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Dark Pools

The Rise of the Machine Traders and the Rigging of the U.S. Stock Market

Scott Patterson

This book is available for download with iBooks on your Mac or iOS device, and with iTunes on your computer. Books can be read with iBooks on your Mac or iOS device.

Description

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.

Customer Reviews

Awesome

Great book. A real eye opener. Technological evolution as seen by someone with a front row seat. A fascinating peek also into the possible future of it all. The stock market was rigged 50 years ago and it is still rigged but in a different way. But one can still make money. Just make sure we all go short the markets the next four years.

Very good book

I highly recommend this book. Very informative and a topic that everyone should be concerned with. My only gripe is a personal preference - wish there was only one time line rather than going back in time to give history of each subject or person. Everyone should read this book, especially our elected representatives.

COO

Excellent read. Highly recommend!

Dark Pools
View In iTunes
  • $11.99
  • Available on iPhone, iPad, iPod touch, and Mac.
  • Category: Business & Personal Finance
  • Published: Jun 12, 2012
  • Publisher: The Crown Publishing Group
  • Seller: Random House, LLC
  • Print Length: 384 Pages
  • Language: English
  • Requirements: To view this book, you must have an iOS device with iBooks 1.3.1 or later and iOS 4.3.3 or later, or a Mac with iBooks 1.0 or later and OS X 10.9 or later.

Customer Ratings

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