British futures trader arrested Tuesday at the request of the US authorities
Navinder Sarao, the British trader accused
of market manipulation linked to the US Flash Crash, was using
a system from US firm Trading Technologies and defunct broker
MF Global to clear his trades at the time of the crash in May
2010, according to FOW sources.
The United States court has not named them
in its case but FOW sources in London said Chicago-based
Trading Technologies was the "trading platform commonly
utilised by traders" and the now defunct MF Global was "futures
commission merchant A" cited in the papers filed against
Court papers seen by FOW said: "Prior to
June 2009, defendants used an off-the-shelf trading platform
commonly utilised by traders in the futures industry to place
E-mini S&P orders."
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