Edgar
Perez, Author, The Speed Traders, and Course Director, The Speed
Traders Workshop, 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 (September 3, 2013) -- Mr. Edgar Perez's
latest book 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,
has been featured by Columbia Alumni Association's Career News; the
association is Columbia University's official outreach to its
thousands of alumni around the world. Mr. Perez received a Master of
Business Administration from Columbia Business School, New York, with
a dual major in Finance and Management, in 2002; as such, he belongs
to the Beta Gamma Sigma honor society.
Knightmare
on Wall Street is 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. On August 1, 2012,
Knight Capital announced a staggering loss of $440 million, after
issuing an unprecedented number of erroneous orders into the market,
at 9:30 A.M., due to an error in installing new software. 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, CEO Thomas 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. While Knight Capital was back in the game, its
limping recovery quickly prompted hungry competitors to bid for the
entire company. On December 19, 2012, the board decided to accept an
acquisition proposal from GETCO rather than Virtu Financial. For
GETCO, acquiring Knight Capital represented a gigantic fast forward
step. For Knight Capital, it was the end of its wild ride as an
independent entity.
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. Perez has been
interviewed on Sina Finance, CNBC Squawk On The Street, Bloomberg
TV's Market Makers, CNN en Español's Dinero, FOX Business's
Countdown to the Closing Bell, CNBC Worldwide Exchange, 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.
Media
Contact:
Julia
Petrova
Media
Relations Coordinator
Knightmare
on Wall Street
516-761-4712
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