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April 2, 2014

High-Frequency Trading Book Riles Tempers on CNBC

“The new book by Michael Lewis has inflamed passions across Wall Street, stoking a debate over the business of high-frequency trading.”

“On Tuesday, it also made for some explosive TV.”

“During an otherwise quiet day for the market, Mr. Lewis, along with the star of his book, Brad Katsuyama, appeared on CNBC to face off against William O’Brien, the president of the BATS Global Markets exchange, who was clearly enraged at the book’s argument that the stock market is rigged in favor of high-speed traders. Mr. Katsuyama, who runs an upstart trading platform called IEX, which tries to stop certain aspects of speedy trading, is portrayed in the book as the hero.”

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Read full New York Times article here.

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