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 2, 2013) -- "Ever since the
Knight Capital trading disaster broke in August 1, 2012, investors
and traders have been morbidly fascinated by the incident. How had so
sophisticated a company managed to burn though $440 million in a bit
more than half an hour? How could the firm endure the bleeding for
what amounted to years in electronic trading? Some of us could
imagine ourselves among the members of the management team in those
tragic minutes; others found an unimaginable relief in watching the
financial tragedy unfolds in front of their eyes and not inside their
own firms." That's how UltraHighFrequencyTrading.com kicks off
its review of Edgar Perez's latest title, Knightmare on Wall Street,
The Rise and Fall of Knight Capital and the Biggest Risk for
Financial Markets, now exclusively available at
http://www.KnightmareonWallStreet.com.
The
editors at UltraHighFrequencyTrading.com
praise Knightmare on Wall Street's "superlative account of the
coming-of-age of high frequency trading, and the definitive chronicle
of Knight Capital's impressive ascendancy and lightning toppling."
They continue: "Perez takes the reader on a riveting journey
while providing a record of verbatim verbal exchanges between the
major players, as their personalities, decisions, ambitions and
indecisions send ripples throughout the financial markets. Heroes,
villains and human fallibility populate this true story as captured
by the author's keen insight and imaginative presentation."
"Perez's
story holds us not because of the absorbing details of the incident,
but because of its human dimension. 'Knightmare on Wall Street'
begins by reconstructing the events of that grim morning during which
the firm begun spewing orders and scaring traders on the floor of the
New York Stock Exchange on the day of the launch of the Retail
Liquidity Program. Top managers, including Steven Sadoff and Michael
Tobin, failed to act decisively in the absence of their CEO. Perez
clearly does not believe that they were ultimate responsible in the
extraordinary failure. But in Perez's telling, they should have known
better, much better."
"Perez
takes the reader on a riveting ride through trading rooms where the
personalities of the major players are revealed. 'Knightmare on Wall
Street' is certain to become a seminal classic among the pertinent
Wall Street literature, alongside such heavyweight tomes as
Barbarians at the Gate, Liar's Poker, When Genius Failed and Den of
Thieves. It is not merely a compelling and essential text for anyone
who wishes to comprehend the climate of algorithmic trading, or
anyone who wants to gain insight into the future evolution of
financial markets and its discontents. This is a highly recommended
read for anyone desiring the inside scoop about today's electronic
and high-frequency trading."
Perez
is widely regarded as the preeminent global expert in the specialized
area of high-frequency trading. He is author of The Speed Traders
(http://www.thespeedtraders.com),
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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