The Huffington Post Praises Knightmare on Wall Street: Perez’s Book Takes the Reader on a Wild Ride

Edgar Perez, former McKinsey and IBM consultant, is a global speaker and author of The Speed Traders, Knightmare on Wall Street, and the forthcoming The 11th-Hour Deal, Behind Washington’s Closed Doors During the 16-day Government Shutdown of October 2013.

Knightmare on Wall Street - Cover

New York, NY, USA (February 14, 2014) — Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, was recently reviewed by The Huffington Post which praised its “great historical analysis and insights into what exactly went wrong” with Knight Capital. “Edgar Perez’s book takes the reader on a wild ride. A forensic analysis showed how an old forgotten line of code, like an ex-girlfriend, showed up and turned itself on, which began instantly trading a cascade of orders. By 10:00 am that morning, the Knight Capital IT team was able to stop the program, but it continued finishing trades for the next fifteen minutes. Then they began to assess the damage.

James Grundvig, author of the review and CEO/Founder of CloudNician LLC, concludes: “From a platform launch with a morning cup of coffee, to the brink of bankruptcy in less than an hour, Knightmare is a book that is both a page-turner and modern historical drama with outsized egos, supersized packages, and bailouts from rivals who turn into sharks in a chum feeding frenzy.” The full review can be accessed here: http://www.huffingtonpost.com/james-grundvig/book-review-the-meltdown-_b_4719207.html.

Knightmare on Wall Street (http://www.knightmareonwallstreet.com), the fascinating story of Knight Capital, was also the most favorably reviewed Kindle edition book on Amazon in 2013, with an average rating of 5 out of five stars. Knight Capital, founded by Kenneth Pasternak and Walter Raquet in 1995, had seen its fortunes change as U.S. regulators made a series of changes in the structure of financial markets and computers were progressively expanding their share of trading. The Flash Crash, the infamous 1,000 point drop of the DJIA on May 6, 2010 (the largest one-day point decline in history), illustrated how market structure problems could almost instantaneously cascade from one market participant to the rest.

Thomas Joyce, CEO of Knight Capital since 2002 and an unapologetic advocate of electronic trading, had been scornful of those companies that struggled to keep up with ever-changing stock markets. So it was certainly shocking that at 9:30 A.M. on August 1, 2012, right after the markets opened for the day, Knight Capital began issuing an unprecedented number of erroneous orders into the market, due to an error in installing new software. No rogue trader or regulatory change; operational risk was passing the bill to Knight Capital and becoming the biggest risk in the financial markets.

Knight Capital announced later a staggering loss of $440 million. What followed after this shocking announcement were several rounds of desperate conversations with a number of vulture players who had smelled opportunity and were readying themselves to pick up bargain-priced pieces. On August 6, 2012, Joyce confirmed that Knight Capital had struck a deal with Jefferies, TD Ameritrade, Blackstone, GETCO, Stephens, and Stifel Financial, staving off collapse days after the trading mishap.

While Knight Capital was back in the game, its limping recovery quickly prompted hungry competitors to bid for the entire company. On December 19, 2012, the board decided to accept an acquisition proposal from GETCO rather than Virtu Financial. For GETCO, acquiring Knight Capital represented a gigantic fast forward step. For Knight Capital, it was the end of its wild ride as an independent entity.

Mr. Perez (http://www.mredgarperez.com) is widely regarded as the preeminent global expert in investing and high-frequency trading. He is author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, published in English by McGraw-Hill Inc. (2011), published in Mandarin by China Financial Publishing House (2012), and Investasi Super Kilat: Pandangan Orang dalam tentang Fenomena Baru Frekuensi Tinggi yang Mentransformasi Dunia Investasi, published in Bahasa Indonesia by Kompas Gramedia (2012). Mr. Perez is course director of The Speed Traders Workshop, How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (Hong Kong, Sao Paulo, Seoul, Kuala Lumpur, Warsaw, Kiev, New York, Singapore, Beijing, Shanghai). He contributes to China’s International Finance News and Sina Finance and The New York Times.

