Price Manipulation | — | unknown |
| ASIC v. Interactive Brokers (marking the close, 2023) | ASIC | 2023-09-20 | Marking The Close | — | unknown |
| SEC v. Ahmad Haris Tajyar and Eric Leo Marsoubian (marking the close, 2021) | SEC | 2021-08-13 | Marking The Close , Matched Orders +1 | $220k | settled |
| SEC v. Andrew J. Kandelapas (marking the close, 2019) | SEC | 2019-06-21 | Marking The Close | — | judgment |