Dark Pools

  • by Scott Patterson
  • Narrated by Byron Wagner
  • 11 hrs and 39 mins
  • Unabridged Audiobook

Publisher's Summary

A news-breaking account of the global stock market's subterranean battles, Dark Pools portrays the rise of the "bots" - artificially intelligent systems that execute trades in milliseconds and use the cover of darkness to out-maneuver the humans who've created them.
In the beginning was Josh Levine, an idealistic programming genius who dreamed of wresting control of the market from the big exchanges that, again and again, gave the giant institutions an advantage over the little guy. Levine created a computerized trading hub named Island where small traders swapped stocks, and over time his invention morphed into a global electronic stock market that sent trillions in capital through a vast jungle of fiber-optic cables.
By then, the market that Levine had sought to fix had turned upside down, birthing secretive exchanges called dark pools and a new species of trading machines that could think and that seemed, ominously, to be slipping the control of their human masters.
Dark Pools is the fascinating story of how global markets have been hijacked by trading robots - many so self-directed that humans can't predict what they'll do next.


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Customer Reviews

Most Helpful

Definitive history on Electronic Trading

The author covers the material so well that even for those who aren't interested in the development of electronic trading will find the story an exciting read. He puts the context around the development and has written the definitive history on the subject.

I'm a big fan of "The Singularity is Near" by Ray Kurzweil and I thought a lot of his telling of the story was influenced by Ray Kurzweil's thinking on AI and such. Near the very end of the book the author brings up Kurzweil and his thinking. He really didn't fit into the story's arc, but I took it as an ode to Kurzweil.

I warn you. The book will give you a queasy feeling in your stomach because he documents so thoroughly how the HST (high speed traders) are systematically taking money away from us because there is not a level playing field for small players like us who invest through our mutual funds or individual stocks and ETFs.
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- Gary

Thrilling insight into the world of HFT's!!

Would you listen to Dark Pools again? Why?

I will absolutely listen again!! Loved the audio book.. Informative, descriptive, thrilling, and just an all around great read/listen!

What was one of the most memorable moments of Dark Pools?

Loved hearing about the creation of Island, ARCA, and the passion of the programmers that created them!

What about Byron Wagner’s performance did you like?

Byron was absolutely one of the best narrators that I have ever heard.. I wish the book I'm listening to now was done by him!

Did you have an extreme reaction to this book? Did it make you laugh or cry?

After listening to this book I want to go and create my own computer program.. I love trading and I am extremely passionate about the financial markets.. This book really got my wheels spinning!

Any additional comments?

Must read!

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- Tony

Book Details

  • Release Date: 06-12-2012
  • Publisher: Random House Audio