Apr 1, 2014, 2:00 PM EDT
A new book by Michael Lewis, the author who brought the baseball world Moneyball and the football world The Blind Side, could have an effect on the fortunes of one of hockey’s newest owners.
From the Irish Times:
The release of Flash Boys: A Wall Street Revolt comes after years of public debate over the lightning-fast trading systems which have grown to dominate a fractured terrain where multiple exchanges and bank-run trading platforms compete for orders.
In the two weeks before publication of Mr Lewis’s book, Goldman Sachs has suddenly thrown its weight behind market reform after years of investment in HFT and has also taken the highly unusual step of telling staff to publicise its support for a competing trading platform.
Some market executives have even discussed with Virtu Financial, an HFT outfit preparing the first IPO of a global proprietary trading firm, postponing its share sale amid heightened scrutiny of its core business. Virtu declined to comment, but its roadshow is expected to kick off next week.
Virtu, if you thought you’d read that name before on PHT, was founded by Vincent Viola, the new owner of the Florida Panthers. Just a few weeks ago, the Wall Street Journal wrote the following about the company’s planned IPO:
High-frequency trading could soon officially mint its first billionaire.
Vincent “Vinnie” Viola, the founder of Virtu Financial Inc., could have his stake valued at around $2 billion once the company sells shares to the public, according to two people familiar with the matter.
We’re quite certain Viola won’t be out on the street if Virtu’s IPO doesn’t go perfectly, but certainly the timing of the book’s release isn’t fantastic.
- NHL Board of Governors approves Islanders sale 5
- Speedy recovery: Giroux (lower body) to play vs. Rangers tonight 9
- Risk Factors: Boston Bruins edition 12
- Hello Johansen? Boone Jenner out with broken hand 5
- Bruins release Leino; Boychuk staying put? 18
- Babcock doesn’t think this will be his last year with the Wings 9
- Starting tomorrow, PHT’s ‘Risk Factors’ Series 6
- Krug, Smith sign with Bruins 19
- PHT Morning Skate: Grigorenko with highlight-reel shootout goal 7
- Sabres lose Larsson, Kaleta to head injuries, Leafs’ Booth out too (Update: Franson’s hurt) 5
- Jordan Subban has ‘moved on’ after ‘unfortunate’ photo caption by Vancouver papers (52)
- Players pushed for coaching fines because they were ‘encouraged’ to dive (34)
- Sabres’ Nolan, Avalanche don’t believe in analytics (32)
- Ouch: Datsyuk (separated shoulder) out 4-5 weeks (27)
- Spooner scores, but coach Julien’s not happy (23)