Flash Crash trader said he changed his mind a lot

Shiny Brain ArtM Sxc Hu

A self-described insomniac, Navinder Singh Sarao railed against high-speed traders for corrupting financial markets and defended his own rapid-fire success as the benefit of a quick mind.

'I trade very large, but change my mind in a second', wrote Sarao in a May 2014 e-mail to the U.K. Financial Conduct Authority before he was accused this week in the U.S. of contributing to the 2010 flash crash.

Bloomberg News reports that these new details, gleaned from pages of e-mails and documents released by U.S. authorities as part of their case against him, are at odds with the public profile that has so far emerged of the 36-year-old Londoner.

He worked out of sight, sometimes from his parents’ suburban home, before his arrest this week and was described by one fellow trader as distant.

The Sarao revealed in court records is a squeaky wheel, well known to his brokers and software providers, who he harassed for not enabling him to trade as fast as he wanted. 

To access the complete Bloomberg News article hit the link below:

Trader Tied to Flash Crash Says He Changed His Mind a Lot

Deutsche Bank: Why The Fed Can't Ignore Treasury Market Illiquidity

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News