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

Dark Pools is an alarming account.”--Canadian Business“Dark Pools is a must read for all serious investors.  Patterson’s methodically researchedbook exposes the core problems in today’s securities market…His findings should serve as a blueprint for the SEC.”--Blair Hull, founder of Hull Trading and Ketchum Trading From the Hardcover edition.. "Far more comprehensive and persuasive than even Michael Lewis' Flashboys." --James Stewart, New York Times Book Review "An excellent history of the early electronic traders" - Michael Lewis“Scott Patterson’s Dark Pools is about the most important financial issue no one talks about—how high

Read after Flash Boys I read Michael Lewis's Flash Boys first. Flash Boys was one of the few non-fiction books that read like a fictional techno action story. Which is probably part of the reason it has received so much attention. Flash Boys left me wanting moremore details about h. Dennis Noren said Excellent Assessment of what HFT has become.. Although I am no expert in the stock market and the Wall Street environment, I have read quite a bit, and appreciate clear and fair assessments of what has happened and is happening. Scott Patterson seems to have provided an excellent, detailed description of . Ian K. said An excellent book on the evolution of the electronic trading networks and high frequency trading. High frequency trading has been in the financial press a fair amount in the last few years. There was the May 6, "An excellent book on the evolution of the electronic trading networks and high frequency trading" according to Ian K.. High frequency trading has been in the financial press a fair amount in the last few years. There was the May 6, 2010 "flash crash" and the demise of Knight Capital as a result of a software error (were Knight lost $An excellent book on the evolution of the electronic trading networks and high frequency trading Ian K. High frequency trading has been in the financial press a fair amount in the last few years. There was the May 6, 2010 "flash crash" and the demise of Knight Capital as a result of a software error (were Knight lost $440 million in 40 minutes). Scott Patterson'. An excellent book on the evolution of the electronic trading networks and high frequency trading Ian K. High frequency trading has been in the financial press a fair amount in the last few years. There was the May 6, 2010 "flash crash" and the demise of Knight Capital as a result of a software error (were Knight lost $440 million in 40 minutes). Scott Patterson'. 0 million in An excellent book on the evolution of the electronic trading networks and high frequency trading Ian K. High frequency trading has been in the financial press a fair amount in the last few years. There was the May 6, 2010 "flash crash" and the demise of Knight Capital as a result of a software error (were Knight lost $440 million in 40 minutes). Scott Patterson'. 0 minutes). Scott Patterson'. 010 "flash crash" and the demise of Knight Capital as a result of a software error (were Knight lost $An excellent book on the evolution of the electronic trading networks and high frequency trading Ian K. High frequency trading has been in the financial press a fair amount in the last few years. There was the May 6, 2010 "flash crash" and the demise of Knight Capital as a result of a software error (were Knight lost $440 million in 40 minutes). Scott Patterson'. An excellent book on the evolution of the electronic trading networks and high frequency trading Ian K. High frequency trading has been in the financial press a fair amount in the last few years. There was the May 6, 2010 "flash crash" and the demise of Knight Capital as a result of a software error (were Knight lost $440 million in 40 minutes). Scott Patterson'. 0 million in An excellent book on the evolution of the electronic trading networks and high frequency trading Ian K. High frequency trading has been in the financial press a fair amount in the last few years. There was the May 6, 2010 "flash crash" and the demise of Knight Capital as a result of a software error (were Knight lost $440 million in 40 minutes). Scott Patterson'. 0 minutes). Scott Patterson'

SCOTT PATTERSON is a staff reporter at the Wall Street Journal, covering financial regulation from the nation's capital.

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.. 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. 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