Michael Lewis

Michael Lewis is author of Flash Boys: A Wall Street Revolt. (Lucas Jackson/Reuters)

In his controversial new book, Flash Boys: A Wall Street Revolt, best-selling author Michael Lewis tells the story of a Canadian trader who questioned the morality of high-frequency trading and decided to fight it.

Flash Boys has made a hero of Brad Katsuyama, who first became disillusioned with the markets when he was sent to New York as a trader for RBC.

Katsuyama investigated the impact of high-frequency trading, and concluded high-speed access gives them an advantage in which they can scoop up shares ahead of other traders and then sell them back to potential buyers at a higher price.

In this interview with CBC’s The Current, Lewis likens high-frequency trading to a casino in which the house always wins with the help of a handful of card sharks and an altered deck.