Tag Archives: bats

Business

Smart Regulation Crucial for Growth of High-frequency Trading in Singapore, says Expert Edgar Perez

Leave a comment

Edgar Perez, former McKinsey and IBM consultant, is a global expert, author of The Speed Traders, Knightmare on Wall Street, and the course director of The Speed Traders Workshop 2014 Singapore, “How Banks, Hedge and Mutual Funds and Brokers Battle Markets ‘RIGGED’ by Wall Street’s ‘Flash Boys’, High-frequency Trading, Exchanges and Dark Pools”.

New York, NY, USA (September 16, 2014) — Wall Street’s biggest high-frequency trading spokespeople are taking more fire lately from proactive regulators seeking to eliminate “abuses” in the controversial HFT markets. For instance, one HFT group that executes stock orders on high-speed platforms is trying to enlist experienced Washington players to defend its practices in the corridors of power.

Regulators are circling the wagons indeed. BATS Global Markets is said to be nearing a regulatory settlement over allegations it unfairly favored certain high-speed customers. This follows the abrupt departure last month of its CEO, Bill O’Brien, of CNBC fame. At the same time, New York Attorney General Eric Schneiderman and the SEC are pressing forward as some of the biggest dark-pool operators, including Goldman Sachs, Morgan Stanley, Credit Suisse and Barclays, are caught in the crossfire.

According to Mr. Edgar Perez, sophisticated regulation is necessary in Asia to avoid controversies as the ones mentioned above. Mr. Perez is the course director of The Speed Traders Workshop 2014 Singapore, “How Banks, Hedge and Mutual Funds and Brokers Battle Markets ‘RIGGED’ by Wall Street’s ‘Flash Boys’, High-frequency Trading, Exchanges and Dark Pools” (http://www.thespeedtradersworkshop.com). This seminar covers the latest research currently available and reveals how high-frequency trading players are operating in global markets and driving the development of electronic trading at breakneck speeds from the U.S. and Europe to Japan, India, and Brazil. The “flash crash”, the suspended BATS IPO, the botched Facebook IPO, Knight Capital’s trading malfunction and Nasdaq’s Flash Freeze are just a few of the milestones in the history of high-frequency trading that will be dissected with participants.

Knightmare on Wall Street, the fascinating story of Knight Capital put together by course director Edgar Perez, was the most favorably reviewed Kindle edition book on Amazon in 2013, with an average rating of 5 out of five stars. Knight Capital 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 notorious 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.

Mr. Perez is widely regarded as the preeminent global expert and speaker in the specialized areas of algorithmic and high-frequency trading. He is also 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, Chinese and Bahasa Indonesia. He contributes to The New York Times, UltraHighFrequencyTrading.com and China’s International Finance News and Sina Finance.

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

Business

Lessons to be Learned from Flash Crash, BATS, NASDAQ & Knight Capital at HFT Conference in New York

Leave a comment

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).

New York City, NY, USA (July 18, 2013) — Shell-shocked from the worst financial crisis since the Great Depression, retail investors have been welcomed to the post-2008 world by a string of structural hiccups that has further eroded confidence in the safety and soundness of the increasingly-complex capital markets. According to FOX Business, with the Flash Crash and the Facebook fiasco still within view, the latest challenge to investor confidence came last August in the form of a software glitch at Knight Capital Group that caused the market maker to take a stunning pretax loss of $461 million and launch a frantic search for a lifeline. The aftermath has investing professionals concerned about the ongoing retreat of retail investors and grasping for potential solutions to restore confidence in the system.

“We’ve seen enough of these computer mistakes since the Flash Crash that it makes you wonder the impact of computer trading on the market,” Robert Steven Kaplan, a professor at Harvard and former vice chairman at Goldman Sachs (GS), said. Darrell Duffie, a finance professor at Stanford, also said the Knight Capital incident could “raise concerns that the May 6 Flash Crash risks still exist.”

If nothing else, the Knight Capital trading glitch underscores the complexity of today’s capital markets, which have become increasingly dominated by complicated trading algorithms. “Consumers don’t understand markets any longer so they increasingly distrust our stock markets and are withdrawing,” David Weild, a senior advisor at Grant Thornton and former vice chairman at the Nasdaq Stock Market, wrote. “Deregulation stimulated competition but in extremis: The computer arms race that ensued, enabled by the SEC, has introduced a level of complexity and behaviors that is undermining investor confidence.”

Lessons to be learned from Flash Crash, BATS, NASDAQ and Knight Capital incidents 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 interviewed on 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.

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