HFT Who’s Who Joining me at High-Frequency Trading Leaders Forum 2013 London
Mr. Edgar Perez, author of The Speed Traders and the forthcoming Knightmare on Wall Street
A who’s who of the high-frequency trading world will be joining me next week at Golden Networking’s High-Frequency Trading Leaders Forum 2013 London, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21, forum that will provide attendees in London with the most up-to-date review of where this ever-changing industry stands through an inspiring keynote speeches and thought-provoking panels with leaders in the field:
- Professor Alex Preda, Professor of Accounting, Accountability and Financial Management, King’s College
- Ms. Arlene McCarthy, Vice Chair – Economics and Monetary Affairs Committee and Draftsperson, Market Abuse Directive, European Parliament
- Ms. Carol Clark, Sr. Policy Specialist, Federal Reserve Bank of Chicago
- Mr. Chris Skinner, Chairman, Financial Services Club
- Professor Daniel Beunza, Lecturer, London School of Economics
- Professor Dave Cliff, Department of Computer Science, University of Bristol
- Mr. David Mills, Sales Director EMEA, Azul Systems
- Mr. Giovanni Beliossi, Managing Partner, FGS Capital
- Mr. Hirander Misra, Chairman, Forum Trading Solutions
- Professor Juan Pablo Pardo-Guerra, Lecturer, London School of Economics
- Dr. Magrino Bini, Statistical Arbitrage Portfolio Manager, Millennium Partners
- Mr. Philip Stafford, FT Trading Room Deputy Editor, Financial Times
- Professor Philip Treleaven, Director, PhD, Centre in Financial Computing, UCL
- Mr. Philippe Guillot, Executive Director of the Markets Division, Autorité des Marchés Financiers (AMF)
- Mr. Sam Tyfield, Partner, Vedder Price, P.C.
- Mr. Stuart Theakston, Head of Research and Automated Trading, GLC
- Dr. Tommi A. Vuorenmaa, Head of Research & Trading, Valo Research and Trading
- Mr. VJ Angelo, Director, Global Markets Exchange Group
- Professor Walter Distaso, Professor of Financial Econometrics, Imperial College London
High-Frequency Trading Leaders Forum 2013, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges” (http://www.HFT-Leaders-Forum.com) will bring insights for investors and speed traders who need to protect and refine their competitive advantage in a world dominated by algorithmic and high-frequency trading. Recognized practitioners, regulators, experts, and strategists will return to High-Frequency Trading Leaders Forum 2013 to provide attendees with the information they are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.
Topics that will be discussed at High-Frequency Trading Leaders Forum 2013 (http://www.HFT-Leaders-Forum.com) include the movement toward emerging markets, every time more attuned to the use of bots, the regulatory environment, how new technologies are changing the game, including a look at the upcoming regulatory changes that no doubt will be precipitated by Knight Capital’s trading glitch.
High-Frequency Trading Leaders Forum 2013 (http://www.high-frequency-trading-conference.com) is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors.
Read Full Post | Make a Comment ( None so far )The Best High Frequency Trading Book Now Available in Mandarin, Courtesy of Chinese Financial Publishing House
The Speed Traders
The Speed Traders, Edgar Perez’s ground breaking work on high frequency trading, is now available in Mandarin, Courtesy of Chinese Financial Publishing House. Unlike other works about HFT, Perez’s book provides readers with fresh, candid insight from the industry’s top HFT players.
Praise for The Speed Traders:
“Edgar’s book is fantastic . . . I recommend it highly.”
—Bart Chilton, Commissioner, United States Commodity Futures Trading Commission (CFTC)
“I have interviewed the most successful high-frequency traders in New York and Chicago, but I have learned so much more by reading Perez’s book. He covers the most relevant topics we need to know today and tomorrow.”
—Mark Abeshouse, Chairman, Augustus Capital
Edgar Perez, The Speed Traders Workshop 2012 Shanghai, Covered by China Business Network (CBN)
Edgar Perez援引数据介绍指出，目前在美国证券市场中的整体成交金额中有56%来自高频交易，而这种交易手法也是伴随着科技的发展、市场的竞争、以及监管政策的变化，在证券市场中自然演进所出现的。 高
频交易研究专家Edgar Perez近日在与第一财经采访时表示，高频交易是一种专注于“速度（speed）”的投资方法，主要以先进的电脑技术和设备寻求在极短时间内的获利，然 而这种投资方法与巴菲特的“价值投资”哲学并不矛盾，亦有助投资者能跳出经济周期和宏观大环境的制约，寻找到不为外界环境所左右的“阿尔法”值（即超出市 场基准的收益回报）。
Edgar Perez援引数据介绍指出，目前在美国证券市场中的整体成交金额中有56%来自高频交易，而这种交易手法也是伴随着科技的发展、市场的竞争、以及监管政策的变化，在证券市场中自然演进所出现的。
高频交易主要以电脑完成交易，数据处理可以在毫秒（0.001秒）之间，人力根本无法与之匹配，因此该种交易主要依赖先进的科学技术和电脑算法。高频交易的主要策略包括电子化交易、趋势追踪、相对价值套利、流动性监测、新闻解读分析和投资基金方法等。
与现有主流的投资方法不同，Edgar Perez介绍，高频交易并不关注宏观经济和行业公司基本面，亦不关注其技术走势，高频交易中盈利的关键就在于速度，“只要你比别人快，就能胜出”。此 外，决定高频交易胜败的还在于“买”与“卖”的决定。因此简单来说，想要倚赖高频交易盈利，最为重要的，就是比别人更快地“买入”或“卖出”。
Read Full Post | Make a Comment ( 1 so far )Edgar Perez, The Speed Traders, Addressed U.S. Securities and Exchange Commission in Washington DC
Edgar Perez, The Speed Traders @ Securities and Exchange Commission
Mr. Edgar Perez, author of The Speed Traders and presenter of The Speed Traders Workshop 2012, “How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX”, addressed senior officials of the U.S. Securities and Exchange Commission (SEC), federal agency that holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation’s stock and options exchanges, and other electronic securities markets in the United States. Mr. Perez’s presentation was held on Friday March 16, at the SEC headquarters in Washington DC.
