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From the Publisher
If you want to understand how computerized trading is impacting our markets, this book is for you.
— Charles D. Ellis, Author, The Partnership: The Making of Goldman Sachs
The interplay between algorithmically driven and traditional trading strategies affects the returns of all investors. Brian Brown's new book provides a very clear overview of how these new strategies work and more importantly, how they influence liquidity, volatility, and prices in the global equity market.
— Andrew J. Morton, Co-creator of the Heath-Jarrow-Morton (HJM) Framework
Technology advances over the past decade have dramatically changed the dynamic world of stock market trading. Most analysts have failed to account for this "brave new world" in their "Monday morning quarterback" analysis of the recent worldwide financial systems collapse. Brian Brown has written the first book that clearly and colorfully describes the new technologically-driven way of doing business on the Street, and he does this with great precision and street knowledge. This new world played a central role in the Wall Street collapse, and, paradoxically, will help drive the next ascent.
— Thomas F. Coleman, Dean and Professor, Faculty of Mathematics Director, Waterloo Research Institute in Insurance, Securities, and Quantitative Finance, University of Waterloo
Much has been made of the activities of "High Frequency Traders" during the Global Financial Crisis. In many cases they have been vilified, but often out of ignorance about the vital function that they perform in today's hyper-speed financial markets. Brian sets out to demystify High Frequency Trading and does so in an eminently readable fashion. This book will appeal to anyone, market professional or not, who wants to understand this often secretive group.
— E. John Fildes, Chief Operating Officer, Asia, Instinet Pacific