This is the book I couldn’t find when I started working with derivatives: A primer I could read on the train with just enough detail to cover the basics of what financial derivatives are all about, with emphasis on the basics–what they are, how they are used, and the risks of using them unwisely. Here's … Continue reading All About Derivatives →

In this book I present HFT for what it is: the use of speed as a competitive advantage in the trading of financial securities. It can be used for purposes either beneficial and reasonable, or predatory and harmful. I hope my book promotes more of the former and much less of the latter. Here’s an … Continue reading All About High Frequency Trading →

The New York Times Opinion Pages | OP-ED CONTRIBUTOR By MICHAEL DURBIN MAY 7, 2010 Chapel Hill, N.C. ON Thursday afternoon, the Dow plunged 1,000 points within a few minutes, followed by an equally sudden recovery. We don’t know all the details about the drop, but it was almost certainly the result of computer or … Continue reading Fixing Wall Street’s Autopilot →