The invitation received by Mr. Perez reads: “We are focused on many of the high-frequency trading issues that you discuss in your book The Speed Traders, copies of which we purchased for each of our unit supervisors. As such, we would appreciate hearing about your first-hand impressions of the high frequency and algorithmic worlds, as well as how you think current trading practices will evolve in the future.”
Mr. Perez is widely regarded as the preeminent speaker in the specialized areas of high-frequency trading. He has been featured on CNBC Cash Flow (with Oriel Morrison), CNBC Squawk Box (with Geoff Cutmore), BNN Business Day (with Kim Parlee), The Street (with Gregg Greenberg), Channel NewsAsia Asia Business Tonight and Cents & Sensibilities (with Lin Xue Ling), NHK World, iMoney Hong Kong, Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News, Los Angeles Times, TODAY Online,Oriental Daily News and Business Times. He has been engaged as speaker at Harvard Business School’s Venture Capital & Private Equity Conference, High-Frequency Trading Leaders Forum 2011, CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University (New York), Global Growth Markets Forum (London), Technical Analysis Society (Singapore), TradeTech Asia (Singapore), FIXGlobal Face2Face (Seoul) and 2nd Private Equity Convention Russia, CIS & Eurasia (London), among other global forums.
The Speed Traders, published by McGraw-Hill Inc., is the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. The Speed Traders explains everything there is to know about how today’s high-frequency tradersmake millions—one cent at a time.
The Speed Traders Workshop 2012, reveals how high-frequency trading players are succeeding in the global markets and driving the development of algorithmic trading at breakneck speeds from the U.S. and Europe to India, Singapore and Brazil. Upcoming dates for The Speed Traders Workshop 2012 include Seoul, March 28, Kuala Lumpur, April 12, Doha, April 18, Warsaw, May 11, Kiev, May 18, Singapore, May 26, Beijing, May 30, Shanghai, June 6, Jakarta, June 13, Mexico City, July 27, Hong Kong, August 4, and Moscow, August 10.
Read Full Post | Make a Comment ( None so far )‘High Frequency Trading: Time to Slow Down?’, with Edgar Perez, The Speed Traders, at High Frequency Trading Happy Hour
Edgar Perez, The Speed Traders Workshop 2012
Mr. Edgar Perez, author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.TheSpeedTraders.com), and presenter of The Speed Traders Workshop 2012, “How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX” (http://www.TheSpeedTradersWorkshop.com), will speak at upcoming Golden Networking’s High Frequency Trading Happy Hour New York (http://hfthappyhournewyork.eventbrite.com), on ’High Frequency Trading: Time to Slow Down?’, March 13, at 6PM.
Mr. Perez’s presentation will provide a revealing overview of what high frequency traders should expect in the next months on the regulatory front. Mr. Perez is widely regarded as the preeminent speaker in the specialized areas of high-frequency trading. Mr. Perez has been featured on CNBC Cash Flow (with Oriel Morrison), CNBC Squawk Box (with Geoff Cutmore), BNN Business Day (with Kim Parlee), The Street (with Gregg Greenberg), Channel NewsAsia Asia Business Tonight and Cents & Sensibilities (with Lin Xue Ling), NHK World, iMoney Hong Kong, Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News, Los Angeles Times, TODAY Online,Oriental Daily News and Business Times.
The Speed Traders Workshop 2012, reveals how high-frequency trading players are succeeding in the global markets and driving the development of algorithmic trading at breakneck speeds from the U.S. and Europe to India, Singapore and Brazil. Upcoming dates for The Speed Traders Workshop 2012 include Seoul, March 28, Kuala Lumpur, April 11, Doha, April 18, Warsaw, May 11, Kiev, May 18, Singapore, May 26, Beijing, May 30, Shanghai, June 6, Jakarta, June 13, Mexico City, July 27, Hong Kong, August 4, and Moscow, August 10.
Read Full Post | Make a Comment ( None so far )Edgar Perez, The Speed Traders, at High Frequency Trading Panel, MIT Sloan Investment Management Conference
MIT Sloan Investment Management Conference
Mr. Edgar Perez, author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.TheSpeedTraders.com), and presenter of The Speed Traders Workshop 2012, “How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX” (http://www.TheSpeedTradersWorkshop.com), will participate at the High Frequency Trading panel at upcoming Seventh Annual MIT Sloan Investment Management Conference (http://mitsloaninvestment.com/conference.html), Friday, March 9, 2012, The Charles Hotel, Cambridge, Massachusetts.
This year’s theme is “Fundamental and Quantitative Strategies for Turbulent Markets.” Conference attendees and investment professionals from across the globe will discuss strategies for dealing with the most critical issues facing the markets today. The distinguished keynote speakers and expert panelists will share their views on key trends and developments in their asset classes and investment processes. Keynote speakers for the Seventh Annual MIT Sloan Investment Management Conference include Congressman Barney Frank, Massachusetts Representative & Ranking Member of the House Financial Services Committee, Donald Sussman, Founder and Chairman, Paloma Partners LLC, Ron O’Hanley, President of Asset Management and Corporate Services, Fidelity Investments, and Professors Roberto Rigobon and Alberto Cavallo, Professors of Applied Economics and Founders of the Billion Prices Project, MIT Sloan.
Mr. Perez is widely regarded as the preeminent speaker in the specialized areas 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 by McGraw-Hill Inc., the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. The Speed Traders explains everything there is to know about how today’s high-frequency tradersmake millions—one cent at a time.
The Speed Traders Workshop 2012, reveals how high-frequency trading players are succeeding in the global markets and driving the development of algorithmic trading at breakneck speeds from the U.S. and Europe to India, Singapore and Brazil. Upcoming dates for The Speed Traders Workshop 2012 include Seoul, March 28, Kuala Lumpur, April 11, Doha, April 18, Warsaw, May 11, Kiev, May 18, Singapore, May 26, Beijing, May 30, Shanghai, June 6, Jakarta, June 13, Mexico City, July 27, Hong Kong, August 4, and Moscow, August 10.
Read Full Post | Make a Comment ( None so far )Edgar Perez Moderating Investing in Asia Panel at VC & PE Conference at Harvard Business School
The popular Investing in Asia panel at the 18th Annual Venture Capital and Private Equity Conference at Harvard Business School, held in Boston, February 17-18, 2012, was moderated by Mr. Edgar Perez, author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.thespeedtraders.com).
