Fast trading transforms Wall Street
This piece in the NY Times today by Julie Creswell covers exactly the subject at the heart of my two thrillers, Dead Bankers and Ghosts. We think we know what is going on in the financial markets because we can track the public exchanges, but so much now goes on out of sight we know far less than we think. The causes of price movements are more of a mystery than ever. This opens up enormous possibilities for anyone wanting to game the system.