market selloff headline

market selloff headline

Tuesday, April 1, 2014

Son of SOES Bandit is a “Flash Boy”

Michael Lewis, market critic and celebrated author of Moneyball, Liar’s Poker, and The Big Short, offered a revealing look into some of the shadowy synapses of High-Frequency Trading (“HFT”) Sunday night on 60 Minutes in support of his newest work, Flash Boys (view interview here).  His eye-opening findings and rhetoric about the algorithm-driven fiber-fed flim-flams by HFTers using technology and light to perpetrate one of the oldest scams in the market—front-running.

I co-authored a piece for the NYSBA Securities Litigation & Arbitration website on the controversial HFT practice called, “Quote Stuffing,” a Recipe for Regulation, which you can read here.