Edgar
Perez, former McKinsey and IBM consultant, is a global expert, author
of The Speed Traders, Knightmare on Wall Street, and the course
director of The Speed Traders Workshop, "How Banks, Hedge and
Mutual Funds and Brokers Battle Markets 'RIGGED' by Wall Street's
'Flash Boys', High-frequency Trading, Exchanges and Dark Pools",
in New York City, Washington DC, Boston, Munich, London, Dubai,
Brussels, Tokyo, Beijing and Shanghai.
New
York, NY, USA (April 28, 2014) -- As of 2009, some studies
suggested HFT firms accounted for 60-73% of all US equity trading
volume, with that number falling to approximately 50% in 2012.
High-frequency traders move in and out of short-term positions aiming
to capture sometimes just a fraction of a cent in profit on every
trade. HFT firms do not employ significant leverage, accumulate
positions or hold their portfolios overnight. As a result, HFT has a
potential Sharpe ratio (a measure of risk and reward) thousands of
times higher than traditional buy-and-hold strategies. High-frequency
traders typically compete against other HFTs, rather than long-term
investors. HFT firms make up the low margins with incredible high
volumes of transactions, frequently numbering in the millions.
HFT
may cause new types of serious risks and dangers to the financial
system. Algorithmic and HFT were both found to have contributed to
volatility in the May 6, 2010 Flash Crash, when high-frequency
liquidity providers rapidly withdrew from the market. Several
European countries have proposed curtailing or banning HFT due to
concerns about volatility. Other complaints against HFT include the
argument that some HFT firms scrape profits from investors when index
funds rebalance their portfolios. Whether that indeed is the case
will be explained by author Edgar Perez at The Speed Traders
Workshop, "How Banks, Hedge and Mutual Funds and Brokers Battle
Markets 'RIGGED' by Wall Street's 'Flash Boys', High-frequency
Trading, Exchanges and Dark Pools"
(http://www.thespeedtradersworkshop.com).
The
Speed Traders Workshop is the first and most comprehensive initiation
to the world of high-frequency trading., opens the door to the
secretive world of computerized low-latency trading, the most
controversial form of investing today; in the name of protecting the
algorithms they have spent so much time perfecting, speed traders
almost never talk to the press and try to disclose as little as
possible about how they operate. Further information about this
workshop can be found at here.
The
Speed Traders Workshop, to be held in New York City, Washington DC,
Boston, Munich, London, Dubai, Brussels, Tokyo, Beijing and Shanghai,
covers the latest research currently available and reveals how
high-frequency trading players are operating in global markets and
driving the development of electronic trading at breakneck speeds
from the U.S. and Europe to Japan, India, and Brazil. The "flash
crash", the suspended BATS IPO, the botched Facebook IPO, Knight
Capital's trading malfunction and NASDAQ's Flash Freeze are just a
few of the milestones in the history of high-frequency trading that
will be dissected with participants.
Knightmare
on Wall Street, the fascinating story of Knight Capital put together
by course director Edgar Perez, was the most favorably reviewed
Kindle edition book on Amazon in 2013, with an average rating of 5
out of five stars. Knight Capital, founded by Kenneth Pasternak and
Walter Raquet in 1995, had seen its fortunes change as U.S.
regulators made a series of changes in the structure of financial
markets and computers were progressively expanding their share of
trading. The Flash Crash, the infamous 1,000 point drop of the DJIA
on May 6, 2010 (the largest one-day point decline in history),
illustrated how market structure problems could almost
instantaneously cascade from one market participant to the rest.
Mr.
Perez is widely regarded as the preeminent global expert and speaker
in the specialized areas of algorithmic and high-frequency trading.
He is also 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, Chinese and Bahasa Indonesia. He
contributes to The New York Times, UltraHighFrequencyTrading.com and
China's International Finance News and Sina Finance.
Media
Contact:
Julia
Petrova
Media
Relations Coordinator
Knightmare
on Wall Street
+1-414-FORUMS0
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