Un trader haute fréquence arrêté,responsable du flash crash

article bfm buisiness

Ils ont rien compris, c'est ce qu'on appel animer le marcher.

Ils on trouvé leur -, le pauvre; il n'est pas pire qu'un bot (les robots s'amusent à cela toute la journée, et eux ne peuvent êtres condamnés)

pfffff un piston qui saute, au suivant

oui il fallait une tête... et si on parlait des liquidity providers ce jour là ? Tabou ?

C'est une "class action" des trades sur CO.

Encore un fusible qui saute... :roll:

C'est une "class action" des trades sur CO.

Encore un fusible qui saute... :roll:

Ou plutôt des hedge fund HFT du genre Virtu capital

Why Nav Sarao Had To Be Destroyed: He Found A Way To Beat The HFTs At Their Own Game

Now that the confusion and the initial smoke following the stunning CFTC/DOJ/FBI allegation that the entire Flash Crash was the result of just one high latency UK trader's actions has cleared, several critical things have emerged.

First: Nav Sarao not a typical massively funded, connected and lobby-protected High Frequency Trader, such as Citadel or Virtu, using countless algos across numerous fragmented markets to frontrun size order blocks, but an old-school "point and click" prop trader. This is how he described his trading style in a response to the UK regulator:

I am an old school point and click prop trader. To this day I am still using the mouse to trade. That is how I trade, that is how I always have traded, admittedly very very fast because I have always been good with reflexes and doing things quick. My trading is for the most part very short term and for very small profits, a large proportion of my profits are 1 price movements, which in the eminiSP's case would be a quarter of a tick. I have also take longer term positions In the past and my biggest day was actually made for the most part whilst I was sleeping!

I am a trader who changes his mind very very quickly, one second I am prepared to buy the limit of 2,000, the next second I may change my mind and get out. This is what is unique about my trading I trade very large but change my mind in a second. This is why MF Global had to speed up their systems for me, yes they have other hedge funds etc trading 2,000 lots, but they didn't have anyone buying 2,000 and getting out seconds later and then going short a thousand ! All this traded volume was something that MF Global's system was not prepared for and I remember at the start their system was too slow for me. And all this is done with the my hand and a mouse.

What makes me change my mind? Well it could be anything, a move in one of the other markets that I look at, a chart set up that I suddenly remember from my 11 years of trading, or simply the WAY I was filled made me doubt my position, or for the large part it is just my INTUITION.

In other words, precisely what we have claimed from day 1: HFTs do not provide any liquidity at all - they merely look for size orders and immediately seek to frontrun them, in the process actually soaking up market liquidity .

And while the world wonders how it is that Virtu can have 6 years of trading with just one trading day loss, Sarao not only figured out how to outmanipulate the manipulators, but how to profit from it.

L'article en entier, très intéressant : http://www.zerohedge.com/news/2015-04-24/why-nav-sarao-had-be-destroyed-he-found-way-beat-hfts-their-own-game

This chart exonerates Sarao for causing the flash crash (did he contribute? MAYBE. Cause it? NO) pic.twitter.com/OPdLtgieSe
- Eric Scott Hunsader (@nanexllc) April 24, 2015

CDX1Yp8XIAAHv3k.png (95.23 Kio) Vu 1191 fois

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wow on est gâté ce dimanche!