The Investing in Asia panel drew more than 200 participants for what became an insightful and enlightening discussion led by Mr. Perez.
The panel reviewed investing opportunities in the biggest continent of the world, focusing on private equity activity in the major financial centers, including China, Hong Kong, Japan and Indonesia.
Distinguished members of the panel included Melissa Ma (Asia Alternatives Capital), Christoph Mueller (Shaw Kwei & Partners), Guang Yang (Finergy Capital) and Ming Zhang (Institute of World Economics and Politics).
The 18th Annual Venture Capital and Private Equity Conference was the largest and most anticipated student-run conference at Harvard Business School. Over 900 students, alumni, faculty and industry professionals joined Mr. Perez and dozens of speakers for a day to gather knowledge and share experiences.
Distinguished keynote speakers included Daniel A. D’Aniello, Founder, The Carlyle Group; Guy Hands, Founder & Chairman, Terra Firma; C. Richard Kramlich, Chairman & Co-Founder, New Enterprise Associates; and Alexander Navab, Co-Head of North American Private Equity, Kohlberg Kravis Roberts & Co.
Asia Investing Panel Moderated by Edgar Perez Drawing Biggest Audience at Venture Capital & Private Equity Conference at Harvard Business School
Edgar Perez, Author, The Speed Traders
Mr. Edgar Perez, author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.thespeedtraders.com), moderated the popular Investing in Asia panel at the 18th Annual Venture Capital and Private Equity Conference at Harvard Business School, held in Boston, February 17-18, 2012.
According to the organizers, the Investing in Asia panel drew more than 200 participants for what became an insightful and enlightening discussion led by Mr. Perez. The panel reviewed investing opportunities in the biggest continent of the world, focusing on private equity activity in the major financial centers, including China, Hong Kong, Japan and Indonesia. Distinguished members of the panel included Melissa Ma (Asia Alternatives Capital), Christoph Mueller (Shaw Kwei & Partners), Guang Yang (Finergy Capital) and Ming Zhang (Institute of World Economics and Politics).
The 18th Annual Venture Capital and Private Equity Conference is the largest and most anticipated student-run conference at Harvard Business School. Over 900 students, alumni, faculty and industry professionals joined Mr. Perez and dozens of speakers for a day to gather knowledge and share experiences. Keynote speakers included Daniel A. D’Aniello, Founder, The Carlyle Group; Guy Hands, Founder & Chairman, Terra Firma; C. Richard Kramlich, Chairman & Co-Founder, New Enterprise Associates; and Alexander Navab, Co-Head of North American Private Equity, Kohlberg Kravis Roberts & Co.
Mr. Perez is widely regarded as the preeminent speaker in the specialized areas of high-frequency trading and Asia investing. He is author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, and is currently writing a book on investment opportunities in Indonesia, the world’s 4th most populous country.
Read Full Post | Make a Comment ( None so far )Alta frequência deve Girar 20% da Bolsa até o Fim do Ano na BM&FBovespa, Declarou Edgar Perez, Autor de The Speed Traders
Edgar Perez, The Speed Traders Workshop 2012
Edgar Perez, Professor Adjunto da Polytechnic Institute, New York University e autor de The Speed Traders, foi citado em Valor Econômico. Perez está em visita ao Brasil nesta semana para apresentar The Speed Traders Workshop 2012 São Paulo: Como Estratégias de Alta Frequência Utilizadas pelos Operadores para Aumentar os Lucros pode Encontrar Alpha em Equites, Opções e Mercados Futuros (http://thespeedtradersworkshopsaopaulo.eventbrite.com), 8 de Fevereiro.
Valor Econômico é o maior jornal de economia, finanças e negócios do Brasil; é fruto da parceira entre dois dos maiores grupos de comunicação do país, as Organizações Globo e a Folha de S.Paulo, e teve sua primeira edição lançada em 2 de maio de 2000. O Valor é reconhecido pela relevância de seu conteúdo, bem como pela profundidade com que aborda assuntos referentes ao mundo dos negócios, economia e finanças. Graças à força de sua marca, o jornal ganhou diversos prêmios e é considerado um dos três veículos mais admirados do país, na categoria Jornal.
“A clássica proposição industrial na qual a máquina substituirá o homem tem pouco a ver com a realidade da invasão dos robôs na BM&FBovespa. A nova fase de expansão dos computadores equipados por algoritmos matemáticos capazes de realizar operações ultrarrápidas no mercado nasce a partir da gestação de fatores bem humanos. Sob acirrada corrida dos investimentos em infraestrutura tecnológica, uma mão de obra cada vez mais qualificada nas corretoras e a disputa por clientes garantem a expectativa de que os negócios via alta frequência (HFT, High Frequency Trading na sigla em inglês) dobrem de tamanho rapidamente. ‘A nova plataforma será capaz de processar 200 milhões de mensagens por dia e oferecerá uma média de latência de 1,1 milissegundo’, declarou Edgar Perez, professor do Instituto Politécnico da Universidade de Nova York, em conversa com o Valor antes de viajar a São Paulo onde será palestrante de seminário sobre o tema nesta semana.”
“A colaboração mais direta da BM&FBovespa em propagar a alta frequência foi dada por meio dos descontos em emolumentos (custo cobrado pela bolsa para negociação) baseados em volume negociado. ‘Embora o HFT ainda tenha muito a avançar no Brasil para alcançar volumes de mercados desenvolvidos, o crescimento tem sido impressionante, graças à combinação de expansão dos acessos de alta frequência e políticas de descontos de custos, resultando em um aumento do volume negociado’, afirmou Edgar Perez. ‘Custos podem quebrar os modelos de negócios em alta frequência, já que as margens da maioria das estratégias são muito pequenas’, acrescentou.”
Operadores de alta frequência foram chamados de diversas maneiras:desde mestres do universo e pioneiros de mercado, para exploradores, hackers de computador e predadores. Todos que trabalham no mercado de investimento, possuem uma opinião sobre os operadores de alta frequência, porém quantos realmente entendem como eles trabalham? Os operadores fantasma do mundo do investimento mantiveram suas técnicas escondidas de todos, até agora. The Speed Traders Workshop 2012 (http://thespeedtradersworkshop.com), ministrado por Edgar Perez, autor de The Speed Traders, Um olhar interno sobre o novo fenômeno que está transformando o mundo dos investidores, revela com que frequência os players estão obtendo sucesso no mercado global e desenvolvendo novos algorítmicos de alta velocidade, desde os EUA e Europa até Singapura, India e Brasil.
