Continuing our blog series, “Powerful Reading,” our team of energy trading consultants at MidDel Consulting will be sharing some of their favorite books. These books have not only influenced them in the excellent work that they do for our clients as energy consultants, but have also helped them gain perspective on a variety of global issues as we continue to strive to build a culture of lifelong learning. Today, we look at a book entitled:
FLASH BOYS - MICHAEL LEWIS 2014
Everyone is looking for quicker access to information. Ethical, or even legal, questions can arise regarding the means of acquiring that information and what actions are taken with regards to this knowledge. In Flash Boys, Lewis explains how electronic stock trading has evolved to a point where the speed of data transfer became the top priority for the big banks. High frequency trading (HFT), or front running trades, became a lucrative business of its own and has made millions upon millions for these banks. And that’s where the ethical questions come in. One trader, who wound up on the wrong end of these deals too many times, uncovered what was transpiring. He then built a team to create an entirely new exchange configured specifically to prevent HFT. Discover how the team overcame numerous obstacles, most notably, indifference from the SEC when the topic of HFT was brought to their attention.
Scott Pederson is a Certified Public Accountant and a Senior Energy Consultant with MidDel Consulting. MidDel Consulting is a System Integrator and Professional Services firm specializing in services supporting the business systems for Front, Back and Mid-Office. MidDel has been in business for over 16 years, and our consultants, on average, bring over 25 years of senior level energy industry knowledge to our projects. We have deep relationships with our clients, often working with them for more than a decade. For more information, email us firstname.lastname@example.org or call 952-500-9275.