Flash Boys

Michael Lewis

Brad Katsuyama’s journey began in 2007 when he uncovered a troubling issue in the stock market: high-frequency trading (HFT) firms were exploiting electronic orders through a practice called front-running, causing prices to shift before trades could be completed. To combat this, Katsuyama developed "Thor," a tool that synchronized order delivery across exchanges, but he soon realized the problem was systemic, fueled by opaque practices like "dark pools" and incentives benefiting HFT firms at the expense of investors. Determined to address these injustices, Katsuyama launched an educational campaign to expose the flaws in the market and ultimately created the Investor's Exchange (IEX) in 2013, a transparent stock market designed to protect investors. Despite significant challenges, including resistance from entrenched financial institutions, Katsuyama’s efforts gained momentum, especially after Goldman Sachs, influenced by lessons from the 2008 financial crisis, placed a major order with IEX. This pivotal moment validated IEX’s mission, marking a critical step toward reforming a broken financial system.

4 min

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De quoi s'agit-il ?

Brad Katsuyama’s story delves into the hidden mechanics of the stock market, exposing how high-frequency trading firms exploited technological loopholes to gain unfair advantages. Set against the backdrop of Wall Street’s opaque systems, it explores Katsuyama’s journey from uncovering these predatory practices to creating a groundbreaking solution in the form of a transparent stock exchange. This narrative combines financial intrigue, technological innovation, and a fight for fairness, offering a compelling look at one man’s mission to reform a deeply flawed system.

Résumé du livre

Michael Lewis is an investigative journalist and author who has published fifteen nonfiction books, eight of which were national best sellers in the United States. In 2011, Lewis’s book Moneyball was turned into a major film starring Brad Pitt and Philip Seymour Hoffman.

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Disrupting Wall Street: Brad Katsuyama’s Fight for Fair Markets

Revolutionizing Wall Street: Brad Katsuyama's Fight for Fairness

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