read the articles - post Flash Crash they changed the rules to explicitly bar the practice, but this case alleges that spoofing was also illegal under a different rule.
"The case is part of a crackdown by criminal and regulatory authorities on manipulative tactics used by high-speed traders, including spoofing, which was specifically outlawed in the 2010 Dodd-Frank financial overhaul law.
That law was enacted after the flash crash; the CFTC is alleging that Mr. Sarao violated the Commodities Exchange Act, which also prohibits manipulative trading. It is also alleging that he violated the anti-spoofing law for trading he engaged in beginning in 2011."
I get that. Its just quote stuffing still exists, at least according to nanex. Wouldn't that be spoofing too?
Also this guy seemed to do this from his small house, on his own in Hounslow without any significant infrastructure, with terrible cross atlantic latency. It just seems so wrong that hes charged yet anything engaging in quote stuffing is let go.
He uses a @hotmail email address. It's just so extreme how he seems out of place. Somehow he had the resources to crash the market, or even cause a small portion of the damage in huge, liquid markets? The S&P EMini is probably near the top 5 most liquid instruments on earth.
I had a single office at my last job. I'm in a shared office today. At my current job I feel much less aware of what's going on around me because I spend all my time with headphones on.
carbon monoxide is less dense than air - according to wikipedia, density at room temperature is 1.15 kg/m³ for CO vs 1.275 kg/m³ for dry air.
The nest protect retails for US$129.00 and has a service lifetime of 7 years.
I recently checked all the smoke detectors at my parents house and found that they were all well past their 10-year replace-by date. (I replaced them, but not with Nest smoke detectors).
Fun little tangent; I don't know how old my smoke detectors are, but the one by my front door gets a little test every now and again. One of my neighbors burns a fireplace on cold days. Invisible (but smellable) quantities of wood smoke pool under the rafters of my porch; the next morning, when I leave through the door, the smoke alarm always chirps for a moment! It amazed me how sensitive it is, when I first figured out what was going on.
The PDF was linked from: http://www.wsj.com/articles/u-k-man-arrested-on-charges-tied...
"The case is part of a crackdown by criminal and regulatory authorities on manipulative tactics used by high-speed traders, including spoofing, which was specifically outlawed in the 2010 Dodd-Frank financial overhaul law.
That law was enacted after the flash crash; the CFTC is alleging that Mr. Sarao violated the Commodities Exchange Act, which also prohibits manipulative trading. It is also alleging that he violated the anti-spoofing law for trading he engaged in beginning in 2011."