New
York, NY, USA (May 1, 2014) -- The Flash Crash of May 6, 2010,
was a stock market anomaly where the major market indexes dropped by
over 9% (including a roughly 7% decline in a roughly 15 minute span
at approximately 2:45 pm eastern time before a partial rebound.
Temporarily, $1 trillion in market value disappeared. While stock
markets do crash, immediate rebounds are unprecedented. The stocks of
eight major companies in the S&P 500 fell to one cent per share
for a short time, including Accenture, CenterPoint Energy and Exelon;
while other stocks, including Sotheby's, Apple, and Hewlett-Packard,
increased in value to over $100,000 in price. Procter & Gamble in
particular dropped nearly 37% before rebounding, within minutes, back
to near its original levels.
As
we get closer to May 6, the fourth anniversary of this singular
episode, high-frequency traders will reassess their strategies 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),
led by expert Edgar Perez, author of Knightmare on Wall Street
(http://www.knightmareonwallstreet.com).
This seminar will open 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.
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.
Global
scrutiny of high-frequency trading and whether it gives some
investors unfair advantage has intensified amid government probes and
the March 31, 2014 publication of "Flash Boys" by Michael
Lewis. While those examinations have focused mostly on U.S. equity
markets, such as dark pools run by banks and broker-dealers and
exchanges owned by companies including Nasdaq OMX,
IntercontinentalExchange Group's NYSE Euronext and Bats Global
Markets, high-frequency traders are active internationally in
futures, FX and fixed income markets, as they also run multi-asset
strategies.
High-frequency
traders have been called many things, from emerging masters of the
universe and market pioneers to exploiters, computer geeks, and even
predators and thieves. Everyone in the business of investing has an
opinion of speed traders, but how many really understand how they
operate? The shadow people of the investing world, today's
high-frequency traders have decidedly kept a low profile, until now.
Edgar
Perez is widely regarded as the preeminent global expert and speaker
in the specialized areas of algorithmic and high-frequency trading.
He is author of Knightmare on Wall Street, The Rise and Fall of
Knight Capital and the Biggest Risk for Financial Markets (2013), a
minute-by-minute account of the terrifying hours following Knight
Capital's August 1, 2012 trading debacle, 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).
He contributes to The New York Times, UltraHighFrequencyTrading.com
and China's International Finance News and Sina Finance.
Mr.
Perez has been interviewed on CNN's Quest Means Business, CNBC's
Squawk on the Street, Worldwide Exchange, Cash Flow and Squawk Box,
FOX BUSINESS's Countdown to the Closing Bell and After the Bell,
Bloomberg TV's Market Makers, CNN en Español's Dinero, Sina Finance,
BNN's Business Day, CCTV China, Bankier.pl, TheStreet.com,
Leaderonomics, GPW Media, Channel NewsAsia's Business Tonight and
Cents & Sensibilities. In addition, Mr. Perez has been globally
featured on WILS 1320's Capital City Recap, FXFactor, Columbia
Business, OpenMarkets, Sohu, News.Sina.com, Yicai, eastmoney,
Caijing, ETF88.com, 360doc, AH Radio, CNFOL.com, CITICS Futures,
Tongxin Securities, ZhiCheng.com, CBNweek.com, Caixin, Futures Daily,
Xinhua, CBN Newswire, Chinese Financial News, ifeng.com,
International Finance News, hexun.com, Finance.QQ.com,
Finance.Sina.com, The Korea Times, The Korea Herald, The Star, The
Malaysian Insider, BMF 89.9, iMoney Hong Kong, CNBC, Bloomberg Hedge
Fund Brief, The Wall Street Journal, The New York Times, Dallas
Morning News, Valor Econômico, FIXGlobal Trading, TODAY Online,
Oriental Daily News and Business Times.
Mr.
Perez has been engaged to present at the Council on Foreign
Relations, Vadym Hetman Kyiv National Economic University (Kiev),
Quant Investment & HFT Summit APAC 2012 (Shanghai), U.S.
Securities and Exchange Commission (Washington DC), CFA Singapore,
Hong Kong Securities Institute, Courant Institute of Mathematical
Sciences at New York University, University of International Business
and Economics (Beijing), Hult International Business School (London
and Shanghai) and Pace University (New York), among other public and
private institutions. In addition, Mr. Perez has spoken at a number
of global conferences, including Inside Market Data 2013 (Chicago),
Emerging Markets Investments Summit 2013 (Warsaw), CME Group's Global
Financial Leadership Conference 2012 (Naples Beach), Harvard Business
School's Venture Capital & Private Equity Conference (Boston),
High-Frequency Trading Leaders Forum (New York, Chicago, London), MIT
Sloan Investment Management Conference (Cambridge), Institutional
Investor's Global Growth Markets Forum (London), Technical Analysis
Society (Singapore), TradeTech Asia (Singapore), FIXGlobal Face2Face
(Seoul) and Private Equity Convention Russia, CIS & Eurasia
(London).
Mr.
Perez was a vice president at Citigroup, a senior consultant at IBM,
and a strategy consultant at McKinsey & Co. in New York City. Mr.
Perez has an undergraduate degree from Universidad Nacional de
Ingeniería, Lima, Peru (1994), a Master of Administration from
Universidad ESAN, Lima, Peru (1997) and a Master of Business
Administration from Columbia Business School, New York, with a dual
major in Finance and Management (2002). He belongs to the Beta Gamma
Sigma honor society.
Media
Contact:
Julia
Petrova
Media
Relations Coordinator
Knightmare
on Wall Street
+1-414-FORUMS0
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