Sony Pictures is close to a deal with bestselling author Michael Lewis to bring his latest book, a Wall Street drama and detective story, to the silver screen.
“Flash Boys: A Wall Street Revolt,” recounts how a group of misfit stock brokers and techies worked to expose, and then fight back, against the tactics of high-frequency traders, or HFTs. The HFTs were able to exploit computer technology and millisecond advantages to make huge profits at the expense of regular investors.
Scott Rudin will produce the film, along with Eli Bush, according to Deadline and Variety.
Lewis also wrote the books on which the films "The Blind Side" and "Moneyball" were based. Both films were nominated for best picture.
“Hollywood loves Lewis, who specializes in taking complex subjects and breaking them down in most relatable ways by telling the stories through the perspective of intriguing characters,” Deadline wrote.
“Flash Boys” was released March 31 by publisher W.W. Norton. The following day, Bloomberg News reported that the FBI was investigating whether high-frequency trading firms broke U.S. laws by using private data to gain an advantage in the market.
Lewis told NBC's "Today" show this week that he believes people inside the HFTs may be more willing to speak about the industry’s practices.
“It’s an unfair playing field,” he said. “It’s crazy for investors to be trading against people who have, essentially, have knowledge of the prices before they do.”