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Because a lot of discretionary traders and certainly almost all of the "bots" look at imbalances in the DOM for clues as to market direction. It's as simple as that.

Yes but the exchanges can stop it altogether or at least minimize it. That would be the best remedy.

But the author failed to mention that the CME has the power and the technology to stop the spoofing or at least diminish it's effects....but they won't do it as it will decrease the trading volume and cut into their profits. They stand to lose fee income.

His best bet is to lease/charter a G280....at only $5,000 per hour. It's quite a bargain compared to the other models. It will go 3600 miles without refueling. https://www.aircharter.com/gulfstream-jet/ But first he must lease a helicopter so that he can be picked up from the roof of his...

That's exactly what I recommend to him. This is a huge witch hunt, they are looking for a scapegoat and they are not going to quit until he's incarcerated AND gives up all his gains. He's got enough to live comfortably for the rest of his life. Good luck Nav !! Take off......now or never.

Yes.....that amount usually reserved for child molesters, drug lords, mass murderers, etc.

Why can't be make bail ? Doesn't he just have to just post 10% of the 5 million pounds ?

Of course not....the CME Group would lose money if they implemented those recommendations.

Easily preventable. In the one flash crash, the CME stopped trading for something like 5 minutes. Preventing spoofing: also easily remedied....charge for cancel orders, put a timer on orders, limit the # of cancels per hour, etc, etc. Why don't they do it is the big question.......

We'll know the exact details when the government gets him to hand over his source code which I am guessing is going to be C# or C++. That's gonna be a "biggie" in this case.

Yes, that's where the creative part came in. His genious was in the creation of the algo and the back-testing. Essentially this was a counter-trend trading system and if you have studied with other trading system experts, you'll find that for intra-day trading, these are the most profitable...

He devised an algorithm that would place huge Emini futures orders 3-4 ticks on either side of the NBBO or market price. As the orders got closer to the market (1-2 ticks), he would pull them (cancel)....and then add new orders back at the 3-4 tick level. He would do this until the market...

What's this ? April Cattle going out near all-time highs ? How does June look as a short play ?

Exactly. Notice how quiet they've been over this incident.

Omigosh, MBAGearHead was just so erratic....and he kept losing money....year after year. It was painful to follow his blog. He seems to be constantly changing his "system". Look at his 2014 equity curve - down $20k !! How can he pay his bills ...

The CME Group is so full of $hit it's not even funny. They should be investigated instead of Nav. They know damn well about all of the spoofing and yet they do not modify their order and matching engine to reduce or eliminate it ? Terrible. This is what happens when you get too big. If I were...

Ding, ding, ding....WINNER-WINNER, CHICKEN DINNER. Imagine this scenario: The CFTC goes after the CME Group and threatens to shut them down.

As someone alluded to in an earlier post, this is similar to the Julian Assange situation who exposed authorities weaknesses and they essentially retaliated. The CFTC has to move forward on this if ONLY TO SAVE FACE. If you read the article, their programmer COULD NOT FIND EVIDENCE OF THE...

I know that, and Nav's brilliance shows in the design of the Algo...the layering and large-bet placement...and timing. Everything had to be orchestrated together to make it work. Well at one point he was trading $ 9 billion notional....so that was massive manipulation. Do you think for a minute...

That remains to be seen....he had a distinct advantage with his spoofing algo and his co-lo arrangement. Let's take them away and see how he does then.