Mr. Perez (http://www.facebook.com/AmericasUltimateNetworker) has been interviewed on CNBC, FOX BUSINESS, Bloomberg TV, CNN en Español, Sina Finance, BNN’s Business Day, CCTV China, Bankier.pl, TheStreet.com, Leaderonomics, GPW Media, Channel NewsAsia’s Business Tonight and Cents & Sensibilities. In addition, Mr. Perez has been globally featured on FXFactor, Columbia Business, OpenMarkets, Sohu, News.Sina.com, Yicai, eastmoney, Caijing, ETF88.com, 360doc, AH Radio, CNFOL.com, CITICS Futures, Tongxin Securities, ZhiCheng.com, CBNweek.com, Caixin, Futures Daily, Xinhua, CBN Newswire, Chinese Financial News, ifeng.com, International Finance News, hexun.com, Finance.QQ.com, Finance.Sina.com, The Korea Times, The Korea Herald, The Star, The Malaysian Insider, BMF 89.9, iMoney Hong Kong, CNBC, Bloomberg Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News, Valor Econômico, FIXGlobal Trading, TODAY Online, Oriental Daily News and Business Times.

Mr. Perez (http://www.weibo.com/edgarperez) was a vice president at Citigroup, a senior consultant at IBM, and a strategy consultant at McKinsey & Co., the American global management consulting firm that focuses on solving issues of concern to senior management; the firm serves as an adviser to businesses, governments, and institutions around the world. McKinsey is widely considered to be the most prestigious management consulting firm in the world, with over 100 offices in 60 countries.

Mr. Perez (http://en.wikipedia.org/wiki/Edgar_Perez) has an undergraduate degree from Universidad Nacional de Ingeniería, Lima, Peru (1994), a Master of Administration from Universidad ESAN, Lima, Peru (1997) and a Master of Business Administration from Columbia Business School, New York, with a dual major in Finance and Management (2002). He belongs to the Beta Gamma Sigma honor society. Mr. Perez (https://twitter.com/mredgarperez) resides in the New York City metro area and is an accomplished salsa and hustle dancer.

Media Contact:
Julia Petrova
Media Relations Coordinator
Knightmare on Wall Street
+1-414-FORUMS0
info@knightmareonwallstreet.com
http://www.knightmareonwallstreet.com

The Huffington Post’s James Grundvig Discusses Money Book Knightmare on Wall Street with Edgar Perez

Edgar Perez, former McKinsey and IBM consultant, is a global speaker and author of The Speed Traders, Knightmare on Wall Street, and the forthcoming The 11th-Hour Deal, Behind Washington’s Closed Doors During the 16-day Government Shutdown of October 2013.

Mr. Edgar Perez

New York, NY, USA (February 11, 2014) — James Grundvig, author of the review and CEO/Founder of CloudNician LLC, recently discussed Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, with author Edgar Perez for The Huffington Post. “Perhaps the SEC read his book, because many of its findings can be found in Knightmare on Wall Street. In fact, Perez had addressed the SEC’s Market Abuse Unit in Washington soon after his first book, The Speed Traders, was published.”

Grundvig describes Perez as “a personable, humble, and talented author. His English is breezy, succinct, uses an economy of words to get to the point, and is a pleasure to read. He knows how to hit the right beats to take this true story and give it the drama it deserves, because many lives were ruined because few precautions were taken.” He reveals a number of parties have expressed interest in acquiring the rights to this story. “With the success of Wall Street: Money Never Sleeps and The Wolf of Wall Street, no doubt there is an appetite for stories that depict the dramatic intersections of money and egos,” said Perez.

Knightmare on Wall Street (http://www.knightmareonwallstreet.com), the fascinating story of Knight Capital, was also the most favorably reviewed Kindle edition book on Amazon in 2013, with an average rating of 5 out of five stars. Knight Capital, founded by Kenneth Pasternak and Walter Raquet in 1995, had seen its fortunes change as U.S. regulators made a series of changes in the structure of financial markets and computers were progressively expanding their share of trading. The Flash Crash, the infamous 1,000 point drop of the DJIA on May 6, 2010 (the largest one-day point decline in history), illustrated how market structure problems could almost instantaneously cascade from one market participant to the rest. The full review can be accessed here: http://www.huffingtonpost.com/james-grundvig/book-review-the-meltdown-_b_4719207.html.

Thomas Joyce, CEO of Knight Capital since 2002 and an unapologetic advocate of electronic trading, had been scornful of those companies that struggled to keep up with ever-changing stock markets. So it was certainly shocking that at 9:30 A.M. on August 1, 2012, right after the markets opened for the day, Knight Capital began issuing an unprecedented number of erroneous orders into the market, due to an error in installing new software. No rogue trader or regulatory change; operational risk was passing the bill to Knight Capital and becoming the biggest risk in the financial markets.

Knight Capital announced later a staggering loss of $440 million. What followed after this shocking announcement were several rounds of desperate conversations with a number of vulture players who had smelled opportunity and were readying themselves to pick up bargain-priced pieces. On August 6, 2012, Joyce confirmed that Knight Capital had struck a deal with Jefferies, TD Ameritrade, Blackstone, GETCO, Stephens, and Stifel Financial, staving off collapse days after the trading mishap.

