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Darkness in the trading ecosystem

Book review of Darkness By Design: The Hidden Power In Global Capital Markets

Cover of Darkness by Design – The Hidden Power in Global Capital Markets. Credits: Amazon.in
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Cover of Darkness by Design – The Hidden Power in Global Capital Markets. Credits: Amazon.in

Namit Gupta
What’s the difference between, say, 30.79 milliseconds and 29.29 milliseconds, where one millisecond is one-thousandth of the smallest unit of time on your wristwatch? One-and-a-half milliseconds and a few million dollars or more, made or lost, Walter Mattli would have you know in his book Darkness By Design: The Hidden Power In Global Capital Markets as he takes you on a trip into the sinister world of stock market deals based on algorithmic trading.

Mr Mattli, a professor of international political economy and a fellow of St John’s College, Oxford, paints a gloomy picture of the state of affairs in securities

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