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
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. Download and start listening now!