Good discussion on the many ways in which high frequency trading firms collude with brokers, exchanges and data services to “queer the market casino in their favour”. And no, its not just in the US stock markets…we see daily evidence of rigging and scamming in most markets in the world today as unethical actors hide behind computers and speed largely imperceptible to the human eye.
Brad Katsuyama never aspired to be on Wall St. but ended up as a Wall St. trader for RBC. Disturbed by the undeclared advantages of high-frequency trading, he refused to join in the secrecy and has now become a revolutionary in the world of high finance. Micheal Lewis shares Brad Katsuyama’s excellent adventure and what should be done to undo the rigged market. Here is a direct audio link
And here was Brad Katsuyama in his own words on CBC last week. Here is a direct video link.