[greenwalls]

Implementing something like Andrew Lo's encryption algorithm to avoid future flash crashes is a great idea https://www.technologyreview.com/s/512291/how-to-avoid-anoth....

It's also interesting the article refers to Sarao as frugal. If he was really frugal it seems like he would have said that X amount of money is enough and stopped risking it all. Scary stuff!

[jonwachob91]

He wasn't being frugal to be frugal, he was being frugal to maximize the amount he could invest TODAY and earn TOMORROW.

[csomar]

In my opinion, this kind of frugality happen when you have a small (or non-existant) social circle. The main reason to spend (clothes, cars, etc..) is to impress the people around you. If they don't exist, you are not that much pressured to spend.

[easytiger]

Implementing a very basic order entry check to verify each client's abuse of an orderbook like this is pretty trivial and done in a lot of places. CME just didn't want to do anything about it.