Edgar
Perez, Author, The Speed Traders, and Course Director, The Speed
Traders Workshop, 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 24, 2013) -- Knightmare on Wall
Street, The Rise and Fall of Knight Capital and the Biggest Risk for
Financial Markets, is the new book by Edgar Perez, the celebrated
author of The Speed Traders. As executives and professionals in the
finance world get ready for their Labor Day weekend vacation,
immediate shipping is now available for Knightmare on Wall Street at
http://www.KnightmareonWallStreet.com.
Readers
will discover 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
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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