Trader Tied to Flash Crash Says He Changed His Mind a Lot
Excerpt of an email from Nav Sarao to Joanna Jasina included in the CFTC court filing.
Source: CFTC court filingThis article is for subscribers only.
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.