FTT—Financial Transaction Tax or Flash Boys Transaction Tax?

April 11, 2014

Currently, at the top of the New York Times bestseller list in non-fiction is Michael Lewis’ Flashboys; a detailed look at how the high-frequency computerized trading of stocks allowed sophisticated programmers to beat top institutional investors to trades and pocket millions.  Lewis tells the story as a detective story, with a Royal Bank of Canada trader Brad Katsuyama as its protagonist, uncovering why his trades got delayed.  While many reviews have focused on the need to better regulate the stock market to insure its fairness, less attention has been paid to a big reveal of the book.

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