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posted by martyb on Sunday October 16 2016, @12:53PM   Printer-friendly
from the where-were-the-air-bags? dept.

Navinder Sarao has lost his appeal and is set to be extradited to the USA, where he faces charges with a possible maximum sentence of 380 years. He is accused of causing the "flash crash" in 2010, when the Dow Jones index dropped by 1000 points. He ran his trading from his bedroom in his parents' house and it is claimed that he made more than £30M (approximately $40M) in 5 years. His parents had no idea what he was doing, nor the scale of his income. He is accused of placing trades that he never intended to fill, so, to this naive person, it's hard to distinguish what he did from that of the large high-speed trading firms.


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  • (Score: 0, Troll) by Anonymous Coward on Sunday October 16 2016, @03:04PM

    by Anonymous Coward on Sunday October 16 2016, @03:04PM (#414866)

    No. Such arbitrary restrictions would actually be very bad for trading and are usually only supported by those who don't understand investing.

    High frequency trading is great for liquidity. It has absolutely no detrimental effect on mom & pop investors who simply buy a stock and go to sleep for 30 years, and the increased liquidity helps mom & pop exit the trade with maximum value and minimum stress.

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