![]() ![]() The difference in cost can be counted in fractions of a penny – but on massive orders the numbers add up and the losers are the pension funds of millions of Americans. Moments after an order was placed, high-speed traders (our titular Flash Boys) were snapping up shares before the order could be fulfilled, using powerful algorithms and super-charged computers to force buyers to pay a higher price. Katsuyama noticed that large stock orders were being “scalped”. “It was louder than anything I had experienced.” But even he was taken aback by the speed with which the FBI, Justice Department and others moved to comment on the situation. “I knew this was a bombshell,” Lewis said. The paperback has just been released along with an update from Lewis detailing just how enraged Wall Street remains. The book struck gold – Lewis has sold more than half a million copies in the US alone. Flash Boys tells the tale of a Canadian financial services executive, Brad Katsuyama, who spotted a gigantic ripoff in the financial markets and set up a company he hoped would end it. ![]()
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