Donald MacKenzie

Donald MacKenzie, a University of Edinburgh sociologist who studies finance and technology, discusses the history of ultrafast trading. He traces the leap from human-paced trades to machines operating in nanoseconds. He describes the physical speed race from co-location to fiber and microwave links, the cultural shift toward tech-like trading firms, and parallels between HFT arms races and AI scaling.

In this conversation, Donald MacKenzie, a professor at the University of Edinburgh and expert on the sociology of finance, explores the fast-paced world of trading shaped by ultra-fast algorithms. He discusses how technology transforms market behaviors and the surprising effects of environmental factors like rain. Their dialogue also touches on the complex interplay between financial models and real-world trading, highlighting the historical evolution of trading practices and the ethical dimensions of modern financial markets. A fascinating look at how sociology enriches our understanding of finance!