While Knight Capital was back in the game, its limping recovery quickly prompted hungry competitors to bid for the entire company. On December 19, 2012, the board decided to accept an acquisition proposal from GETCO rather than Virtu Financial. For GETCO, acquiring Knight Capital represented a gigantic fast forward step. For Knight Capital, it was the end of its wild ride as an independent entity.

Mr. Perez (http://www.facebook.com/AmericasUltimateNetworker) has been interviewed on CNBC, FOX BUSINESS, Bloomberg TV, CNN en Español, Sina Finance, BNN’s Business Day, CCTV China, Bankier.pl, TheStreet.com, Leaderonomics, GPW Media, Channel NewsAsia’s Business Tonight and Cents & Sensibilities. In addition, Mr. Perez has been globally featured on FXFactor, Columbia Business, OpenMarkets, Sohu, News.Sina.com, Yicai, eastmoney, Caijing, ETF88.com, 360doc, AH Radio, CNFOL.com, CITICS Futures, Tongxin Securities, ZhiCheng.com, CBNweek.com, Caixin, Futures Daily, Xinhua, CBN Newswire, Chinese Financial News, ifeng.com, International Finance News, hexun.com, Finance.QQ.com, Finance.Sina.com, The Korea Times, The Korea Herald, The Star, The Malaysian Insider, BMF 89.9, iMoney Hong Kong, CNBC, Bloomberg Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News, Valor Econômico, FIXGlobal Trading, TODAY Online, Oriental Daily News and Business Times.

Mr. Perez (http://www.mredgarperez.com) is widely regarded as the preeminent global expert in investing and high-frequency trading. He is author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, published in English by McGraw-Hill Inc. (2011), published in Mandarin by China Financial Publishing House (2012), and Investasi Super Kilat: Pandangan Orang dalam tentang Fenomena Baru Frekuensi Tinggi yang Mentransformasi Dunia Investasi, published in Bahasa Indonesia by Kompas Gramedia (2012). Mr. Perez is course director of The Speed Traders Workshop, How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (Hong Kong, Sao Paulo, Seoul, Kuala Lumpur, Warsaw, Kiev, New York, Singapore, Beijing, Shanghai). He contributes to China’s International Finance News and Sina Finance and The New York Times.

Mr. Perez (http://www.weibo.com/edgarperez) was a vice president at Citigroup, a senior consultant at IBM, and a strategy consultant at McKinsey & Co., the American global management consulting firm that focuses on solving issues of concern to senior management; the firm serves as an adviser to businesses, governments, and institutions around the world. McKinsey is widely considered to be the most prestigious management consulting firm in the world, with over 100 offices in 60 countries.

Mr. Perez (http://en.wikipedia.org/wiki/Edgar_Perez) has an undergraduate degree from Universidad Nacional de Ingeniería, Lima, Peru (1994), a Master of Administration from Universidad ESAN, Lima, Peru (1997) and a Master of Business Administration from Columbia Business School, New York, with a dual major in Finance and Management (2002). He belongs to the Beta Gamma Sigma honor society. Mr. Perez (https://twitter.com/mredgarperez) resides in the New York City metro area and is an accomplished salsa and hustle dancer.

Media Contact:
Julia Petrova
Media Relations Coordinator
Knightmare on Wall Street
+1-414-FORUMS0
info@knightmareonwallstreet.com
http://www.knightmareonwallstreet.com

The Huffington Post’s Book Review: Knightmare on Wall Street is “so Rich in Detail, so Riveting”

Edgar Perez, former McKinsey and IBM consultant, is a global speaker and author of The Speed Traders, Knightmare on Wall Street, and the forthcoming The 11th-Hour Deal, Behind Washington’s Closed Doors During the 16-day Government Shutdown of October 2013.

Knightmare on Wall Street - Cover

New York, NY, USA (February 10, 2014) — Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, was favorably reviewed by The Huffington Post. “Author Edgar Perez’s book is so rich in detail, so riveting, opening with a brief history of the firm and then following with the dramatic August 1, 2012, morning trading meltdown that it boggled this author’s mind.” James Grundvig, author of the review and CEO/Founder of CloudNician LLC, continued: “With no access to Knight’s management, he compiled all the facts to the trading Titanic, with its many parallel story lines, avenues of deep research, and subplots — which savior turned suitor turned predator — and self-published Knightmare on its one-year anniversary in 2013.” The full review can be accessed here: http://www.huffingtonpost.com/james-grundvig/book-review-the-meltdown-_b_4719207.html.