Quem deve participar de The Speed Traders Workshop 2012 São Paulo: Como Estratégias de Alta Frequência Utilizadas pelos Operadores para Aumentar os Lucros pode Encontrar Alpha em Equites, Opções e Mercados Futuros?Analístas de commodities, investidores quantitativos, analistas de creditos de derivativos, mercado de capitais, analístas de fundos de cobertura, opções, bancos de investimento, operadores de algorítimos, derivativos, operadores de alta frequência, engenheiros financeiros, operadores de capital, escritórios familiares, operadores de commodities, fundações, operadores de derivativos, futuros investidores, operadores de derivativos internacionais, gestores de carteiras, operadores virtuais, gestores de risco, produtos estruturados, instituições investidoras, tecnólogos da informação, investidores de capital e vendedores de derivativos.
The Speed Traders Workshop 2012 (http://www.TheSpeedTradersWorkshop.com) abre as portas do mundo secreto dos operadores de alta frequência: a maneira mais controversa de se investir na atualidade; Os operadores buscando proteger os algorítimos que eles passaram tanto tempo aperfeiçoando, quase nunca falam com a imprensa ou revelam detalhes sobre como eles funcionam. The Speed Traders Workshop 2012 São Paulo começa uma série de apresentações pelo mundo, nos mais importante centros financeiros: Seoul, South Korea, março 28; Kuala Lumpur, Malaysia, 11 de abril; Doha, Qatar, 18 de abril; Warsaw, Poland, 11 de maio; Kiev, Ukraine, 18 de maio; Singapore, 26 de maio; Shanghai, China, 6 de junho; Jakarta, Indonesia, 13 de junho; Mexico City, Mexico, 27 julho; Hong Kong, 4 de agosto, e Moscow, Russia, 4 de agosto.
Read Full Post | Make a Comment ( None so far )The Present and Future of High Frequency Trading at FEA USP Sao Paulo with Edgar Perez, The Speed Traders Workshop 2012
The Speed Traders Workshop 2012 Sao Paulo
Edgar Perez, Adjunct Professor at the Polytechnic Institute of New York University, will speak on The Present and Future of High Frequency Trading at Faculdade de Economia, Administração e Contabilidade, Universidade de São Paulo (FEA USP), Brazil, January 31st, 2012. Mr. Perez, the author of The Speed Traders, Modern Finance Bookof 2012, will review current developments in the algorithmic and high frequency worlds and opportunities and challenges for the industry moving forward:
· High-Frequency Trading is a set of tools that encompasses a rather diverse number of strategies that prioritize speed, low-latency, volume, liquid instruments and short timeframes
· High-Frequency Trading has been referred to as the natural progression of technology applied to the investing and trading worlds
· In the process, High-Frequency Trading has unmasked structural issues in the U.S. equity markets that are currently being examined by legislators and regulators
· Speed traders will continue finding alpha-generating opportunities by trading new asset classes in new geographies employing more sophisticated tools than ever
Faculdade de Economia, Administração e Contabilidade, Universidade de São Paulo (FEA USP), or School of Economics, Business and Accounting at the University of São Paulo, is a teaching and research institution renowned across the world for its excellence in academic production and undergraduate and graduate programs. The FEA-USP was founded more than 60 years ago to prepare professionals in business, economics and accounting in a nation whose economy was going through a process of democratization after World War II. The school’s initial goal, one which exists to this day, was to form professionals who can contribute to society and make a difference in a positive way. Decades after its creation, FEA continues to set national and international standards in its field. The school follows the high standards of the University of São Paulo and combines its knowledge of the Brazilian reality with the methodology of reputed international institutions to distinguish itself in the preparation of economists, administrators and accounting specialists.
Mr. Perez will also present at BM&FBovespa The Speed Traders Workshop 2012 Sao Paulo: How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX, on February 8th. This workshop will reveal how high-frequency trading players are succeeding in the global markets and driving the development of algorithmic trading at breakneck speeds from the U.S. and Europe to India, Singapore and Brazil, and kicks off a series of presentations in the world’s most important financial centers: Dubai, January 25; Seoul, South Korea, March 28; Kuala Lumpur, Malaysia, April 11; Warsaw, Poland, May 11; Kiev, Ukraine, May 18; Singapore, May 26; Shanghai, China, June 6; Jakarta, Indonesia, June 13; Mexico City, Mexico, July 27; Hong Kong, August 4, and Moscow, Russia, August 10.
Read Full Post | Make a Comment ( None so far )Coming to the Largest City in South America: The Speed Traders Workshop 2012 Sao Paulo, February 8th
The Speed Traders Workshop 2012 Sao Paulo
Sao Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world’s seventh largest city by population. The metropolis is anchor to the Sao Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among the five-largest metropolitan areas on the planet. Now it is the first and only city in South America where Edgar Perez, author of The Speed Traders, is bringing The Speed Traders Workshop 2012 Sao Paulo, February 8th.
Edgar Perez, Adjunct Professor at the Polytechnic Institute of New York University, will lead The Speed Traders Workshop 2012 Sao Paulo: How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (http://www.thespeedtradersworkshop.com), workshop that will reveal how high-frequency trading players are succeeding in the global markets and driving the development of algorithmic trading at breakneck speeds from the U.S. and Europe to India, Singapore and Brazil.
The Speed Traders Workshop 2012 Sao Paulo opens the door to the secretive world of high-frequency 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 disclose as little as possible about how they operate. The Speed Traders Workshop 2012 Sao Paulo will reveal how high-frequency trading players are succeeding in the global markets and driving the development of algorithmic trading at breakneck speeds from the U.S. and Europe to India, Singapore and Brazil. Highlights of The Speed Traders Workshop 2012 Sao Paulo include:
· The first and most comprehensive initiation to the world of high-frequency trading
· Study materials provided by Edgar Perez, the author of the latest book on the subject of speed trading, and a well-known presenter in America, Europe and Asia
· Strategies high frequency traders leverage to find alpha in equities, options, futures and FX
· Latest update on high-frequency trading in the world and current regulatory initiatives
· Techniques to detect high-frequency trading in the markets
· Key enablers of high-frequency trading in the U.S., Europe and Asia
· Proposed regulatory initiatives after the “flash crash”
· Up-to-date review of the future of high-frequency trading
The Speed Traders Workshop 2012 Sao Paulo kicks off a series of presentations in the world’s most important financial centers: Dubai, January 25; Seoul, South Korea, March 28; Kuala Lumpur, Malaysia, April 11; Warsaw, Poland, May 11; Kiev, Ukraine, May 18; Singapore, May 26; Shanghai, China, June 6; Jakarta, Indonesia, June 13; Mexico City, Mexico, July 27; Hong Kong, August 4, and Moscow, Russia, August 10.
