CEOs of Exchanges Have it Out on Trading Floor

Joel Anderson |


The new Michael Lewis book Flash Boys: A Wall Street Revolt was released on Monday. Detailing the way high-frequency traders have created markets that greatly benefit industry insiders, it's an indictment of the idea that an open and fair market for stocks currently exists for normal investors. And on Tuesday, the book created some real sparks when the President and CEO of IEX, Brad Katsuyama, engaged in a lively debate on CNBC with William O'Brien, CEO of. BATS Global Markets. O'Brien was clearly irked with the books assertion that the markets are "rigged" and that his exchange was a part of the problem, railing against Katsuyama and Michael Lewis for over 20 minutes. The discussion was heated enough that it appeared to halt trading for some to watch as it unfolded. You can watch the argument below.

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