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CAN THE REAL SPOOFER STAND UP ?
Navindar Savao lawyer really needs to ask why his client had hundreds of thousands of orders processed by exchanges ? Perhaps he would be better off pleading guilty to certain charges of manipulation and indeed question why Market supervision dept failed to halt his orders .
Paul Rotter ; the famous Flipper ; http://www.trading-naked.com/paul_rotter.htm
were heralded by Eurex exchange as a great trader however most of his trades were illegal ; yet provided both volume liquidity and profits to the exchange . Were Navindar Sarao trades any different ? Sadly during this period the exchanges ignored all complaints and therefore allowed Paul Rotter to earn large amounts of money ;mainly at the cost of honest traders .
Therefore I am not defending Navindar Sarao but stating that the real guilty parties are the exchanges who allowed him to engage his orders and like Paul Rotter become a very successful trader ; perhaps the real target of SEC & CFTC is indeed the exchanges ; CME ; EUREX and LIFFE are all guilty of allowing these trades and when Savao is found guilty then I believe they will be next in the dock !
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