Flash Boys: Not So Fast: An Insider’s Perspective On High-frequency Trading
In Flash Boys, Michael Lewis alleged that the entire U.S. stock market is rigged. This is an extraordinarily serious accusation. If it is true that a conspiracy of stock exchanges, banks, regulators and high-frequency traders has rigged the market, this has profound implications for every aspect of our financial system. Its rather surprising, then, that this book alleging a vast high-frequency trading conspiracy included no high-frequency traders. Flash Boys lacks a single insiders account, and it shows. Electronic trading is extremely complicated, and if you neglect to talk to any electronic traders, youre probably going to get it wrong. Flash Boys: Not So Fast, written by a former high-frequency trading executive and regulatory compliance expert, provides the missing insiders perspective on todays stock market and answers the question of whether or not Michael Lewis is right. Not So Fast reviews the alleged scams described by Lewis and applies the same rigorous analysis that real trading strategies are subjected to, methodically walking through them step by step and explaining what is actually possible in todays markets and what is not. Extensively researched and documented, Not So Fast provides a clear, accurate picture of how todays markets operate, including what works, what doesnt work, and what changes need to be made.