Dark Pools : High-Speed Traders, A.I. Bandits, and the Threat to the Global Financial System
A news-breaking account of the global stock market's subterranean battles, Dark Pools portrays the rise of the "bots"- artificially intelligent systems that execute trades in milliseconds and use the cover of darkness to out-maneuver the humans who've created them.
In the beginning was Josh Levine, an idealistic programming genius who dreamed of wresting control of the market from the big exchanges that, again and again, gave the giant institutions an advantage over the little guy. Levine created a computerized trading hub named Island where small traders swapped stocks, and over time his invention morphed into a global electronic stock market that sent trillions in capital through a vast jungle of fiber-optic cables.
By then, the market that Levine had sought to fix had turned upside down, birthing secretive exchanges called dark pools and a new species of trading machines that could think, and that seemed, ominously, to be slipping the control of their human masters.
Showing 1-1 of the 1 most recent reviews
1 . second half better
Posted July 03, 2013 by Oscar , ChicagoThe second half of this book was a great explanation of how the US equity trading marketplace came to be the beast it is today. The first half is a bit light.
June 12, 2012
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