What can one lone trader at home achieve?

[minestrone]

One would rationally think that if the markets need legislation to protect them from such a basic con trick causing so much devastation then there is an in built problem in the way the markets are working.

Of course we could always send them over Gordon Brown, Charlie Wheelan, Ed Balls and Ed Miliband to construct an iron clad system of checks and balances in a light touch regulatory environment.

[SantaClaus]

Makes one proud to be British.

When I first read it I thought it might be the NTRT poster SantaClaus.....

It's not me, but I know who it was. The guy was a top trader at Futex.

Seriously though, big corporations are fighting to site their HFT servers as close to the exchange as possible, even building fibre optic connections in a straight line to save nanoseconds. And you're telling me that this guy "Nav" caused the crash all by himself from a rundown semi in Hounslow?

[SantaClaus]

yes and lets be honest none of the big companies ever manipulate the market to their own advantage...


oh hang on of course they f**king do.


Sorry but for me this guy was a bit dodgy and played it a bit smart

the only reason he is being pursued is because he made the big boys look stupid

shocking witch hunt imho

although obviously HMRC should be interested in where all the companies money has gone.

Exactly... another case of a game that little people are not allowed to join in.

[SantaClaus]

I was wondering if we agents could use a similar method for buying and selling contractors

You do... spoofing is exactly the same as advertising non existant contracts

[DodgyAgent]

You do... spoofing is exactly the same as advertising non existant contracts

[vetran]

You do... spoofing is exactly the same as advertising non existant contracts

so he worked for that well known agent - S£

[BrilloPad]

It's not me, but I know who it was. The guy was a top trader at Futex.

Seriously though, big corporations are fighting to site their HFT servers as close to the exchange as possible, even building fibre optic connections in a straight line to save nanoseconds. And you're telling me that this guy "Nav" caused the crash all by himself from a rundown semi in Hounslow?

I bet it was you and you blamed it on him!

[BlasterBates]

It was actually very clever, he automatically placed loads of orders which caused the algorithmic trading machines at the banks and hedge funds to automatically buy and sell.

hmm

The problem is he was the one who was placing and cancelling orders all the others were trading and actually moving the market.

So he basically took over the algorithmic trading machines with a clever trick....very smart

[Pondlife]

It's not me, but I know who it was. The guy was a top trader at Futex.

Seriously though, big corporations are fighting to site their HFT servers as close to the exchange as possible, even building fibre optic connections in a straight line to save nanoseconds. And you're telling me that this guy "Nav" caused the crash all by himself from a rundown semi in Hounslow?

This is the bit I don't get. How was able to process these transactions so quick over the connections available to a typical household? Especially if you factor the potential losses of not cancelling an order in time.

[BlasterBates]

This is the bit I don't get. How was able to process these transactions so quick over the connections available to a typical household? Especially if you factor the potential losses of not cancelling an order in time.

He was placing limit orders at different price levels, they don't get executed immediately.

very clever ......