Navindar Sarao returns to court on thursday 4th February accused of triggering the May 6th 2010 flash crash .
if you have time to look at above and perhaps you will realize that it was impossible for him to be guilty during this event . There were hardly any orders on the way down in the s&p's or later on the way up ; in fact any order added to liquidity and assisted
the market . The chocolate tea pot regulators in USA accuse him of causing the DOW JONES to plummet 1000 points and wipe $1Trillion off market value ! He is also charged with using an automated trading programme to "spoof" markets via large sell orders
and then canceling them and buying lower ; there is zero evidence listening to above tape . The hound of Hounslow was noted for being a bear trader and his profit of $900000 in s&p that day is far far too short had he abused the market place ....It should
read $9 million + .
Recently the regulators have become totally consumed with market abuse ; flipping ; crossing , washing ; layering , spoofing banging etc and have avoided the real time issues affecting the market place . This current market is over balanced with HFT and
ATS as their 85% share cannot be saturated by the markets and therefore producing vast volatility especially in fast markets ; however the exchanges and regulators were made very aware of this issue yet chose to ignore the blatant warnings !
The interesting point in this court case i believe will be the COMMODITY EXCHANGE ACT RULE 180.1 ...where every order placed has to have the intent to be filled . This is almost impossible to prove as futures traders can be both long and short , buyers
and sellers ; bullish and bearish in the same minute ; Navindar Sarao probably had some losing trades on May 6th ; interesting for the jury to navigate guilt ? Recently VIRTU FINANCIAL ; an HFT company ; announced that it had one ; just 1 ; losing trading
day in 6 years ; thats 2190 days ; I think I know who is abusing the market !
May 6th 2010 was almost 6 years ago yet we are still at pre court hearings WHY ? The burglars / thieves who stole £90m of jewels at Hatton Garden last year have been both caught and sentenced ! If the evidence is that clear the Hound of Hounslow
should of been stopped fined suspended and removed from the market by June 2010 . These delays do nothing to restore or provide "fair and orderly markets " .
Finally i fear for our regulators teeth as if Navindar Sarao is found not guilty added to the "libor 6 yen traders " their respect has withered and perhaps again they may need a change of name . Perhaps its just NOT WHAT YOU KNOW BUT WHO ?