Read Full Post | Make a Comment ( None so far )Causing Far More Vertigo than Avant-garde Burj Khalifa? Edgar Perez’s The Speed Traders Workshop 2012 Dubai, January 25
Avant-garde Burj Khalifa
Burj Khalifa, known as Burj Dubai prior to its inauguration, is a skyscraper in Dubai, United Arab Emirates, and is currently the tallest manmade structure in the world, at 829.84 m. Not only that, it is the tallest skyscraper to top of antenna, the tallest structure ever built, the tallest extant structure, the tallest freestanding structure, and the building with most floors: 160. Would there be something that induces more vertigo than this avant-garde structure? Edgar Perez’s The Speed Traders Workshop 2012Dubai on January 25.
Mr. Edgar Perez, author of The Speed Traders, and Adjunct Professor at the Polytechnic Institute of New York University, will lead The Speed Traders Workshop 2012 Dubai: How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (http://www.thespeedtradersworkshop.com), on January 25, 2012. Mr. Perez will reveal at The Speed Traders Workshop 2012Dubai how high-frequency trading players are succeeding in the global markets and driving the development of algorithmic trading at breakneck speeds from the U.S. and Europe to India, Singapore and Brazil.
The Speed Traders Workshop 2012 Dubai opens the door to the secretive world of high-frequency 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 disclose as little as possible about how they operate. The Speed Traders Workshop 2012 Dubai will reveal how high-frequency trading players are succeeding in the global markets and driving the development of algorithmic trading at breakneck speeds from the U.S. and Europe to India, Singapore and Brazil.
The Speed Traders Workshop 2012 Dubai kicks off a series of presentations in the world’s most important financial centers: Sao Paulo, Brazil, February 8; Seoul, South Korea, March 28; Kuala Lumpur, Malaysia, April 11; Warsaw, Poland, May 11; Kiev, Ukraine, May 18; Singapore, May 26; Shanghai, China, June 6; Jakarta, Indonesia, June 13; Mexico City, Mexico, July 27; Hong Kong, August 4, and Moscow, Russia, August 10.
Read Full Post | Make a Comment ( None so far )Edgar Perez, The Speed Traders, Opening Keynote Speaker at FIXGlobal Face2Face, Seoul, South Korea
FIXGlobal Face2Face
Mr. Edgar Perez, author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.thespeedtraders.com), will be presenting at FIXGlobal Face2Face, Seoul, South Korea, November 25, on “The Present and Future of High-Frequency Trading“.
Every year, over 200 industry professionals gather in Westin Chosun at the FIXGlobal Face2Faceforum to discuss the latest issues that are affecting the industry, from trading practices, through to the use of technologies. With the use of FIX Protocol in Korea breaks down fairly evenly in the Securities and Futures arenas and a strong growth potential of FIX Protocol adoption across Asset Managers, both new adoptions or migrating from non-standard FIX implementations, the event will continue to bring you the latest information on the usage of FIX on different stages of within the trading cycle.
FIXGlobal Face2Face forums feature lively debate between experts, sharing ideas and insight on implementing an effective electronic tradingstrategy, global exchanges competition, the use of algorithmic trading strategies etc. in Korea and regionally and what it means to the markets going forward.
The Speed Traders, published by McGraw-Hill Inc., is the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. The Speed Traders explains everything there is to know about how today’s high-frequency traders make millions—one cent at a time. In this new title, The Speed Traders, Mr. Perez opens the door to the secretive world of high-frequency trading. Inside, prominent figures drop their guard and speak with unprecedented candidness about their trade.
Read Full Post | Make a Comment ( None so far )Edgar Perez, Author, The Speed Traders, Keynote Speaker at High Frequency Trading Leaders Forum Singapore
Edgar Perez, Author, The Speed Traders
Edgar Perez, Author, The Speed Traders, will be featured Keynote Speaker at High-Frequency Trading Leaders Forum 2011 Singapore (http://www.HFTLeadersForum.com), November 21-23, forum organized by Golden Networking in the world’s major financial centers, including New York, Chicago, Hong Kong, Sao Paulo and London.
Mr. Perez is widely regarded as the pre-eminent networker in the specialized area of high-frequency trading. He is author of The Speed Traders, published by McGraw-Hill, founder of Golden Networking and host of High-Frequency Trading Happy Hour business receptions in New York City, Chicago, London, Hong Kong and Singapore.
Mr. Perez has been featured on CNBC Cash Flow (with Oriel Morrison), BNN Business Day with Kim Parlee, TheStreet.com (with Gregg Greenberg), Channel NewsAsia (with Lin Xue Ling), iMoney Hong Kong, Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News and Los Angeles Times. He has been engaged as speaker at Harvard Business School’s 17th Annual Venture Capital & Private Equity Conference, High-Frequency Trading Leaders Forum 2011 (New York, Chicago, Hong Kong, Sao Paulo, Singapore), CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University (New York), Global Growth Markets Forum (London), Middle East Hedge Funds Investors Summit 2012 (Dubai, UAE), among other global forums.
Mr. Perez was a vice president at Citigroup, a senior consultant at IBM, and a 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, with a dual major in Finance and Management (2002). He belongs to the Beta Gamma Sigma honor society. Mr. Perez resides in the New York City area and is an accomplished salsa and hustle dancer.
Read Full Post | Make a Comment ( None so far )Edgar Perez Presenting at Institutional Investor’s Global Growth Markets Forum in London
The Speed Traders
Mr. Edgar Perez, author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.thespeedtraders.com), will be presenting at Institutional Investor’s Global Growth Markets Forum, Achieving International Investment Standards, in Waldorf Hilton, London, November 2nd. He will be interviewed on the topic “High-Frequency Trading Opportunities in Emerging Markets”.
