Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market
Scott Patterson
Jun 2012 · Sold by Crown Currency
4.4star
20 reviews
Ebook
384
Pages
family_home
Eligible
info
About this ebook
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.
Dark Pools is the fascinating story of how global markets have been hijacked by trading robots--many so self-directed that humans can't predict what they'll do next.
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.
Dark Pools is the fascinating story of how global markets have been hijacked by trading robots--many so self-directed that humans can't predict what they'll do next.
Ratings and reviews
4.4
20 reviews
Luis Espinoza
- Flag inappropriate
August 29, 2016
Makes you think twice before jumping into the market. And questions the markets if it is rigged, leaving the reader in uncertainty. The author animates and is thoroughly descriptive of the events as if you are next to Levine. Fantastic.
1 person found this review helpful
Justice Keyes
- Flag inappropriate
January 7, 2018
Enlightenment is key and this book will do just that. A must read, you will tear through it!
1 person found this review helpful
Donna Glatzel
- Flag inappropriate
June 3, 2014
Lots of insight on the rise of computerized trading, a must read,
2 people found this review helpful
About the author
SCOTT PATTERSON is a staff reporter at the Wall Street Journal, covering financial regulation from the nation's capital.
Rate this ebook
Tell us what you think.
Reading information
Smartphones and tablets
Install the Google Play Books app for Android and iPad/iPhone. It syncs automatically with your account and allows you to read online or offline wherever you are.
Laptops and computers
You can listen to audiobooks purchased on Google Play using your computer's web browser.
eReaders and other devices
To read on e-ink devices like Kobo eReaders, you'll need to download a file and transfer it to your device. Follow the detailed Help Center instructions to transfer the files to supported eReaders.
