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The USA thinks one guy working home was responsible for crashing the world's largest stockmarket.
We will do everything in our power to pursue those who attempt to engage in fraud or manipulation in our markets (As long as they aren't US investment banks obviously)
https://uk.finance.yahoo.com/news/uk-trader-accused-flash-crash-111523524.html
Wait until islamists find out its this easy - the Dow will be flash crashing every hour.
We will do everything in our power to pursue those who attempt to engage in fraud or manipulation in our markets (As long as they aren't US investment banks obviously)
https://uk.finance.yahoo.com/news/uk-trader-accused-flash-crash-111523524.html
Wait until islamists find out its this easy - the Dow will be flash crashing every hour.
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So they designed a system that reacts to huge orders being placed that can then be cancelled
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sounds clever.
but then thats what you get for cutting corners. when in vegas i didnt need to chip n pin or swipe my currency card in a shop....much higher possibility of fraud if some one gets mugged of their cards....but hey ho if it saves time then fk fraud....rant over. |
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The Michael Lewis book "Flash Boys" is a decent read.
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martin lewis bro ?
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Be careful when googling flash boys
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http://www.telegraph.co.uk/finance/financial-crime
/11558768/Flash-crash-trader-Navinder-Singh-Sarao -is-a-hero-says-fund-manager.html Seems like the US DoJ is FoS as per. |
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What I find strange about this is I'd have assumed anyone putting up a large bid/offer or whatever would have to have the cash or shares behind it to back it, otherwise it's a bit .. insane.
And I doubt this man had the amount to move these vast markets that much, it doesn't make sense? |
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I also think spoofing is impossible to prove. If a price is say $10 and you set up a sell trade of $10.50 and a buy of $9.50 you can argue that the purpose of these is to provide liquidity to someone who wants to buy or sell a large volume, but if the price gradually moves towards your orders, you would want to cancel them as your large spread has now gone.
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