Another High Frequency Trading graphic from the NYT . Having read the reviews of Flash Boys in the NYT and especially that of Diane Coyle on her blog The Enlightened Economist it seems to be a good read.
High-frequency-trading activity is not constant; it occurs in microbursts. The line at the bottom of this graphic is the stock-market activity involving General Electric shares over 100 milliseconds (one-tenth of a second) at 12:44 p.m. on Dec. 19, 2013. The gray box magnifies a five-millisecond window, during which GE experienced heavy bid and offer activity and a total of 44 trades. Credit Graphic: CLEVERºFRANKE. Data source: IEX.