Photographer: Erik T Witsoe/Getty Images/Flickr RF

Oystacher Says Speed Chess, Not Spoofing, Is Behind His Trades

By
Matthew Leising
  • Speed chess player has very fast reflexes, court filing says
  • U.S. seeks to bar Oystacher from market while case proceeds

Igor Oystacher, the co-founder of 3Red Trading LLC accused of manipulating markets by rapidly placing trades he never intended to execute, has exceptional reasoning skills -- in the 99th percentile -- that gave him the capacity to quickly follow through on orders, his lawyers said.

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