High-Frequency Trading in Documentaries: Quants, Money & Speed, The Wall Street Code, The Speed Traders
Trader's Film Library #85 · People, money and institutions. Four documentaries about how algorithms and speed changed the market you trade in.
Original title: Quants: The Alchemists of Wall Street · Money & Speed: Inside the Black Box · The Wall Street Code · 60 Minutes: The Speed Traders · Type: documentaries · Created by: Marije Meerman (VPRO Backlight), CBS 60 Minutes · Usefulness for traders: ★★★★☆
What it's about
A trilogy from Dutch broadcaster VPRO (the Backlight series) by director Marije Meerman about the technological revolution on Wall Street: “Quants: The Alchemists of Wall Street” (2010) about the mathematicians who took over the markets, “Money & Speed: Inside the Black Box” (2012) about the flash crash of 6 May 2010, and “The Wall Street Code” (2013) about Haim Bodek, an algorithm designer who, after his own HFT firm failed, began exposing how exchange order types favour the fastest. Plus the report “The Speed Traders” from 60 Minutes (CBS).
What it has to do with markets
For a futures trader this is essential background: who is on the other side, how algorithms work, why orders in the book can vanish in a fraction of a second and where sudden, violent moves without news come from.
Lessons for traders
- the other side of your order is often an algorithm, not a person
- liquidity you see in the book can disappear in a millisecond: don't treat it as a guarantee
- market structure changes faster than the textbooks: keep learning
What to watch out for
Documentaries from over a decade ago. The technology has moved on, but the mechanisms are the same. Some of Bodek's claims were disputed.
Discussion
The discussion takes place in Hetman Capital Club (in Polish). Join the discussion in the Club →
Navigation
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The description outlines the plot without revealing the ending where possible (true stories have a known outcome). Educational content, not investment advice.