CME Says Prohibited From Releasing Info About Any Individual's Trading

CME Group Inc. said Wednesday that it concluded, along with regulators, in the aftermath of the May 2010 "flash crash" that the 1,000-point swing in the Dow Jones Industrial Average wasn't caused by the futures market.

However, the exchange operator 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.

The exchange operator'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 a dramatic, swift fall in the Dow Jones Industrial Average on May 6, 2010, that came to be known as the flash crash.

The Justice Department complaint said Mr. Sarao engaged in conduct that contributed to "an extreme order book imbalance" in the E-mini S&P market. Mr. Sarao placed orders representing approximately $170 million to more than $200 million of "persistent downward pressure" on the price.

CME said it is prohibited by law from releasing information about any individual's trading behavior, including Mr. Sarao's, and is unable to comment further at this time.

Write to Josh Beckerman at [e-mail]

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