Knightmare on Wall Street (http://www.knightmareonwallstreet.com), the fascinating story of Knight Capital, was also the most favorably reviewed Kindle edition book on Amazon in 2013, with an average rating of 5 out of five stars. Knight Capital, founded by Kenneth Pasternak and Walter Raquet in 1995, had seen its fortunes change as U.S. regulators made a series of changes in the structure of financial markets and computers were progressively expanding their share of trading. The Flash Crash, the infamous 1,000 point drop of the DJIA on May 6, 2010 (the largest one-day point decline in history), illustrated how market structure problems could almost instantaneously cascade from one market participant to the rest.

Thomas Joyce, CEO of Knight Capital since 2002 and an unapologetic advocate of electronic trading, had been scornful of those companies that struggled to keep up with ever-changing stock markets. So it was certainly shocking that at 9:30 A.M. on August 1, 2012, right after the markets opened for the day, Knight Capital began issuing an unprecedented number of erroneous orders into the market, due to an error in installing new software. No rogue trader or regulatory change; operational risk was passing the bill to Knight Capital and becoming the biggest risk in the financial markets.

Knight Capital announced later a staggering loss of $440 million. What followed after this shocking announcement were several rounds of desperate conversations with a number of vulture players who had smelled opportunity and were readying themselves to pick up bargain-priced pieces. On August 6, 2012, Joyce confirmed that Knight Capital had struck a deal with Jefferies, TD Ameritrade, Blackstone, GETCO, Stephens, and Stifel Financial, staving off collapse days after the trading mishap.

While Knight Capital was back in the game, its limping recovery quickly prompted hungry competitors to bid for the entire company. On December 19, 2012, the board decided to accept an acquisition proposal from GETCO rather than Virtu Financial. For GETCO, acquiring Knight Capital represented a gigantic fast forward step. For Knight Capital, it was the end of its wild ride as an independent entity.

Mr. Perez (http://www.mredgarperez.com) is widely regarded as the preeminent global expert in investing and high-frequency trading. He is author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, published in English by McGraw-Hill Inc. (2011), published in Mandarin by China Financial Publishing House (2012), and Investasi Super Kilat: Pandangan Orang dalam tentang Fenomena Baru Frekuensi Tinggi yang Mentransformasi Dunia Investasi, published in Bahasa Indonesia by Kompas Gramedia (2012). Mr. Perez is course director of The Speed Traders Workshop, How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (Hong Kong, Sao Paulo, Seoul, Kuala Lumpur, Warsaw, Kiev, New York, Singapore, Beijing, Shanghai). He contributes to China’s International Finance News and Sina Finance and The New York Times.

Mr. Perez (http://www.facebook.com/AmericasUltimateNetworker) has been interviewed on CNBC, FOX BUSINESS, Bloomberg TV, CNN en Español, Sina Finance, BNN’s Business Day, CCTV China, Bankier.pl, TheStreet.com, Leaderonomics, GPW Media, Channel NewsAsia’s Business Tonight and Cents & Sensibilities. In addition, Mr. Perez has been globally featured on FXFactor, Columbia Business, OpenMarkets, Sohu, News.Sina.com, Yicai, eastmoney, Caijing, ETF88.com, 360doc, AH Radio, CNFOL.com, CITICS Futures, Tongxin Securities, ZhiCheng.com, CBNweek.com, Caixin, Futures Daily, Xinhua, CBN Newswire, Chinese Financial News, ifeng.com, International Finance News, hexun.com, Finance.QQ.com, Finance.Sina.com, The Korea Times, The Korea Herald, The Star, The Malaysian Insider, BMF 89.9, iMoney Hong Kong, CNBC, Bloomberg Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News, Valor Econômico, FIXGlobal Trading, TODAY Online, Oriental Daily News and Business Times.

Mr. Perez (http://www.weibo.com/edgarperez) was a vice president at Citigroup, a senior consultant at IBM, and a strategy consultant at McKinsey & Co., the American global management consulting firm that focuses on solving issues of concern to senior management; the firm serves as an adviser to businesses, governments, and institutions around the world. McKinsey is widely considered to be the most prestigious management consulting firm in the world, with over 100 offices in 60 countries.

