[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.

[noir_lord]

This describes me though I have a reasonable social circle I pretty much don't care about any of the things on your list.

I rent a flat (apartment), I only own jeans, t-shirts and pullovers, don't own a car, own second hand (but good) furniture.

I'm trying to remember the last time I spent over £50 on anything that wasn't a gift for someone else and I really can't, perhaps my weight set about 18mths ago.

I'm just not attracted to stuff or to signalling via it.

Social pressure is often largely self-inflicted.

[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.