Part 1/9:
The Hidden World of High-Frequency Trading: An Insider's Revelation
The financial realm of Wall Street is notoriously complex and fiercely competitive. In the late 1990s, as technology began reshaping the trading landscape, some firms discovered a loophole in the newly implemented electronic systems that would allow them to manipulate the market to their advantage. This loophole, known as latency arbitrage, allowed firms to detect orders from slower traders and execute trades before them, profiting immensely. But, unbeknownst to many in the industry, a Canadian trader named Brad Katsuyama was about to challenge this unregulated exploitation.