U.S. charges British trader with helping cause 'Flash Crash'

April 21, 2015 6:34 PM

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Alleged market manipulation by a London-based high-frequency trader helped cause the 2010 "Flash Crash" that roiled financial exchanges in 2010, U.S. authorities said Tuesday.

Navinder Singh Sarao and his company, Nav Sarao Futures Limited PLC, used computer software in a massive effort to manipulate the Chicago Mercantile Exchange's E-mini Standard & Poor's futures contracts, according to the Commodity Futures Trading Commission and the Department of Justice.

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