Edgar
Perez, Author, 'The Speed Traders' and 'Knightmare on Wall Street',
and Course Director, The Speed Traders Workshop 2012, Reveals Passion
for Dance in 'Up Close & Personal with Edgar Perez' with The
Star.
New
York City, NY, USA (August 13, 2012) -- "The combined forces
of speed and technology are turning the stock market into a different
animal from the days of our fathers and mothers with small retail
players being the casualties of the sweeping changes, particularly in
the West. This is the dark side of technology which cannot be ignored
but which must be managed by regulators." That's how journalist
Thean Lee Cheng starts her profile of Edgar Perez, 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, and Mandarin
by China Financial Publishing House, 2012) for The Star, Malaysia’s
largest newspaper in terms of circulation. The profile is available
online at
http://biz.thestar.com.my/news/story.asp?file=/2012/5/19/business/11272484.
Perez
revealed a passion for salsa and hustle dancing. While salsa needs to
no further introduction, hustle dancing might; it refers to the
unique partner dance done in ballrooms and nightclubs to disco music,
and it is also commonly referred as 'New York Hustle' or 'Latin
Hustle'. In fact, Perez has been known to frequent some of the most
popular disco parties in New York City; a video of Perez dancing to
the hustle has been uploaded to his Facebook page,
http://www.facebook.com/AmericasUltimateNetworker.
Cheng
went onto inquiring about Perez's thoughts on speed trading.
"High-frequency trading is computer executed trading. Humans are
slow by comparison, when identifying the different markets and
location and products. It is a field for technology, which is fluid,
fast and is able to complete a deal in milliseconds. Let us assume
you are interested to sell 500 IBM shares. You are only interested to
get your cash immediately. However, selling IBM is not a unique
event. Its stock is a component of exchange-traded funds, and is a
component of Standard & Poor's indexes. There are also
derivatives which rely on IBM stocks. If I sell IBM, there will be
pressure on price, which affects the options and derivatives markets.
All these changes take time to compute. Computer can detect the
impact of the sale and is able to calculate the next price of the
derivatives and options compared with the current price. This happens
even before the price is adjusted."
"It
is computers that accelerate the change, be it good or bad. Computers
are rationale but people are emotional. Out of emotions, humans may
sell a big order, but it is computers that accelerate the decline,
says Perez. The impact of this is tremendous on regulators. They are
struggling to regulate the market and facing a huge challenge in this
new and changing financial system, says Perez. This was clearly seen
in the flash crash of May 2010 when the US stock market lost nearly
1,000 points in 20 minutes before it recovered. There were no circuit
breakers then. It took the regulators nearly five months to analyze
the data and generate a solution, he recalls."
Perez's
first book, The Speed Traders. "a clear and informative read
that can be useful to both seasoned industry professionals and those
who are only exploring the financial industry", has confirmed
him as the preeminent global expert in the specialized area of
high-frequency trading. Perez has led The Speed Traders Workshop
2012, How High Frequency Traders Leverage Profitable Strategies to
Find Alpha in Equities, Options, Futures and FX,
http://www.TheSpeedTradersWorkshop.com,
(Hong Kong, Sao Paulo, Seoul, Kuala Lumpur, Warsaw, Kiev, New York,
Singapore, Beijing, Shanghai, Jakarta, London, Mexico City, Moscow,
Ho Chi Minh, New York, Dubai and Chicago), and was Adjunct Professor
at the Polytechnic Institute of New York University, where he taught
Algorithmic Trading and High-Frequency Finance. He contributes
regularly to China's International Finance News.
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 featured on 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, 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 to the 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 (Shanghai) and Pace
University (New York), among other public and private institutions.
In addition, Perez has spoken at a number of global conferences,
including Harvard Business School's Venture Capital & Private
Equity Conference (Boston), High-Frequency Trading Leaders Forum (New
York, Chicago), 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.
Finally,
Perez revealed the names of three people he admires: Mother Theresa,
Henry Kravis (who also attended his alma mater, Columbia Business
School), and Bill Gates. While these outstanding individuals are not
in the high-frequency trading world, no doubt they have provided
Perez an inspiration as he embarks on the path to be recognized as
"author, global entrepreneur and consultant, go-getter".
Media
Contact:
Julia
Petrova
Media
Relations Coordinator
The
Speed Traders
516-761-4712
