24 November 2017
Neil Crammond

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Neil Crammond - trader

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Exchanges integrity need questioning

10 May 2015  |  5764 views  |  0

CAN THE REAL SPOOFER STAND UP ?

Navindar Savao  lawyer really needs to ask why his client had hundreds of thousands of orders processed by exchanges ?  Perhaps he would be better off pleading guilty to certain charges of manipulation and indeed question why Market supervision dept failed to halt his orders . 

Paul Rotter ; the famous Flipper ;  http://www.trading-naked.com/paul_rotter.htm   

were heralded by Eurex exchange as a great trader however most of his trades were  illegal ; yet provided both volume liquidity and profits to the exchange . Were Navindar Sarao trades any different ?  Sadly during this period the exchanges ignored all complaints and therefore allowed Paul Rotter to earn large amounts of money ;mainly at the cost of honest traders .  

 Therefore I am not defending Navindar Sarao but stating that the real guilty parties are the exchanges who allowed him to engage his orders and like Paul Rotter become a very successful trader ; perhaps the real target of SEC & CFTC is indeed the exchanges ; CME ; EUREX and LIFFE  are all guilty of allowing these trades and when Savao is found guilty then I believe they will be next in the dock !

 

TagsTrade executionRisk & regulation

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