Edgar
Perez, Author, The Speed Traders, and Course Director, The Speed
Traders Workshop 2012, Proudly 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.
New
York City, NY, USA (August 6, 2013) -- Edgar Perez, the
celebrated author of The Speed Traders, announced the release of
Knightmare on Wall Street, The Rise and Fall of Knight Capital and
the Biggest Risk for Financial Markets, exclusively available at
http://www.KnightmareonWallStreet.com,
book that provides a thrilling minute-by-minute account of the
terrifying hours following their August 1, 2012 trading debacle, with
news-breaking research regarding Knight Capital’s 17 years of
tumultuous existence as an independent company.
"What
a book! Who knew that a trading error at a Jersey City firm could end
up being so interesting? One year ago, the mother of all electronic
trading debacles scared Wall Street, when sophisticated trading
outfit Knight Capital erroneously launched thousands of orders that
led it to accumulate an impossible $7 billion position." That's
how ModernFinanceReport.com kicks off its review of Edgar Perez's
book, with the headline "Trading firms would do well to heed
lessons in testing and crisis management."
The
editors at ModernFinanceReport.com praise Knightmare on Wall Street's
"compelling case about the need for trading firms to rethink
their technology management". They ask, "Does anyone on
Wall Street will ever really learn anything from this debacle? While
all eyes are focused on SEC's new regulations that force companies to
show the impossible, the next trading debacle is probably lurking
around, ready to storm Wall Street at a time when nobody will expect
it."
"The
book goes into great detail when it analyses the backstories of the
main characters involved in the company starting with founders Ken
Pasternak and Walter Raquet, CEO Tom Joyce (known as T.J. since his
Harvard days) and vulture bidders Daniel Coleman from GETCO and
Vincent Viola from Virtu. While other books lose many people early,
Perez whets readers' appetites early by hitting the ground running in
chapter one focusing on the chaos that ensued Knight's infamous
trades at the opening."
"Perez
does a tremendous job in making the histories of all of the people
and companies involved as easy to digest as possible; peg orders are
arguably not an easy concept to explain. Again - excellent book, but
readers have to invest some time slogging through the first 25% of
the book to get back to the action. As soon as Joyce comes back to
the office after surgery and realizes the extent of the challenges
ahead, all hell breaks loose and things start to get very exciting
again."
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, 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 The New York Times and China’s International Finance
News and Sina Finance.
Media
Contact:
Julia
Petrova
Media
Relations Coordinator
Knightmare
on Wall Street
516-761-4712
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