, Columnists
‘Flash Boys’ Hero Is Picking a Fight With Hedge Fund Citadel
- Both sides mobilize executives to try to sway Congress and SEC
- Flap hinges on whether a speedbump helps, or hurts, investors
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Brad Katsuyama and his Investors’ Exchange were lionized in the best-selling book “Flash Boys” as protecting mom-and-pop investors from predatory high-frequency traders.
Now nearly two years later, his firm, IEX Group Inc., is counting on that renown to help smooth its path to become a public stock exchange. The designation would bring a stamp of approval from the U.S. Securities and Exchange Commission for Katsuyama’s idea of briefly pausing orders to take away the edge possessed by traders with superfast computers. The SEC’s endorsement would also enhance IEX’s business by boosting the number of trades it handles.