The stock exchanges and the securities houses in many growth markets globally are keen to increase capital inflows, and this means improving the factors international investors care about most: regulations, rules, and infrastructure. These exchanges and brokerages understand that, to capitalize on investors’ growing appetite for emerging markets/frontier assets, they need to be able to offer US and European institutions comfort their investments are being made in an efficient, transparent, and globally competitive manner.
This Global Growth Markets Forum, co-hosted by Institutional Investor and Marco Polo Capital Markets, will assess the steps exchanges and other important players in these economies now driving global economic growth are taking to achieve international standards. Experts will evaluate the progress of the exchanges and the securities houses regarding each of the central pillars of sound investing: regulation, compliance, and execution. Delegates will acquire an in-depth understanding of the investment opportunities and the status of the capital markets in the global growth markets from the leading domestic security houses and other experts.
The Speed Traders, published by McGraw-Hill Inc., is the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. The Speed Traders explains everything there is to know about how today’s high-frequency traders make millions—one cent at a time. In this new title, The Speed Traders, Mr. Perez opens the door to the secretive world of high-frequency trading. Inside, prominent figures drop their guard and speak with unprecedented candidness about their trade.
Mr. Perez is widely regarded as the pre-eminent networker in the specialized area of high-frequency trading. He has been featured on CNBC Cash Flow with Oriel Morrison, BNN Business Day with Kim Parlee, TheStreet.com with Gregg Greenberg, Channel NewsAsia Cent & Sensibilities with Lin Xue Ling, The Wall Street Journal, The New York Times, The Dallas Morning News, Los Angeles Times, iMoney Hong Kong, Hedge Fund Brief, Oriental Daily News Hong Kong, and more. He has been engaged as speaker at Harvard Business School’s 17th Annual Venture Capital & Private Equity Conference, High-Frequency Trading Leaders Forum 2011 (New York, Chicago, Hong Kong, Sao Paulo, Singapore), CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University (New York), Global Growth Markets Forum (London), Technical Analysis Society (Singapore), Middle East Hedge Funds Investors Summit 2012 (Riyadh, Saudi Arabia), among other global forums.
Read Full Post | Make a Comment ( None so far )Long-Term Investors’ Fears Driving Increased Volatility
The Speed Traders' Edgar Perez with BNN's Kim Parlee
For Edgar Perez, author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.thespeedtraders.com), increased volatility experienced by financial markets is being driven by long-term investors’ fears. Mr. Perez, who was recently featured on BNN’s Business Day and interviewed by Kim Parlee, reflected that similar concerns drove volatility to record heights during the Great Depression and Black Monday.
The stock market crash on October 29, 1929 set in motion a series of events that led to the Great Depression, but in fact, the American economy and global economy had been in turmoil six months prior to Black Tuesday, and a variety of factors before and after that fateful date in October caused and exacerbated the Great Depression. While America prospered during the 1920s, most of Europe, still reeling from the devastation of World War I, fell into economic decline. America soon became the world’s banker, and as Europe started defaulting on loans and buying less American products, the Great Depression spread. With only loose stock market regulations in place before the Great Depression, investors were able speculate wildly, buying stocks on margin, needing only 10% of the price of a stock to be able to complete the purchase. Rampant speculation led to falsely high stock prices, and when the stock market began to tumble in the months leading up to the October 1929 crash, speculative investors couldn’t make their margin calls, and a massive sell-off began. While the great rise in the stock market (from 181 points in early 1928 to 381 points in September 1929) was fueled by optimism and false hope, the plunge was flamed by stark fear.
Similar situation happened on Black Monday, the name given to Monday, October 19, 1987, when stock markets around the world ‘crashed’, shedding a huge value in a very short period. The crash began in Hong Kong, spread west through international time zones to Europe, hitting the United States after other markets had already declined by a significant margin. At the time, economists feared that if the U.S. economy faltered, the entire world economy would stumble and fall into recession again, as it had in 1981–82. Many observers now believe the panic of Black Monday simply reflected a spreading fear that the world situation was rapidly becoming unmanageable.
Fast forward to 2011, CNN’s Richard Quest concludes too that the causes of this latest crisis are fear, worry and concern, three uncomfortable bedfellows that have wreaked havoc on the world’s financial markets. “What pushed everyone over the edge was the debt ceiling debacle and the downgrading of U.S. debt by ratings agency Standard & Poor’s, that was followed by a 630 point fall in the Dow Jones index.”
Fear that the world situation is becoming unmanageable is driving long-term investors to dump equities and look for protection in less risky instruments, ironically, recently S&P downgraded U.S. treasuries. Economists at JPMorgan, in their weekly reprise of economic developments, blamed the recent global stock selloff on “a sense of policy paralysis in the U.S. and Europe, which has driven home the point that there is no cavalry to ride to the rescue.” While the sentiment is the same as in the 20s, 1987 and now, certain market participants will always look for a culprit, role played by high-frequency trading this time. No doubt if another crisis comes our way in the future, another group will receive the blame, only to be absolved by financial historians.
The Speed Traders' Edgar Perez on BNN's Business Day
BNN’s Business Day puts a spotlight on the stocks and stories expected to move the markets, and then switches to minute-by-minute coverage throughout the trading day in Canada and the U.S. Kim Parlee, Marty Cej, Frances Horodelski, and Martin Baccardax along with BNN‘s team of reporters and expert guests provide comprehensive reporting along with the best background and analysis in the business. Business News Network (BNN) is the Canadian English language cable television business channel; BNNbroadcasts programming related to business and financial news and analysis.
The Speed Traders, published by McGraw-Hill Inc., is the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. The Speed Traders explains everything there is to know about how today’s high-frequency traders make millions—one cent at a time. In this new title, The Speed Traders, Mr. Perez opens the door to the secretive world of high-frequency trading. Inside, prominent figures drop their guard and speak with unprecedented candidness about their trade. For more about The Speed Traders, readers can visit its Facebook and Twitter pages, as well as the most popular online retailers, including Amazon, Barnes & Noble and Borders, among others.
