Flashboys: Michael Lewis on ‘high’ finance & high-frequency trading

41rC-xFW03LMichael Lewis’ new book on how the market is rigged is making a lot of waves. Certainly worth the read. Here is a short video and the description of the book.

Flash Boys is about a small group of Wall Street guys who figure out that the U.S. stock market has been rigged for the benefit of insiders and that, post-financial crisis, the markets have become not more free but less, and more controlled by the big Wall Street banks. Working at different firms, they come to this realization separately; but after they discover one another, the flash boys band together and set out to reform the financial markets. This they do by creating an exchange in which high-frequency trading—source of the most intractable problems—will have no advantage whatsoever.”