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Layering was illegal before there was HFT.

Also, everyone who has any expertise in the way markets and especially electronic markets work, thinks that "Flash Boys" is a terrible book on the topic. You literally are worse off in understanding for reading it.

Try "Dark Pools". Still sensational and occasionally wrong, but at least it gets close.

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I can agree that Lewis was perhaps more focused on weaving a compelling story than focusing on the finer details of HFT. Nevertheless its a good primer on the subject and an interesting read. Thanks for the tip about Dark pools

The problem is that it is absolutely not a good primer on the subject, and the only way you could know this is if you have experience in electronic trading already.

If you are trying to learn about electronic / high frequency trading by reading "Flash Boys" you are actively working against yourself. You will literally be more incorrect after you have read this book.

I've read both "Flash boys" and "Dark Pools". Do you have any other book recommendations on this subject?

Those are the only ones I know of that do "narrative" non-fiction. If you are interested in technical books, Trading & Exchanges by Harris is good (if dated) and Algorithmic Trading & DMA by Johnson.

thank you very much.

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