Mr. Perez (http://en.wikipedia.org/wiki/Edgar_Perez) has an undergraduate degree from Universidad Nacional de Ingeniería, Lima, Peru (1994), a Master of Administration from Universidad ESAN, Lima, Peru (1997) and a Master of Business Administration from Columbia Business School, New York, with a dual major in Finance and Management (2002). He belongs to the Beta Gamma Sigma honor society. Mr. Perez (https://twitter.com/mredgarperez) resides in the New York City metro area and is an accomplished salsa and hustle dancer.

Media Contact:
Julia Petrova
Media Relations Coordinator
Knightmare on Wall Street
+1-414-FORUMS0
info@knightmareonwallstreet.com
http://www.knightmareonwallstreet.com

The High-Frequency Trading Conference Every Trader and Quant in London is Talking About, December 5

Golden Networking

Golden Networking hosts the World’s Most Influential High-Frequency Trading Conference Series, High Frequency Trading Leaders Forum 2013 London “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, December 5 (www.HFTLeadersForum).

HFTLF 2013 - London - Golden Networking

New York City, NY, USA (November 7, 2013) — Which is the high-frequency trading conference every trader and quant in London is talking about? High-Frequency Trading Leaders Forum 2013,”Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges” (http://www.HFT-Leaders-Forum.com), organized by Golden Networking, will bring the latest on speed trading to one of the world’s financial capitals, London, on December 5.

High-Frequency Trading Leaders Forum 2013 (http://www.High-Frequency-Trading-Conference.com) “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges” will bring insights for investors and speed traders, who need to protect and refine their competitive advantage in a world dominated by algorithmic and high-frequency trading. Recognized practitioners, regulators, experts, and strategists will return to High-Frequency Trading Leaders Forum 2013 London to provide hundreds of attendees with the information they are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.

Advanced computerized trading platforms and market gateways are becoming standard tools of most types of traders, including high-frequency traders. Broker-dealers now compete on routing order flow directly, in the fastest and most efficient manner, to the line handler where it undergoes a strict set of Risk Filters before hitting the execution venue(s). Ultra Low Latency Direct Market Access (ULLDMA) is a hot topic amongst Brokers and Technology vendors such as Goldman Sachs, Credit Suisse, and UBS. Typically, ULLDMA systems can currently handle high amounts of volume and boast round-trip order execution speeds (from hitting “transmit order” to receiving an acknowledgment) of 10 milliseconds or less.

Such performance is achieved with the use of hardware acceleration or even full-hardware processing of incoming market data, in association with high-speed communication protocols, such as 10 Gigabit Ethernet or PCI Express. More specifically, some companies provide full-hardware appliances based on FPGA technology to obtain sub-microsecond end-to-end market data processing. High-Frequency Trading Leaders Forum 2013 will provide traders, quants and technologists with the most up-to-date review of where this ever-changing industry stands and is going through an inspiring keynote speeches and thought-provoking panels with leaders in the field.

With high-frequency trading the subject of great controversy and debate, many regulations will be bound to change. How will regulations impact the way traders are capturing alpha? Would there be restrictions that can possibly harm algorithmic trading? How the economic and political landscape might impact the pace and severity of these changes?

Finally, there has been a dramatic shift in how instruments are traded in the market. With high frequency trading able to detect price discrepancies in microseconds, aided by technology, regulators have grown increasingly concerned about its impact in market structure and fairness. What is the outlook for the markets when all participants engage in the arms race of super smart algorithms? Where will institutional and retail investors find opportunities? Conversely, could we imagine a world without high-frequency trading?

High Frequency Trading Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.com), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by calling +1-414-FORUMS0 or sending an email to information@goldennetworking.com.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net

Knightmare on Wall Street, Thought-provoking and Action-filled Read for The Asian Century Report

Mr. Edgar Perez Logo

Edgar Perez, Author, The Speed Traders, and Course Director, The Speed Traders Workshop 2012, Introduces Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, a Behind-the-scenes Look at Knight Capital’s 17 years of Tumultuous Existence as an Independent Company.

2

New York City, NY, USA (September 3, 2013) — Popular Asian-news blog The Asian Century Report (http://www.TheAsianCenturyReport.com) reviewed Edgar Perez’s Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets (http://www.KnightmareonWallStreet.com), and commended the author’s “talent for distilling multiple threads of events and stitching them together into a seemingly singular narrative.” Perez, who was recently interview on Bloomberg TV by Market Makers anchors Stephanie Ruhle and Erik Shatzker, “presents the [Knight Capital] story from different angles and captures the reader’s attention despite using one or two financial terms hard to be immediately understood by the layperson.”

