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The foremost expert in the field of High Frequency Trading tells all

Former Hull Trading, UBS, and Goldman Sachs insider Haim Bodek's book exposes the problem of high frequency trading (HFT) and lays the blueprint for widespread US stock market reform.

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[BOOK] The Problem of HFTs by Haim Bodek

"This is a must-read for any trader in the markets. It's that simple. Mr. Bodek is shining a light onto the troubling games and unfair practices that have actually come to serve as the foundation of our high speed marketplace." 


-
Sal Arnuk, Co-Founder Themis Trading LLC & Co-Author Broken Markets


Author Haim Bodek was a hotshot at the fast-paced, high-risk trading desk of Goldman Sachs before becoming Head of Electronic Volatility Trading at UBS. When he broke free to launch his own hedge fund, Trading Machines, he unearthed a disturbing trend: exchanges collude with institutions to give their high-frequency traders an unfair advantage over individual investors.

When the exchanges offered Bodek such an advantage, he did not accept it.  Instead, he took it to the SEC -- launching an investigation that is shaking up the secretive world of high-frequency trading.

A famed reform advocate, Bodek penned The Problem of HFT: High Frequency Trading & Stock Market Reform to share his insights on the dangers of high frequency trading and teach traders how to protect their own orders.

This book explores the problem of high frequency trading (HFT) as well as the need for US stock market reform. This collection of previously published and unpublished materials includes the following articles and white papers:

1. The Problem of HFT- explains how HFTs came to dominate US equity markets by exploiting artificial advantages introduced by electronic exchanges that catered to HFT strategies

2. HFT Scalping Strategies- describes the primary features of modern HFT strategies currently active in US equities as well as the benefits these strategies extract from the maker-taker market model and the regulatory framework of the national market system

3. Why HFTs Have an Advantage- explains the critical importance of HFT-oriented special order types and exchange order matching engine practices in the operation of modern HFT strategies

4. HFT - A Systemic Issue- a discussion of the latest industry and regulatory developments with regard to exchange order matching practices that serve to advantage HFTs over the public customer

5. Electronic Liquidity Strategy- proposes a conceptual framework for institutional traders to achieve superior execution performance in HFT-oriented electronic market venues

6. Reforming the National Market System- proposes a 10-step plan for strengthening the operation of the US equities marketplace in order to serve the needs of long-term investors

7. NZZ Interview with Haim Bodek- addresses current topics and proposals for US equities market structure reforms

8. TradeTech Interview with Haim Bodek- addresses the current status of HFT order type debate

What you get with [BOOK] The Problem of HFTs

  • Blog Posts

    Receive access to Haim Bodek's latest blog posts as well as an archive of his past entries. These blogs will help you keep up with insights on past trades, thought on current market conditions, and will update you on Haim Bodek's upcoming events and appearances.

Latest Activity from [BOOK] The Problem of HFTs

Is This Product For You?

Content:

  • Trading: Options, Stocks, and ETFs
  • Asset Class: Options, ETFs
  • Frequency: Day Trading, Long Term Investing, and Swing Trading

Requirements:

  • Experience Level: Beginner, Intermediate
  • $25k in Trading Account

Goals:

  • Learn to trade Options & ETF effectively.
  • Make that money, honey!

Who Really Controls HFTs?

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Trading Style & Goals

Trading Style:

  • Type of Trading: Options, Stocks, and ETFs.
  • Frequency of Trading: Day Trading, Long Term Investing, and Swing Trading.

Haim Bodek

Haim Bodek is a Managing Principal of Decimus Capital Markets, LLC, a tactical consulting and strategic advisory firm focused on high frequency trading and market structure.

Mr. Bodek was formerly a founder and Chief Executive Officer of Trading Machines LLC, an independent high frequency options trading firm. Prior to TM, Mr. Bodek was a Managing Director and Joint Global Head of Electronic Volatility Trading at UBS Investment Bank. He is an electronic trading executive and algorithmic trading strategist with 15 years of experience in the automated trading space.

Mr. Bodek's career, experiences, and advocacy for US stock market regulatory reform are described extensively in Dark Pools by Scott Patterson, freelance writer and staff reporter for The Wall Street Journal.