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 2014 Singapore, "How
Banks, Hedge and Mutual Funds and Brokers Battle Markets 'RIGGED' by
Wall Street's 'Flash Boys', High-frequency Trading, Exchanges and
Dark Pools".
New
York, NY, USA (September 16, 2014) -- China's biggest e-commerce
company plans to increase the top end of a marketed price range to
just below $70, from $66 previously. According to Reuters, Alibaba
worried about Nasdaq's ability to handle their $21 billion IPO, since
the exchange botched Facebook's market debut two years ago. Nasdaq
tried to persuade Alibaba that it had fixed the problem but it is not
clear whether they were swayed. One source said that Alibaba
eventually was satisfied that Nasdaq had solved the issue and chose
NYSE because its overall pitch was better. Another said Nasdaq
executives believed that Alibaba decided that the possibility of a
botched IPO, however small, outweighed the possible benefits of being
in the index.
Nasdaq
systems buckled under the tremendous volume of orders on the first
day of trading in Facebook's shares in 2012, leading to hours of
delay. In its current presentation to Alibaba, Nasdaq detailed the
steps it had taken to prevent another Facebook-style glitch said. The
exchange has said it responded to Facebook by putting extra
safeguards in place, creating new positions within the company to
improve communications with the industry and regulators when errors
occur, and establishing an engineering team to monitor and analyze
daily performance.
At
the end, Alibaba chose NYSE; according to Mr. Edgar Perez, course
director of The Speed Traders Workshop 2014 Singapore, "How
Banks, Hedge and Mutual Funds and Brokers Battle Markets 'RIGGED' by
Wall Street's 'Flash Boys', High-frequency Trading, Exchanges and
Dark Pools", that is the reason why Alibaba shouldn't worry
about high-frequency trading, as NYSE systems have demonstrated
time-tested resilience in the IPO process.
The
Speed Traders Workshop 2014 Singapore
(http://www.thespeedtradersworkshop.com),
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
No comments:
Post a Comment