Knight Capital announced on August 1, 2012, it had sent an unprecedented number of erroneous orders into the market due to an error in installing new software. Knight Capital announced later a staggering loss of $440 million. What followed after this shocking announcement were several rounds of desperate conversations with a number of vulture players who had smelled opportunity and were readying themselves to pick up bargain-priced pieces. On August 6, 2012, Joyce confirmed that Knight Capital had struck a deal with Jefferies, TD Ameritrade, Blackstone, GETCO, Stephens, and Stifel Financial, staving off collapse days after the trading mishap. While Knight Capital was back in the game, its limping recovery quickly prompted hungry competitors to bid for the entire company. On December 19, 2012, the board decided to accept an acquisition proposal from GETCO rather than Virtu Financial.

The Asian Century Report drew a parallel between the reactions of Chinese and American regulators to incidents that dramatically impacted their respective equity markets. In the case of China, $3.8 billion of erroneous purchase orders on August 16, 2013, led to Everbright Securities, the country’s seventh-largest brokerage by market value, to be barred from most proprietary trading, lifetime professional bans for four senior managers and the resignation of the president; the China Securities Regulatory Commission also imposed $85 million in fines and confiscation of any illegal gains. In the case pertaining to the U.S. equity markets, Knight Capital’s own $7 billion erroneous position accumulated in the first 28 minutes of trading of August 1, 2013, still goes unpunished by the Securities and Exchange Commission (SEC).

In the final chapter, The Asian Century Report continues, “Perez reviews the immediate consequences of Knight’s acquisition by GETCO, a fierce competitor that participated in its rescue. There is no place for two CEOs, so [CEO Thomas] Joyce leaves, not without pocketing a $7.5 million payout. How could he take that much money when his shareholders lost almost half a billion dollars? There must be something American regulators need to learn from China; drastic and expeditious action is one of them. It is a disturbing end to a thought-provoking and action-filled read.”

The author (http://www.MrEdgarPerez.com) is widely regarded as the preeminent global expert in the specialized area of high-frequency trading. Perez has been interviewed on Sina Finance, CNBC Squawk On The Street, Bloomberg TV’s Market Makers, CNN en Español’s Dinero, FOX Business’s Countdown to the Closing Bell, CNBC Worldwide Exchange, CNBC Cash Flow, CNBC Squawk Box, BNN Business Day, CCTV China, Bankier.pl, TheStreet.com, Leaderonomics, GPW Media, Channel NewsAsia Business Tonight and Cents & Sensibilities. In addition, Perez has been globally featured on FXFactor, Columbia Business, OpenMarkets, Sohu, News.Sina.com, Yicai, eastmoney, Caijing, ETF88.com, 360doc, AH Radio, CNFOL.com, CITICS Futures, Tongxin Securities, ZhiCheng.com, CBNweek.com, Caixin, Futures Daily, Xinhua, CBN Newswire, Chinese Financial News, ifeng.com, International Finance News, hexun.com, Finance.QQ.com, Finance.Sina.com, The Korea Times, The Korea Herald, The Star, The Malaysian Insider, BMF 89.9, iMoney Hong Kong, CNBC, Bloomberg Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News, Valor Econômico, FIXGlobal Trading, TODAY Online, Oriental Daily News and Business Times.

Perez has been engaged to present at the Council on Foreign Relations, Vadym Hetman Kyiv National Economic University (Kiev), Quant Investment & HFT Summit APAC 2012 (Shanghai), U.S. Securities and Exchange Commission (Washington DC), CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University, University of International Business and Economics (Beijing), Hult International Business School (London and Shanghai) and Pace University (New York), among other public and private institutions. In addition, Perez has spoken at a number of global conferences, including Emerging Markets Investments Summit 2013 (Warsaw), CME Group’s Global Financial Leadership Conference 2012 (Naples Beach), Harvard Business School’s Venture Capital & Private Equity Conference (Boston), High-Frequency Trading Leaders Forum (New York, Chicago, London), MIT Sloan Investment Management Conference (Cambridge), Institutional Investor’s Global Growth Markets Forum (London), Technical Analysis Society (Singapore), TradeTech Asia (Singapore), FIXGlobal Face2Face (Seoul) and Private Equity Convention Russia, CIS & Eurasia (London).

Perez was a vice president at Citigroup, a senior consultant at IBM, and a strategy consultant at McKinsey & Co. in New York City. Perez has an undergraduate degree from Universidad Nacional de Ingeniería, Lima, Peru (1994), a Master of Administration from Universidad ESAN, Lima, Peru (1997) and a Master of Business Administration from Columbia Business School, New York, with a dual major in Finance and Management (2002). He belongs to the Beta Gamma Sigma honor society. Perez resides in the New York City area and is an accomplished salsa and hustle dancer.

