Thanks HFT: Sovereign Wealth Funds and Pensions Fear Financial Transaction Tax

Stock Market - Red and Green Figures on Blue DisplayMichael Lewis’ Flash Boys: Cracking the Money Code has made rounds on American television, creating uproar in the secret world of high-frequency trading (HFT). After the slurry of TV interviews of Lewis promoting his new book, the Federal Bureau of Investigations (FBI) came forward, publicly announcing an investigation into high-frequency trading.

“The United States stock market, the most iconic market in global capitalism, is rigged.”

These were the words that came out of Michael Lewis’ mouth on the CBS Show “60 Minutes” in his interview with Steve Kroft.

Sovereign wealth funds, like Norway’s Government Pension Fund Global (GPFG) note the negative impact of high-frequency trading for large institutional investors executing big orders. The Nordic sovereign fund contends that HFT exploits the structural differences between venues.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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