Flash Boys
by Michael Lewis
High-frequency trading explained through Brad Katsuyama's discovery that the market was rigged by milliseconds, and his attempt to build a fair exchange. Controversial among traders; clear and infuriating for everyone else.
Read it if…
you want to know what happens in the microseconds between your order and its fill.
See the book →
Skip it if…
you want investment advice; it is reporting.
Try instead: Boomerang →
Three things you will actually use
- Speed is a product; someone is selling it.
- Complexity hides who is paying.
- Build the fair version if nobody else will.
Do this first
Read the chapter on the fibre-optic line to Chicago.
Our verdict
Milliseconds, rigged.
See the book →
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