IEX CEO Brad Katsuyama, the subject of Michael Lewis’ best-seller Flash Boys: A Wall Street Revolt, brought his “David among Goliaths” story to Baker Hall and detailed his efforts to restore balance and trust to the stock market.
His talk in spring 2017 was presented by the Center for Financial Services, Visiting Lecturers Committee and Zoellner Arts Center.
Katsuyama was an equities trader at RoyalBank of Canada when he noticed that stock offers vanished from his computer before he could complete client transactions, as if being watched. And the stock prices went up. In his quest to find out why, he discovered that high-frequency traders using computer algorithms took advantage of their speed and proximity to stock exchanges to front run his trades. His concern that the market was cheating investors compelled him to start IEX.
The full story on Katsuyama's visit was first published on Lehigh's News Center. To read the full story, click here.