UK trader arrested for May 2010 U.S. Stock market flash crash

[just21]

Whistleblower may get 4 to 12m$...I am speechless. This academic wouldn't have made a dime in the markets, now he is entitled to 30% of Sarao's profits...

Eric Scott Hunsader at Nanex llc could make a fortune as a whitsleblower!

 

[Cdntrader]

Nanex is the new regulator of the markets. Someone actually watching the nitty gritty. One really has to wonder what the folks at the SEC and CFTC do all day.

 

[OddTrader]

Just found this:
http://seekingalpha.com/article/1939011-why-we-are-not-ok-and-not-on-a-sustainable-trajectory

 

[kinggyppo]

interesting to note the following links between large HFT firms and CME

Virtu Trading Director John Sandner is board member and ex chairman of CME

http://ir.virtu.com/directors.cfm
http://investor.cmegroup.com/investor-relations/directors.cfm

Jump Trading - William Shephard CME board member owns a stake in Jump Trading.

http://www.bloomberg.com/news/artic...dy-about-this-story-on-hft-power-jump-trading
http://investor.cmegroup.com/investor-relations/directors.cfm

Citadel - worked on joint venture with CME for central clearing house for CDS.

http://www.chicagobusiness.com/article/20081129/ISSUE01/100031032/griffin-cme-ready-for-swaps

Hudson River Trading - Adam Nunes business development is VP of U.S. options at Nasdaq OMX with responsibility for both the Nasdaq Options Market and Nasdaq OMX PHLX

http://www.wallstreetandtech.com/tr...anges-and-bulge-bracket-firms/d/d-id/1262538?

Its nice to see some people putting some decent content, its an interesting debate. Of course there is lots of crossover, Chicago is that kind of town. That class action is very well written not sure if anything will come of it though. Re the flash crash the big SP's were 1060 x 1070 at one point, real numbers. It would be interesting to get a local's take on that day.

 

[Ditch]

http://in.reuters.com/article/2015/04/22/flashcrash-trader-whitsleblower-idINKBN0ND2LG20150422

This guy is toast. I feel for him. CFTC is looking for 120 m$ and DOJ another 80 m$. What an absurd world...

So how do they think to collect the 120mio from Nav? Sell his organs to the highest bidder? The media are as usual just parroting the spin they are fed instead of doing some proper research and exposing the core of the rot.

 

[Tsing Tao]

CME releases video of trader Sarao during May 6th flashcrash...

 

[i am nobody]

 

[Pekelo]

In the 90's: Michaels Milken pleaded guilty to six counts of conspiracy and fraud

http://www.mikemilken.com/ThreeFelonies.pdf

 

[londonkid]

thanks for posting. a good watch.

 

[i960]

160M$.

Meanwhile:

Washington D.C., Jan. 12, 2015 —

The Securities and Exchange Commission today announced that two exchanges formerly owned by Direct Edge Holdings and since acquired by BATS Global Markets have agreed to pay a $14 million penalty to settle charges that their rules failed to accurately describe the order types being used on the exchanges. The penalty is the SEC’s largest against a national securities exchange, and the case is the SEC’s first principally focusing on stock exchange order types.

http://www.sec.gov/news/pressrelease/2015-2.html

14 friggin' million.