Flash Crash - Trader Arrested...!?!

[avion]

Love it.

I see countless Posts on nasty market manipulation tactics
then when one gets done---screams of state terrorism.

fark me.

Because that's what it is Tech. They never get it 'right'. Just think who the real villain here is. The real manipulators (read HFT) get away while they nab small time player. It stinks all the way to the moon and back. Read zerohedge, they nailed it.

 

[tech/a]

Because that's what it is Tech. They never get it 'right'. Just think who the real villain here is. The real manipulators (read HFT) get away while they nab small time player. It stinks all the way to the moon and back. Read zerohedge, they nailed it.

Nah

They got it right.

Hiring programmers to programme a method which deliberately spoofs the market.
Remember many lost 1000s---this is calculated and fraudulent.

You suggest they do nothing?

 

[sinner]

Love it.

I see countless Posts on nasty market manipulation tactics
then when one gets done---screams of state terrorism.

fark me.

He hasn't been "done", he hasn't even stood trial, therefore innocent until proven guilty.

Proving guilt beyond a reasonable doubt will involve evidence. Unfortunately, as with other similar cases related to hacking for example, it will be difficult to find a jury of this mans peers, since most people have not even the remotest of clue about the subject matter at hand. Same goes for the judge. The probability of an unfair conviction is high.

If you read the above letter from the accused, you might be forgiven for mistaking him for Trembling Hand.

I was trading USDJPY intraday on the night of the flash crash. This is a FX pair that has billions in notional waiting in the order book, normally about $10bn in flow pushes the price less than 1 pip. Take a look at the chart to see how far it moved on that night.

If some foreign, individual, trading S&P500 Eminis like that can spike volatility in the entire global financial complex then he is definitely not the most criminal person in the room. Occams Razor dictates that the probability of valid evidence against this guy is low.

As banco pointed out months ago:

Yeah but he's not an American citizen and isn't a hedge fund boss so in the scheme of things he's a perfect scapegoat. What does it say about the integrity of US markets if somebody with (in the scheme of things) not a great deal of money and some fairly crude software can manipulate the US futures markets?

 

[sinner]

Nah

They got it right.

lololol, tech is judge jury and executioner.

Hiring programmers to programme a method which deliberately spoofs the market.
Remember many lost 1000s---this is calculated and fraudulent.

You suggest they do nothing?

The suggestion being that if they are going to pretend to be serious about "the 1000s many lost", perhaps they start at the top of the pyramid of egregious financial crimes and work their way down, with this guy being at the very very bottom of the pyramid.

 

[avion]

'they' = was referring to SEC

Saraos 'spoofing' mounted to few programmed functions (Join/Snap/Ice as per his letter)! I wish i was big enough to 'spoof' market like that!!

Let's just hope he gets off so we can put this behind us and focus more on outplaying the real thief's.

 

[avion]

Nah

They got it right.

Hiring programmers to programme a method which deliberately spoofs the market.
Remember many lost 1000s---this is calculated and fraudulent.

You suggest they do nothing?

Hahaha... just got your sarcasm Tech. Sorry i am too distracted atm.

 

[avion]

http://www.zerohedge.com/news/2015-09-10/we-now-know-what-happened-612-am-morning

'In summary: what we do know: a nearly 1% move up and down in the S&P due to blatan - and illegal - spoofing manipulation; what we don't know: the identity of the spoofer.

What is certain: if the culprit is a central bank or one of its trading agents like Citadel, the CFTC will never follow up. If it is some Indian living in his parents' basement in a London suburb, you can run but you can't hide.'