If you thought Flash Boys was enlightening then you didn&#x27;t read carefully. He makes shit up.<p>Take the one example of a trader that claims the market jumps just by he entering a symbol and quantity- not submitting the order. That&#x27;s <i>huge</i>! It means espionage in a major trader&#x27;s office! But since Lewis knows it&#x27;s just bullshit coincidence, he just says &quot;oooo spooky HFTs&quot;.<p>Flash Boys: Not So Fast is a far better book. And even better, it&#x27;s actually acurate.<p>Lewis&#x27;s book is just an ad for IEX, hoping to scare ignorant people into worrying about perfectly fine stuff. The star, Brad, in his first scene, is <i>shocked</i>, just <i>shocked</i>, that his 50,000 order could cause price impact.<p>(Think: the customer paid 5 cents (2500$) to get Brad to sneakily sell the shares - obviously price impact is to be expected.)<p>There are plenty of cross markets, and nothing stops anyone from running a 5-second auction (with simple pro rata or complicated rules like POSIT). But IEXs investors just think coiling 38mi of fiber is neater. At least it makes a cool display for data center visits.)