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    Dark Pools: The Rise of A.I. Trading Machines and the Looming Threat to Wall Street (Paperback) By (author) Scott Patterson

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    DescriptionIn "Dark Pools", "Wall Street Journal" reporter Scott Patterson tells the story of the group of whizzkids who applied their computer programming genius to the invention of 'robot versions of Warren Buffett'. As they did so, they created a radically new trading system in which machines trade anonymously with other machines, making and losing fortunes in the blink of an eye. This state-of-the-art technology has transformed the financial markets, but it has also raised some disturbing questions. If computers are trading with each other, does that mean that people have lost control? How can this system be monitored, let alone regulated? And if it all comes crashing down, whose fault will it be? Pacy, fascinating and revealing, "Dark Pools" takes the lid off the new-look financial markets, and comes to some chilling conclusions.


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  • Full bibliographic data for Dark Pools

    Title
    Dark Pools
    Subtitle
    The Rise of A.I. Trading Machines and the Looming Threat to Wall Street
    Authors and contributors
    By (author) Scott Patterson
    Physical properties
    Format: Paperback
    Number of pages: 368
    Width: 153 mm
    Height: 234 mm
    Thickness: 27 mm
    Weight: 485 g
    Language
    English
    ISBN
    ISBN 13: 9781847940971
    ISBN 10: 1847940978
    Classifications

    BIC geographical qualifier V2: 1KBB
    BIC E4L: FIN
    Nielsen BookScan Product Class 3: S4.9
    BIC subject category V2: KFFM, KFF, UYQ
    Warengruppen-Systematik des deutschen Buchhandels: 17840
    BISAC V2.8: BUS036000
    BIC subject category V2: 1KBB, UXC
    DC23: 332.640973
    Publisher
    Cornerstone
    Imprint name
    RANDOM HOUSE BUSINESS BOOKS
    Publication date
    05 July 2012
    Publication City/Country
    London
    Author Information
    Scott Patterson worked for several years as a financial reporter at the Wall Street Journal. He lives in New York. His previous book The Quants (Random House Business, 2009) was a New York Times and Wall Street Journal bestseller.
    Review quote
    "As an exposition of Wall Street nerdcraft, Dark Pools truly delivers ... Patterson's tales of ingenuity and cunning read like a spy novel." -- Jon Ihle Sunday Business Post "Gruelling and terrifying, Patterson questions the future of the human inquisitve mind." European CEO
    Back cover copy
    dark pools noun private, lightly regulated exchanges where artificially intelligent trading machines trade vast sums of money behind closed doors flash crash noun a sudden and dramatic plunge in share prices followed by a recovery within minutes global financial stability noun an increasingly threatened concept In Dark Pools, Wall Street Journal reporter Scott Patterson tells the story of the group of whizzkids who applied their computer programming genius to the invention of ‘robot versions of Warren Buffett’. As they did so, they created a radically new trading system in which machines trade anonymously with other machines, making and losing fortunes in the blink of an eye. This state-of-the-art technology has transformed the financial markets, but it has also raised some disturbing questions. If computers are trading with each other, does that mean that people have lost control? How can this system be monitored, let alone regulated? And if it all comes crashing down, whose fault will it be? Pacy, fascinating and revealing, Dark Pools takes the lid off the new-look financial markets, and comes to some chilling conclusions.