on 4 October 2013
I am disappointed with this book since I expected fewer topics but more in depth coverage regarding the subject. Instead, the book just scratches on the surface on many different areas, like computer and network hardware/architecture, portfolio performance measurement, an overview of regulations in different regions and some scenarios where you could apply HFT techniques. They are presented more for executives and you would never be able to implement a HFT system based solely on the information presented in this book. Furthermore, I believe, it is not necessary to describe certain (network) protocols, as this sort of information is publicly available anyway and thus does not add any value to the book. The last third of the book becomes more interesting as it addresses actual HFT strategies, the risks involved with HFT and some public misconceptions regarding HFT. On a second thought though, you probably cannot really expect in depth information since nobody in this industry would want to share such potentially profitable knowledge.
People who have yet to learn everything how markets or exchanges work might profit most from this book.
I still gave it three stars because the book is definitely useful for the right audience.