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Netflix has bought the rights of Michael Lewis 2014 non-fiction book "Flash Boys" about a stock market “rigged” by high-frequency traders who “front run” orders. The book focuses on the creation of IEX, the Investors Exchange, aimed at eliminating HFT advantages.

michael lewis flash boys book

Flash boys is a story built around a group of traders and bankers that aim to expose predatory high frequency trading or as Lewis writes, "the insidious new ways that Wall Street generates profits."  Predatory algorithms that "front run" orders or are designed to trigger panic or stop losses is what Lewis exposes and alleges are part of a "rigged" stock market. The flash boys name derives from what goes wrong as the "fake" liquidity leaves or machines run amok and a flash crash is the end result causing financial mayhem and huge losses.

At this time there are no producers attached to the film, which was initially bought by Sony in 2014, and will be adapted by Ben Jacoby, according to Deadline.

Flash Boys Evolution

Back in 2015 Michael Lewis wrote an article about 'Flash Boys' in Vanity Fair. Here we are in 2018 and I ask how many times does this quote sums up the chaos, which seems to go unabated in what many call the grand casinos of stock and bonds.

In the past 11 months, the U.S. stock market has been as chaotic as a Cambodian construction site. At times the noise has sounded like preparations for the demolition of a hazardous building. At other times it has sounded like a desperate bid by a slumlord to gussy the place up to distract inspectors. - Michael Lewis

Lewis is best known to the mainstream from the 2015 film, "The Big Short," which was based on a Michael Lewis about the subprime loan crisis that blew up and formed the GFC back in 2008.

Lewis has built a stable of financial stories with other books like  "Liar's Poker" and "Moneyball."

"The world clings to its old mental picture of the stock market because it's comforting; because it's so hard to draw a picture of what has replaced it; and because the few people able to draw it for you have no interest in doing so," Lewis writes in the introduction of "Flash Boys."

"This book is an attempt to draw that picture."

When I sat down to write Flash Boys, in 2013, I didn’t intend to see just how angry I could make the richest people on Wall Street. I was far more interested in the characters and the situation in which they found themselves. Led by an obscure 35-year-old trader at the Royal Bank of Canada named Brad Katsuyama, they were all well-regarded professionals in the U.S. stock market. The situation was that they no longer understood that market. And their ignorance was forgivable. It would have been difficult to find anyone, circa 2009, able to give you an honest account of the inner workings of the American stock market—by then fully automated, spectacularly fragmented, and complicated beyond belief by possibly well-intentioned regulators and less well-intentioned insiders. That the American stock market had become a mystery struck me as interesting. How does that happen? And who benefits? - Michael Lewis in Vanity Fiar March 2015

Source: Deadline Vanity Fair

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