Michael Lewis strikes again with his new real life financial drama, “Flash Boys, A Wall Street Revolt.” Lewis alleges the stock market is “rigged” by high frequency traders being able to “front run” orders ahead of other traders. “Flash Guys” also focuses on the creation of IEX, the Investor’s Exchange, aimed at eliminating the advantage of high-frequency trading.
Sony Pictures is working on a movie rights deal for the book that focuses on high-frequency trading and possible market manipulation. This will be the second Sony deal for a Lewis’ book, following 2011’s “Moneyball,” which starred Brad Pitt.
Bloomberg News reported on April 1, the day after publication of “Flash Guys,” that the FBI was investigating whether high-frequency trading firms break U.S. laws by acting on nonpublic information to gain an edge over competitors.