Media Contact:
Julia Petrova
Media Relations Coordinator
Knightmare on Wall Street
516-761-4712
info@knightmareonwallstreet.com
http://www.knightmareonwallstreet.com

SEC’s Leadership Needed After Nasdaq’s Glitch, Edgar Perez to CNBCs Kelly Evans and Carl Quintanilla

Mr. Edgar Perez Logo

Edgar Perez, Author, The Speed Traders, and Course Director, The Speed Traders Workshop, Introduces Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, a Behind-the-scenes Look at Knight Capital’s 17 years of Tumultuous Existence as an Independent Company.

7

New York City, NY, USA (August 24, 2013) — “Market participants appreciate visible leadership that goes beyond statements sent though by a press office. Both individual and institutional investors would have felt more comfortable yesterday if they had seen the SEC chairman, Mary Jo White, discussing the NASDAQ issue and the steps the SEC was taking to monitor their efforts to resume trading,” said Edgar Perez, author of The Speed Traders (http://www.TheSpeedTraders.com) and Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets (http://www.KnightmareonWallStreet.com), to CNBC’s Squawk On The Street’s anchors Kelly Evans and Carl Quintanilla today. The full interview can be accessed at http://video.cnbc.com/gallery/?play=1&video=3000193177.

As informed by NASDAQ yesterday, price quotes were not being disseminated by the Securities Information Processor (SIP) for three hours. There was a connectivity issue, which led to degradation in the ability of the SIP to disseminate consolidated quotes and trades. After the cause of the issue, The Flash Freeze, was identified and addressed, trading resumed at 3:25PM. While NASDAQ has promised to work with other exchanges that are members of the SIP to investigate the issues, their time to self-police has passed.

Readers will discover in Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, a thrilling minute-by-minute account of the terrifying hours following Knight Capital’s August 1, 2012 trading debacle, with news-breaking research regarding the firm’s 17 years of tumultuous existence as an independent company. Knightmare on Wall Street provides a fascinating account of what it took to elevate the firm to the cusp of the retail investing revolution of the late 1990s, to struggle through booms and busts, and to bring the firm down, to end up ultimately being ignominiously bought up by a competitor.

At 9:30 A.M. on August 1, 2012, right after the markets opened for the day, Knight Capital began issuing an unprecedented number of erroneous orders into the market, due to an error in installing new software. No rogue trader or regulatory change; operational risk was passing the bill to Knight Capital and becoming the biggest risk in the financial markets. Knight Capital announced later a staggering loss of $440 million. What followed after this shocking announcement were several rounds of desperate conversations with a number of vulture players who had smelled opportunity and were readying themselves to pick up bargain-priced pieces. On August 6, 2012, Joyce confirmed that Knight Capital had struck a deal with Jefferies, TD Ameritrade, Blackstone, GETCO, Stephens, and Stifel Financial, staving off collapse days after the trading mishap.

Perez was a vice president at Citigroup, a senior consultant at IBM, and a strategy consultant at McKinsey & Co. in New York City. Perez has an undergraduate degree from Universidad Nacional de Ingeniería, Lima, Peru (1994), a Master of Administration from Universidad ESAN, Lima, Peru (1997) and a Master of Business Administration from Columbia Business School, New York, with a dual major in Finance and Management (2002). He belongs to the Beta Gamma Sigma honor society. Perez resides in the New York City area and is an accomplished salsa and hustle dancer.

Media Contact:
Julia Petrova
Media Relations Coordinator
Knightmare on Wall Street
516-761-4712
info@knightmareonwallstreet.com
http://www.knightmareonwallstreet.com

New SEC Regulations after Knight Capital at High-frequency Trading Leaders Forum 2013 in New York

Golden Networking

Golden Networking brings Tech2Trade Expo 2013 (www.Tech2TradeExpo.com), World’s Most Influential Alternative Investments Conference Series, including High Frequency Trading Leaders Forum 2013, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges,” New York City, London, Chicago, Singapore and Frankfurt (www.High-Frequency-Trading-Conference.com).

HFT Conference

New York City, NY, USA (July 23, 2013) — According to SearchCompliance, the speed and complexity of software designed for high-frequency stock trading propelled Knight Capital Group’s success in recent years, but those same properties drove the firm to the brink of bankruptcy. When New York Stock Exchange trading opened the morning of Aug. 1, 2012, a technology breakdown in Knight Capital’s newly installed trading software caused a deluge of erroneous stock orders that severely disrupted the market. The new software had been deployed the day before, the company said, and it took about half an hour to halt the erroneous orders once the problem was discovered.

