The Problem Of HFT

CalibratedConfidence's picture

No doubt the SEC will have a busy weekend ahead of them (assuming they have read Broken Markets already).  Fresh off the printers today comes a new release from Haim Bodek titled The Problem of HFT.  It is available for Kindle and there is a paper version available too.  Unlike most book releases, the price is set so that basic production costs are covered.  Haims not making bank but he is providing readers with a bank of information to revert back to in times of heated debate.  The book consists of some the writings we have found on his website.

"Modern HFT wasn't a paradigm shift because its innovations brought new efficiencies into the marketplace.  HFT was a paradigm shift because its innovations proved that anti-competitive barriers to entry could be erected in the market structure itself to preference one class of market participant above all others"

- Haim Bodek

Most of the material is published with a decent amount of unpublished material sprinkled throughout.  Topics/Papers that are included:

  1. The Problem of HFT
  2. HFT Scalping Strategies
  3. Locked Markets, Priority, and Why HFTs Have an Advantage
  4. Electronic Liquidity Strategy
  5. HFT - A Systemic Issue
  6. Reforming the National Market System
  7. NZZ Interview with Haim Bodek
  8. TradeTech Interview with Haim Bodek

For more work from Haim, check these links to the Zerohedge servers and read his story as detailed by Scott Patterson in Dark Pools:

  1. The Dark (Pool) Truth About What Really Goes On In The Stock Market - Part 1
  2. The Dark (Pool) Truth About What Really Goes On In The Stock Market - Part 2
  3. The Dark (Pool) Truth About What Really Goes On In The Stock Market - Part 3

Via Amazon:

Haim Bodek is a Managing Principal of Decimus Capital Markets, LLC, a
tactical consulting and strategic advisory firm focused on high
frequency trading and market structure. 

 

Mr. Bodek was formerly a founder and Chief Executive Officer of Trading
Machines LLC, an independent high frequency options trading firm. Prior
to TM, Mr. Bodek was a Managing Director and Joint Global Head of
Electronic Volatility Trading at UBS Investment Bank. He is an
electronic trading executive and algorithmic trading strategist with 15
years experience in the automated trading space. 
Mr.
Bodek's career, experiences, and advocacy for US stock market
regulatory reform are described extensively in Dark Pools by Scott
Patterson, freelance writer and staff reporter for The Wall Street
Journal.