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.
- Bettman: NHL won’t expand ‘just to fulfill somebody’s notion of symmetry 7
- Report: Johansen lowers demands, but not low enough 27
- Injuries piling up as preseason schedule begins 11
- Report: Fedorov denies contract offer was made to Johansen 8
- Report: Johansen has gotten no shortage of KHL offers 43
- Update: Drouin out with upper body injury, not expected to miss preseason 1
- Report: NHL officials to participate in preseason without new CBA 1
- Evander Kane: I know I can score 50 goals 16
- ‘C’-less Thornton comes out swing against Wilson’s ‘tomorrow team’ talk 19
- Joe Sakic’s now general manager in name too 6
- Heeeeeere’s Johnny! Davidson shreds Johansen’s agent for ‘baffling, nonsensical’ contract demands (65)
- Jackets reveal Johansen offers — including an eight year, $46M deal (55)
- Will the NHL publicize divers? (48)
- No icing on the PK? The USHL will see how that looks (43)
- Report: Johansen has gotten no shortage of KHL offers (43)