The trader thought to have cost one of France's biggest banks 4.9bn euros ($7.1bn; £3.7bn) is in police custody.
Jerome Kerviel is being held for questioning about the alleged fraud at the French bank, Societe Generale.
The 31-year-old trader had not been seen since the financial scandal broke on Thursday. His family and lawyer have insisted he is innocent.
On Friday police searched Mr Kerviel's flat in an upmarket Paris district taking away a number of briefcases.
Police also visited the headquarters of Societe Generale, where they were given documents and computer disks relating to the alleged fraud.
Mr Kerviel arrived at the headquarters of the financial police on Saturday at 1400 (1300 GMT) for questioning.
Correspondents say the police never launched a manhunt for the trader and it is likely they knew all along how to find him.
Mr Kerviel may be held for 24 hours without charge, with a possible extension if granted by a judge.
http://news.bbc.co.uk/2/hi/europe/7210889.stm
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