He was an excellent trader from what I understand. The spoofing was just a side-hobby.....and his programming specifications were just so well done....he nailed it with the "layering" technique. It was so easy to trade with the spoofing algo active.....much easier than trading without. All in all, the CME Group should come out of this with egg on their face....they could have stopped the spoofing programatically...but didn't.
He might have travelled back and forth, not sure, but he was allowed to go back to the UK a couple of years ago already
Zerohedge think Nav served three years in prison. https://www.zerohedge.com/news/2019...-built-flash-crash-trader-software-goes-trial https://www.bloomberg.com/news/arti...nds-no-jail-time-for-flash-crash-trader-sarao
Well spotted, seeing who is paying attention! This one does https://www.zerohedge.com/markets/f...-no-jail-time-flash-crash-scapegoat-nat-sarao
He didn't lose the edge....he just wanted it to be easier to trade....and he figured out a way to do just that. It was brilliant really.....but went against exchange "rules". He was warned once or twice, but ignored them. Let's hope he gets a suspended sentence on Jan 28th.....only 2 weeks away. I'd love to see him write a book about the whole ordeal. Title: "Conquering the Financial Futures Market....How I did it"
He originally was part of a firm and worked with a group of traders prior to developing his illegal plan to spoof the markets. Oddly, he was already a profitable trader prior to that plan to spoof the markets. Also, there are blogs by people with autism although I don't know of any traders with autism that started a blog. wrbtrader