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Dark Pools: The Rise of the Machine Traders by Scott Patterson
Dark Pools: The Rise of the Machine Traders by Scott Patterson
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Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market
by Scott Patterson
"A news-breaking account of the global stock market's subterranean battles and the rise of the artificial intelligence that rules it."
📈 FINANCIAL HISTORY | TECHNOLOGY | INVESTIGATIVE JOURNALISM
An eye-opening investigation into the secretive exchanges and high-frequency trading bots that have hijacked global financial markets.
Extended Synopsis
In the beginning, there was Josh Levine, an idealistic programming genius who dreamed of wresting control of the stock market from giant institutions to give the little guy a fair advantage. Levine created a computerized trading hub named Island where small traders could swap stocks. However, over time, his invention morphed into a global electronic stock market, sending trillions in capital through a vast jungle of fiber-optic cables.
By then, the very market Levine sought to fix had turned upside down. This evolution birthed secretive exchanges known as "dark pools" and a new species of trading machines. Dark Pools exposes how these artificially intelligent systems execute trades in milliseconds, using the cover of darkness to outmaneuver their human creators. Scott Patterson delivers a fascinating, chilling story of how global markets have been hijacked by trading robots so self-directed that even their masters can no longer predict their next move.
About the Author
Scott Patterson is an esteemed financial journalist and author known for his deep dives into the complex intersections of Wall Street and advanced technology. His investigative work demystifies the opaque mechanics of modern finance, shedding light on the quantitative analysts and automated systems that dictate the flow of global wealth.
Reader Targeting & Academic Utility
- Finance & Economics Students: Essential reading for understanding the mechanics of high-frequency trading (HFT) and market microstructure.
- Tech & AI Enthusiasts: A real-world case study on the unintended consequences of artificial intelligence and algorithmic autonomy.
- Retail Investors: Provides critical insight into the hidden forces that drive market volatility and shape modern trading environments.
Technical Specifications
| ISBN-13 | 9780307887184 |
| ISBN-10 | 0307887189 |
| Format | Paperback |
| Language | English |
| Publisher | Crown Books |
| Publication Date | June 25, 2013 |
| Subjects | Finance & Investing |
Accolades & Features
- A groundbreaking exposé on the evolution of global electronic stock markets.
- Detailed exploration of "Island" and the pioneers of computerized trading.
- "A required syllabus addition for anyone wanting to understand the invisible machines currently running Wall Street." — Bust Down Books Editorial Review
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