Flash crash Waddell Algo

The 2010 Flash Crash: Call Me Old-Fashioned…

The 2010 Flash Crash: Call Me Old-Fashioned... by Mathew Harrison, Burgundy Asset Management
Navinder Singh Sarao, a U.K. high-frequency trader, was arrested recently for using market manipulation to destabilize the market causing the May 6, 2010 Flash Crash where, among other markets, the Dow Jones Industrial Average lost 9% within minutes only to recover shortly thereafter. On that afternoon, Mr. Sarao placed thousands of trades that he had no intention of executing. By placing the trades and later cancelling them, he was . . .

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