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Keyword: navindersinghsarao

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  • Flash Crash trader: 'I did nothing wrong'

    05/07/2015 1:36:40 AM PDT · by WhiskeyX · 8 replies
    BBC ^ | 6 May 2015 | BBC
    A UK trader accused of contributing to the 2010 Wall Street "flash crash" has protested his innocence in court, saying he did not "do anything wrong". Navinder Singh Sarao, 36, has been charged with wire fraud, commodities fraud and market manipulation by the US Justice Department (DOJ). Mr Sarao denies the charges but was remanded in custody for the third time after failing to raise £5.05m in bail. His lawyers' request that bail be lowered to £50,000 was refused.
  • Feds trace flash crash to Chicago

    05/07/2010 6:02:41 PM PDT · by Nachum · 81 replies · 2,504+ views
    politico ^ | 5/7/10 | EAMON JAVERS
    Federal investigators probing the “flash crash” that briefly sliced nearly 1,000 points off the Dow Thursday are zeroing in on a series of “unusually high-volume” trades in S&P futures that originated in Chicago, a government official told POLITICO. Those trades set off a chain reaction of trades that caused the biggest drop within a single day in the Dow Jones Industrial Average’s storied history.