By Josh Beckerman
CME Group Inc,. said Wednesday that it is prohibited by law from
releasing information about any individual's trading, including the
U.K. man who was arrested this week for allegedly contributing to
the 2010 "flash crash."
The exchange operator said it concluded, along with regulators,
that the futures market wasn't to blame for the May 6, 2010, flash
crash, during which the Dow Jones Industrial Average plunged 1,000
points in a matter of minutes.
However, CME said if new information has come to light, it looks
forward to discussing it with the Commodity Futures Trading
Commission and supports the agency's actions to prosecute those who
attempt to engage in fraud.
CME's comments come a day after U.K.-based trader Navinder Singh
Sarao was arrested in connection with allegations from U.S.
authorities that he manipulated financial markets and contributed
to the flash crash.
Prosecutors and regulators said Mr. Sarao used a souped-up
version of commercially available software to manipulate a
stock-market index futures contract, laying the groundwork for the
index's decline, in which hundreds of stocks momentarily lost
nearly all their value.
Authorities said Mr. Sarao earned $40 million in profits from
2010 to 2014 through alleged manipulations.
Mr. Sarao is fighting an extradition request by U.S.
authorities.
Write to Josh Beckerman at josh.beckerman@wsj.com
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