Modern Markets Initiative Responds to 'Flash Boys' Challenge
MMI Proposes Market Structure Discussion With Bill Harts and Michael Lewis or Brad Katsuyama Moderated By TABB Group Founder & CEO Larry Tabb
NEW YORK, March 25, 2015 /PRNewswire/ -- The Modern Markets Initiative, an advocacy group for high frequency trading, today issued the following statement in response to author Michael Lewis' challenge to MMI Chief Executive Officer Bill Harts on HuffPost Live.
"I appreciate Michael Lewis' suggestion for me to engage in a substantive dialogue with IEX CEO Brad Katsuyama. I am disappointed that Mr. Lewis has turned down my offer to have such a discussion with him personally, but if Mr. Katsuyama is his surrogate, so be it. We will keep an open chair for Mr. Lewis if he changes his mind," Harts said.
In a recent Op-Ed published on CNBC.com, Harts said that nearly one year after the publication of Flash Boys, there are many lingering questions concerning the very issues Mr. Lewis claims to have exposed in the book. He extended Mr. Lewis an invitation to sit down with MMI to address these topics and discuss ways to make markets better for all its participants.
"I welcome the opportunity to have a constructive dialogue with Mr. Katsuyama on market structure and to address ways in which we can improve the market environment for retail investors – who Barron's recently said have never had it better in terms of receiving Wall Street's best prices on their stock orders," Harts added.
MMI proposes that TABB Group Founder and Chief Executive Officer Larry Tabb serve as a moderator for this discussion at the Tabb Forum Conference titled Equities 2015: A New Vision Forward on May 21 at the New York Hilton.
About the Modern Markets Initiative (MMI):
The Modern Markets Initiative (MMI) was organized in 2013 by leading quantitative trading firms to engage and educate public audiences about the value modern market professionals provide to today's electronic marketplace.
Modern Markets Initiative (MMI) members are Global Trading Systems (GTS), Hudson River Trading (HRT), Quantlab Financial and Tower Research Capital. Additional information is available at www.modernmarketsinitiative.org.
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SOURCE Modern Markets Initiative
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