Flash Boys - A Wall Street Revolt - A Comprehensive Summary "Flash Boys: A Wall Street Revolt" by Michael Lewis is a non-fiction book that exposes the dark side of high-frequency trading (HFT) and its impact on the stock market. The book tells the story of a group of traders and entrepreneurs who were determined to challenge the corrupt and unfair practices of HFT firms, which use high-speed computers and algorithms to front-run the trades of ordinary investors and make huge profits at their expense. The book is divided into three parts. In the first part, "The Machine," Lewis introduces the reader to the world of high-frequency trading and the technology that makes it possible. He describes how the stock market has become a game of milliseconds, where speed is everything and the fastest traders win. He also introduces the main characters of the story, including Brad Katsuyama, a former trader at the Royal Bank of Canada (RBC), who becomes the leader of the group that challenges HFT. In the second part, "The Salamander," Lewis tells the story of how Katsuyama and his team discovered that the stock market was rigged against them and other ordinary investors. They found that HFT firms were using a practice called "predatory latency arbitrage," which allowed them to buy and sell stocks ahead of other traders by exploiting the time delay between different stock exchanges. Katsuyama and his team were determined to find a way to level the playing field and expose the unfair practices of HFT. In the third part, "The Wolf," Lewis describes how Katsuyama and his team created a new stock exchange, called IEX, that was designed to prevent HFT firms from front-running the trades of ordinary investors. IEX introduced a new system called a "speed bump," which added a delay of 350 microseconds to all trades, thus eliminating the advantage of HFT firms. The creation of IEX was a huge success, and it soon became one of the fastest-growing stock exchanges in the United States. Throughout the book, Lewis exposes the corrupt practices of HFT firms and the complicity of Wall Street banks and regulators in allowing them to operate. He shows how HFT has created a two-tiered market, where the most sophisticated traders can make huge profits at the expense of ordinary investors. He also highlights the importance of transparency and fairness in financial markets, and the need for reform to prevent abuses. One of the key themes of the book is the power of technology to disrupt and transform industries. Lewis shows how the rise of HFT has fundamentally changed the nature of the stock market, and how new technology can be used to challenge and overcome the unfair practices of entrenched players. He also highlights the role of entrepreneurship and innovation in driving change and creating new opportunities. Here is a Preview of What You Will Get: ⁃ A Detailed Introduction ⁃ A Comprehensive Chapter by Chapter Summary ⁃ Etc Get a copy of this summary and learn about the book.