Michael Lewis did not do the securities industry any favors, at least in the short term, with the publication of his new book, Flash Boys: A Wall Street Revolt. His portrayal of how investment banks use high-frequency trading to leverage the few additional milliseconds this technology provides to grab stocks at optimal prices appears to have been a factor behind federal agency decisions to investigate this activity. The SEC, the FBI and the DoJ all have become concerned enough about the practice to look deeper.
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Speed of Technology Confounds Wall St. Regulators
Posted by: Erika Morphy April 8, 2014 06:46 AMMichael Lewis did not do the securities industry any favors, at least in the short term, with the publication of his new book, Flash Boys: A Wall Street Revolt. His portrayal of how investment banks use high-frequency trading to leverage the few additional milliseconds this technology provides to grab stocks at optimal prices appears to have been a factor behind federal agency decisions to investigate this activity. The SEC, the FBI and the DoJ all have become concerned enough about the practice to look deeper.