Katsuyama’s Stock Exchange A Rallying Point For HFT Outrage

Mark Melin

Published onMarch 31, 2014

Updated on May 13, 2021

Is Brad Katsuyama, the “conformist” trader who exposed the previously secret behavior of high frequency traders (HFT) featured in Michael Lewis’s new book Flash Boys, about to disrupt the stock exchange business model?

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New stock exchange established that “sells trust”

This past fall, Katsuyama established a new stock exchange, IEX, based on a novel concept. “We're selling trust,” he said in a 60 Minutes interview. “To think that trust is actually a differentiator in a service business, it's kind of a crazy thought, right?”

The genesis for this “radical” idea – an exchange that differentiates itself...

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Mark Melin

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

Katsuyama’s Stock Exchange A Rallying Point For HFT Outrage

New stock exchange established that “sells trust”

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