Michael Lewis' Flash Boys

[Cowboy Brian]

http://www.amazon.com/Flash-Boys-Wa...TF8&qid=1396323300&sr=8-1&keywords=flash+boys


Anyone pick this up yet? I'm still reading Kevin Roose's Young Money but will be picking up Flash Boys once I wrap it up. Have been hearing a crazy amount of good things.

 

[morasp]

A very good story on 60 minutes about it. Basically the HFTs have a pipeline to the exchanges that allow them to front trades which is supposed to be illegal. A young investment manager sniffed it out and started a new exchange called IEX. IEX has a big spool of fiber optic cable that delays the HFTs bids to get there at the same time as everyone else.