Trading at the Speed of Light av Donald MacKenzie

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<p><b>A remarkable look at how the growth, technology, and politics of high-frequency trading have altered global financial markets</b><br><br>In today¿s financial markets, trading floors on which brokers buy and sell shares face-to-face have increasingly been replaced by lightning-fast electronic systems that use algorithms to execute astounding volumes of transactions. <i>Trading at the Speed of Light </i>tells the story of this epic transformation. Donald MacKenzie shows how in the 1990s, in what were then the disreputable margins of the US financial system, a new approach to trading¿automated high-frequency trading or HFT¿began and then spread throughout the world. HFT has brought new efficiency to global trading, but has also created an unrelenting race for speed, leading to a systematic, subterranean battle among HFT algorithms.<br><br>In HFT, time is measured in nanoseconds (billionths of a second), and in a nanosecond the fastest possible signal¿light in a vacuum¿can travel onl