Let’s talk about the challenges for disrupting conservative markets – such as Wall Street – with technology.
This is not about Wall Street itself (and its confusing procedures, dark pools and trading ‘gymnastics’). Here I am much more interest on the forgotten tangible aspect of technology, how developers and algorithms are exploring markets gaps, and ultimately about the challenge of disrupting establish markets with huge players and barriers.
This is based on Flash Boys, a non-fiction book about what was happening on the backstage of Wall Street after
2009. It follows the efforts of a group of traders to understand how the technology and gaps within SEC rules were shaping the unfair advantage of high frequency traders. Their answer was to create a new model of stock exchange – dubbed as “A market that works for investors”. (more…)