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Whoever writes:

Nainder Sarao sits in jail because he cannot raise the £5M bail that is required for his release. He has apparently made millions while living in his parents' basement, but doesn't have access to the money because his accounts have been frozen. What is claimed by US authorities is that "... Mr Sarao placed "spoof" trades in E-Mini S&P derivatives in a bid to push the market in his favour. The orders would be placed and withdrawn in rapid succession using a customised computer programme, they allege", which sounds a lot like high-frequency trading. Perhaps his real crime was to copy the techniques of wealthy high-speed traders?

1. "Whoever" - https://soylentnews.org/~Whoever/
2. " sits in jail because he cannot raise the £5M bail that is required for his release" - http://www.telegraph.co.uk/finance/financial-crime/11616605/Flight-risk-flash-crash-trader-to-remain-in-jail-after-losing-bail-appeal.html
3. " made millions while living in his parents' basement" - http://www.telegraph.co.uk/finance/financial-crime/11553433/British-trader-Nav-Sarao-charged-with-triggering-global-markets-flash-crash-in-2010.html

printed from SoylentNews, UK Citizen in Jail for Causing "Flash-Crash", or Just High-Frequency Trading? on 2023-06-14 02:33:25