Day one and already there’s some drama.
Today Michael Lewis released his new book, “Flash Boys: A Wall Street Revolt.” It’s about a group of guys from the Royal Bank of Canada who figured out that high-frequency traders are manipulating the stock market, so they decided to start their own HFT-agnostic exchange called IEX.
Apparently this has prompted someone to start telling tales about Lewis’ relationship with IEX, according to Lewis’ Facebook page:
It was no secret that a lot of banks, stock exchanges and trading firms weren’t going to like this book, but starting rumours is pretty low, if true.
We’ve reached out to Nunziata and to BNP Paribas for comment, but haven’t heard back yet.
IEX is marketing itself as the place where your pension funds and retirement funds are protected. Check out one of their marketing videos below. It’s called ‘Opportunity Now’ and is full on mum and pop, apple pie Americana.