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) -- 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.
Edgar
Perez, the celebrated author of The Speed Traders
(http://www.TheSpeedTraders.com)
and global speaker on the topics of high-frequency trading (HFT) and
investing, brings a thrilling minute-by-minute account of the
terrifying hours following the August 1, 2012 trading debacle, with
news-breaking research regarding Knight Capital's 17 years of
tumultuous existence as an independent company with 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.
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.
Perez
(http://www.MrEdgarPerez.com)
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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