Hardcover. Condition: new. Hardcover. A remarkable look at how the growth, technology, and politics of high-frequency trading have altered global financial markets In today's financial markets, trading floors on which brokers buy and sell shares face-to-face have increasingly been replaced by lightning-fast electronic systems that use algorithms to execute astounding volumes of transactions. Trading at the Speed of Light tells the story of this epic transformation. Donald MacKenzie shows how in the 1990s, in what were then the disreputable margins of the US financial system, a new approach to trading-automated high-frequency trading or HFT-began and then spread throughout the world. HFT has brought new efficiency to global trading, but has also created an unrelenting race for speed, leading to a systematic, subterranean battle among HFT algorithms. In HFT, time is measured in nanoseconds (billionths of a second), and in a nanosecond the fastest possible signal-light in a vacuum-can travel only thirty centimetres, or roughly a foot. That makes HFT exquisitely sensitive to the length and transmission capacity of the cables connecting computer servers to the exchanges' systems and to the location of the microwave towers that carry signals between computer data centres. Drawing from more than 300 interviews with high-frequency traders, the people who supply them with technological and communication capabilities, exchange staff, regulators, and many others, MacKenzie reveals the extraordinary efforts expended to speed up every aspect of trading. He looks at how in some markets big banks have fought off the challenge from HFT firms, and how exchanges sometimes engineer technical systems to favour certain types of algorithms over others. Focusing on the material, political, and economic characteristics of high-frequency trading, Trading at the Speed of Light offers a unique glimpse into its influence on global finance and where it could lead us in the future. A remarkable look at how the growth, technology, and politics of high-frequency trading have altered global financial markets Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780691211381

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Trading at the Speed of Light : How Ultrafast Algorithms Are Transforming Financial Markets

MacKenzie, Donald

Published by Princeton University Press, 2021

ISBN 10: 0691211388 ISBN 13: 9780691211381

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Seller: Romtrade Corp., STERLING HEIGHTS, MI, U.S.A.

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Condition: New. This is a Brand-new US Edition. This Item may be shipped from US or any other country as we have multiple locations worldwide. Seller Inventory # ABTA-301348

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Trading at the Speed of Light

Donald MacKenzie

Published by Princeton University Press, 2021

ISBN 10: 0691211388 ISBN 13: 9780691211381

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Seller: PBShop.store US, Wood Dale, IL, U.S.A.

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HRD. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # WP-9780691211381

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Trading at the Speed of Light: How Ultrafast Algorithms Are Transforming Financial Markets

MacKenzie

Published by Princeton University Press, 2021

ISBN 10: 0691211388 ISBN 13: 9780691211381

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Seller: Reuseabook, Gloucester, GLOS, United Kingdom

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hardcover. Condition: Used; Very Good. Dispatched, from the UK, within 48 hours of ordering. Though second-hand, the book is still in very good shape. Minimal signs of usage may include very minor creasing on the cover or on the spine. Seller Inventory # CHL10340169

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