After Knight Capital Group lost $440 million in about 45 minutes of trading that day, regulators redoubled efforts to limit stock exchange damages inflicted by faulty technology. Specifically, they launched a review of the testing and control requirements needed to prevent highly complicated and interconnected IT systems from causing market upheaval when errors occur.

Lessons to be after the Knight Capital incident are at the heart of the keynote speech Edgar Perez, author of The Speed Traders and the forthcoming Knightmare on Wall Street, will give to attendees at High Frequency Trading Leaders Forum 2013 New York City (http://www.HFTLeadersForum.com), July 30th, part of Tech2Trade Expo 2013 New York City (http://www.Tech2TradeExpo.com).

Perez is widely regarded as the preeminent global expert in the specialized area of high-frequency trading. He is author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, published in English by McGraw-Hill Inc. (2011), published in Mandarin by China Financial Publishing House (2012), and Investasi Super Kilat: Pandangan Orang dalam tentang Fenomena Baru Frekuensi Tinggi yang Mentransformasi Dunia Investasi, published in Bahasa Indonesia by Kompas Gramedia (2012).

Perez is course director of The Speed Traders Workshop 2012, How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (Hong Kong, Sao Paulo, Seoul, Kuala Lumpur, Warsaw, Kiev, New York, Singapore, Beijing, Shanghai) and was Adjunct Professor at the Polytechnic Institute of New York University, where he taught Algorithmic Trading and High-Frequency Finance. He contributes to The New York Times and China’s International Finance News and Sina Finance.

Perez has been engaged to present at the Council on Foreign Relations, Vadym Hetman Kyiv National Economic University (Kiev), Quant Investment & HFT Summit APAC 2012 (Shanghai), U.S. Securities and Exchange Commission (Washington DC), CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University, University of International Business and Economics (Beijing), Hult International Business School (London and Shanghai) and Pace University (New York), among other public and private institutions. In addition, Perez has spoken at a number of global conferences, including Emerging Markets Investments Summit 2013 (Warsaw), CME Group’s Global Financial Leadership Conference 2012 (Naples Beach), Harvard Business School’s Venture Capital & Private Equity Conference (Boston), High-Frequency Trading Leaders Forum (New York, Chicago, London), MIT Sloan Investment Management Conference (Cambridge), Institutional Investor’s Global Growth Markets Forum (London), Technical Analysis Society (Singapore), TradeTech Asia (Singapore), FIXGlobal Face2Face (Seoul) and Private Equity Convention Russia, CIS & Eurasia (London).

Perez was a vice president at Citigroup, a senior consultant at IBM, and a strategy consultant at McKinsey & Co. in New York City. Perez has an undergraduate degree from Universidad Nacional de Ingeniería, Lima, Peru (1994), a Master of Administration from Universidad ESAN, Lima, Peru (1997) and a Master of Business Administration from Columbia Business School, New York, with a dual major in Finance and Management (2002). He belongs to the Beta Gamma Sigma honor society. Perez resides in the New York City area and is an accomplished salsa and hustle dancer.

Golden Networking’s High Frequency Trading Leaders Forum 2013 will examine the speed trading industry from various angles, in an opened and unbiased environment highly conducive to networking. Topics to be discussed at High Frequency Trading Leaders Forum 2013 will include:

– Low Latency: How can Ultra-Low Latency be Achieved for High-Frequency Trading?
– Emerging Markets: How will Emerging Markets from Brazil to China Affect the Scope of High-frequency Trading?
– Robotic Markets: As High-frequency Trading Embraces Robotic Markets Worldwide, How Will Participants be Able to Find new Opportunities to Sustain Alpha Creation?
– Regulatory Impact: With High-frequency Trading in the Spotlight, how will New Regulations Change the Industry?
– The Future of HFT: How will High-frequency Trading Evolve in Ever-changing Technology and Regulatory Environments?

Tech2Trade Expo 2013, to be held in New York City, London, Chicago, Singapore and Frankfurt, is the world’s most influential alternative investments forum for the hedge fund, high-frequency trading and derivatives communities. With dozens of practitioners, experts and regulators speaking in our programs, Tech2Trade Expo 2013 provides hundreds of investors, traders and portfolio managers with the key lessons, proven recipes and penetrating insights they are looking for to capture alpha in up and down markets.

High Frequency Trading Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to download our Information Package or contact Golden Networking directly by calling +1-414-FORUMS0 or sending an email to information@goldennetworking.net.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net