Mr. Perez is widely regarded as the pre-eminent networker in the specialized area of high-frequency trading. He has been featured on CNBC Cash Flow with Oriel Morrison (http://video.cnbc.com/gallery/?video=2023403523), BNN Business Day with Kim Parlee (http://watch.bnn.ca/business-day/august-2011/business-day-august-19-2011/#clip519647), TheStreet.com with Gregg Greenberg (http://www.thestreet.com/video/11144274/high-frequency-traders-not-the-enemy.html), and Channel NewsAsia Cent & Sensibilities with Lin Xue Ling, and engaged as speaker at Harvard Business School’s 17th Annual Venture Capital & Private Equity Conference, High-Frequency Trading Leaders Forum 2011 (New York, Chicago, Hong Kong, Sao Paulo, Singapore), CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University (New York), Global Growth Markets Forum (London), Technical Analysis Society (Singapore), Middle East Hedge Funds Investors Summit 2012 (Riyadh, Saudi Arabia), among other global forums.
Read Full Post | Make a Comment ( None so far )Edgar Perez, Author, The Speed Traders, to Present at Middle East Hedge Funds Investors Summit 2012, Dubai, UAE
The Speed Traders, by Edgar Perez
Mr. Edgar Perez, author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.thespeedtraders.com), will present at upcoming Middle East Hedge Funds Investors Summit 2012, January 22-24, Dubai, UAE, on “The Present and Future of High-Frequency Trading”. The Middle East Hedge Funds Investors Summit 2012 is the region’s premier meeting place for Middle East Institutional Investors, SWFs, Pension and Insurance Funds, HNWIs, Investment Houses and Family Offices. In an exclusive association with CNBC Arabiya, Middle East Hedge Funds Investors Summit 2012 offers unique access to the region’s alternatives and hedge funds investors and an expert speaker faculty featuring Regional Investors, Economists, and Investment gurus, Wealth Managers, Strategists and Star Managers.
The Middle East Hedge Funds Investors Summit 2012 will bring insights from top Middle East investors on how and why Middle East investors are responding as New Portfolio Managers with New Mandates post Madoff. With Middle East investors contributing on a host of influential topics and panels, attendees will get real insight into what needs to be done and required by these Middle East investors to overcome the hurdles for successful hedge fund investing. Attendees will hear the latest investment strategies discussed to get an in depth analysis of the Investors take on the key issues of Liquidity, Risk, Transparency, Portfolio Management, Due Manager Selection, Benchmarking and the performance of Managers, Funds and Alpha.
The Speed Traders, published by McGraw-Hill Inc., is the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. The Speed Traders explains everything there is to know about how today’s high-frequency traders make millions—one cent at a time. In this new title, The Speed Traders, Mr. Perez opens the door to the secretive world of high-frequency trading. Inside, prominent figures drop their guard and speak with unprecedented candidness about their trade.
Mr. Perez is one of the great business networkers and motivators on the lecture circuit; he is available worldwide for the following speaking engagements: Present and Future of High-Frequency Trading, The Real Story behind the “Flash Crash”, Networking for Financial Executives, and Business Networking for Success
Read Full Post | Make a Comment ( None so far )For Edgar Perez, Author, The Speed Traders, Increased Volumes and Volatility to Feed High-Frequency Trading on Monday
Mr. Edgar Perez, author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.thespeedtraders.com), wrote on Modern Finance Report (http://www.modernfinancereport.com) that a short-term stock plunge (increase of volume) and a spike in volatility on Monday are reasonably expected given S&P’s downgrade of the U.S. debt rating; the U.S. stock market was coming off its worst week since the financial crisis. “So we have here two of the main requirements for high-frequency trading, volume and volatility. Therefore, it will be reasonable to expect Monday to be a busy day for speed traders, as they provide the liquidity long-term investors will need to survive the day.”
Mr. Perez indicated that he would not be inclined to kill the messenger and instead see S&P’s decision in a positive light as it should serve as an effective wake-up call to get Washington’s warring players to the negotiating table again. He gave the example of S&P’s past decision to put the UK’s AAA-rating on negative outlook in May 2009, which fueled a debate on the need for significant fiscal tightening, and tough decisions taken by the new coalition government, which were eventually rewarded by S&P with the UK’s outlook being revised back up to stable in October last year.
Mr. Perez wrote: “We cannot deny the significant psychological impact of S&P’s decision on the markets and the view of foreign governments and investors of the U.S. economy. However, I expect Monday’ stock plunge to be a short-term event that will lose steam quickly. In fact, investors can be tempted to use it as reason to snatch value plays, as there would have not been a fundamental change from where we were last Friday. At the end of the day, S&P’s main theme, that U.S. finances are in bad shape, is not news to investors and traders; for instance, Pimco, the world’s largest bond fund, had stepped away from US government debt back in March; in addition, savvy money managers had already positioned themselves for a potential rating downgrade.”
Finally, he summarized: “I agree with experts who sustain that the downgrade will not lead to sharp rises of lending rates to the corporate sector or households in the U.S., as Fitch and Moody’s still maintain their top rating for U.S. debt. Also, a sudden sell off of U.S. Treasury instruments looks unlikely, as there are still not many safe assets to replace them. Once the dust settles, attention will turn back to the economic fundamentals. Disregarding the S&P downgrade comes with high risk for the U.S. economy, particularly if Washington prioritizes electoral concerns over the long-term health of this great nation, the United States of America.”
For Renowned Speed Trader, Humans Not Allowed Anywhere Near High-Frequency Execution System
It took a while for Adam Afshar, one of the leading high-frequency traders featured in Edgar Perez’s The Speed Traders: An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, to believe that the markets were more or less efficient under normal circumstances and to realize that the analysts at most firms provided no value and sometimes a negative value. He says, “My first attempt at using the computer was to build a system to help traders have better information faster to enable them or their portfolio managers to make better decisions, a sort of hybrid system where the computers are helping the humans. But, in less than a year, I realized that discretionary human participation in selection, portfolio management , or trading was so deleterious that no amount of computer power or intellectual algorithms could mitigate it.”
Adam Afshar, Renowned Speed Trader- Hyde Park Global Investments
He adds: “It’s very important to stress this point because if the system allows human discretion at any level (idea generation, portfolio management, or trading) and your machine does not have the human discretionary elements modeled correctly in its learning algorithm (which we claim is not possible at this time), what you are left with is simply a quantitative trader that uses certain calculations to assist his or her trading. It becomes difficult or even impossible to assess whether the success or failure was due to the calculations, formula, or algorithms . Although we can argue on the pros and cons of humans as traders, we have to agree that this method is not and cannot be scientific. It is not scientific because it is not possible to backtest a model that allows any discretionary human intervention. For example, if you have computers that are generating trades, but the execution is done by humans, then we would argue that you cannot determine whether the success or failure of the system was due to its robust artificial intelligence or to a very good trader, and there is no way of testing and duplicating the results. Therefore, we would argue that any backtesting becomes essentially void.”
Hyde Park Global Investments, Afshar’s firm, is an investment and trading firm that has developed an artificial intelligence system built primarily on genetic algorithms and other evolutionary models to identify mispricings, arbitrage, and patterns for many electronic financial markets and the robotic platform to monetize the opportunities. The firm, which trades its own capital so far, potentially will accept investments from outside sources.
Read Full Post | Make a Comment ( None so far )The Speed Traders’ Edgar Perez to CNBC’s Oriel Morrison, Criticism of High-Frequency Trading Phenomenon Unfair
The Speed Traders' Edgar Perez to CNBC's Oriel Morrison, Criticism of High-Frequency Trading Phenomenon Unfair
Edgar Perez, author, The Speed Traders: An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, explained in detail the role high-frequency trading has been playing in the equity markets to CNBC Cash Flow’s Oriel Morrison; the interview is available on CNBC’s website at http://video.cnbc.com/gallery/?video=2023403523. High-frequency trading, in which computers may buy and sell thousands of shares in fractions of a second, had come under criticism after the Dow Jones Industrial Average lost almost 1,000 points intraday on May 6, 2010, before recovering just as quickly.
Mr. Perez described high-frequency trading as the natural progression of technology applied to the investing and trading worlds. In the process, high-frequency trading has certainly unmasked structural issues in the U.S. equity markets that are currently being examined by legislators and regulators in an effort to further strengthen financial markets. He indicated that, on balance, the impact of high-frequency trading is positive for all other market participants thanks to the increased liquidity it provides to retail and institutional investors.
High-frequency traders replace traditional specialists in providing liquidity in a much more competitive frame work. Liquid and efficient capital markets are extremely important for economic development. While some feel that high-frequency traders spending millions of dollars on infrastructure to be a few microseconds faster than the other guy, is somehow, from a social perspective, not money “well spent”, it can be argued that this is just the way that competitive markets find equilibrium.
The Speed Traders: An Insider's Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World
As expressed by Stuart Theakston, Head of Quantitative Research and Automated Trading with GLC and one of the practitioners featured in The Speed Traders, high-frequency trading has all the attributes required to make a perfect scapegoat:
- It is hard to understand, or at least, it takes a bit of effort to understand (even professional long-only institutional investors have difficulty understanding it)
- It is fairly exclusive, as the firms involved, either have no incentive to talk about what they do (because they are proprietary trading firms and don’t need to attract external capital), or are not allowed to (because they are hedge funds and have regulatory constraints on marketing themselves)
- It employs individual participants having very high levels of academic qualifications, mostly PhDs
- It has some large dollar numbers associated with it (though more in terms of turnover than profitability, as further detailed in The Speed Traders)
- It has lots of terminology associated with it that sounds geeky and confusing to the uninitiated: ‘microsecond’, ‘co-location’, ‘momentum ignition’, ‘temporal arbitrage’ etc.
- Some intelligent, well informed and eminently quotable people are railing against it (Mario Gabelli, Paul Wilmott, Richard Bookstaber, among others)
- It is prone to occasionally be a contributory factor (or, in fact, its switching off was a contributory factor) to events perceivable by the public, like the “flash-crash”
The Speed Traders, http://www.TheSpeedTraders.com, published by McGraw-Hill Inc., is the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. The Speed Traders explains everything there is to know about how today’s high-frequency traders make millions—one cent at a time.”
Read Full Post | Make a Comment ( 1 so far )The Speed Traders’ Author, Edgar Perez, to Address Hong Kong Securities Institute
Edgar Perez, Author, The Speed Traders, http://www.TheSpeedTraders.com, will address a members-only session of the Hong Kong Securities Institute, professional body that aims to raise the standards of securities and finance practitioners in Hong Kong, June 28, on The Present and Future of High-Frequency Trading.
Hong Kong Securities Institute was officially formed in December 1997 as a professional body to raise the standards of securities and finance practitioners in Hong Kong. In setting standards for professional excellence in Hong Kong, the HKSI offers a platform where individuals can gain the skills, and achieve the necessary professionalism and personal competence as they proceed towards further career advancement. The HKSI provides continuous professional development by offering comprehensive examinations and an extensive programme of training courses and events. Finance professionals benefit from HKSI membership programme which provides invaluable support and professional recognition from industry peers as well as substantial discounts on a variety of HKSI programmes.
The Speed Traders, http://www.TheSpeedTraders.com, published by McGraw-Hill Inc., is the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. The Speed Traders explains everything there is to know about how today’s high-frequency traders make millions—one cent at a time.
Read Full Post | Make a Comment ( None so far )Golden Networking Announces Edgar Perez, Author, The Speed Traders, at High-Frequency Trading Leaders Forum 2011
Golden Networking has announced that Edgar Perez, Author, The Speed Traders, will present at their High-Frequency Trading Leaders Forum 2011, “How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World”, May 23, 24 & 25 in New York City. Mr. Perez will discuss “The Present and Future of High-Frequency Trading”.
High-frequency traders have been called many things—from masters of the universe and market pioneers to exploiters, computer geeks, and even predators. Everyone in the business of investing has an opinion of speed traders, but how many really understand how they operate? In his new title, The Speed Traders, Mr. Perez opens the door to the secretive world of high-frequency trading (HFT). Inside, prominent figures of HFT drop their guard and speak with unprecedented candidness about their trade.
Mr. Perez is widely regarded as the pre-eminent networker in the specialized area of high-frequency trading. He is host of High-Frequency Trading Happy Hour business receptions in New York City, which have drawn the world’s top industry practitioners. He has organized high-frequency trading forums and workshops, as well as conferences on subjects as diverse as hedge funds, derivatives, private equity, distressed investing, and China, in the world’s major business centers. Mr. Perez has presented at Harvard Business School’s 17th Annual Venture Capital & Private Equity Conference and at forums organized by Columbia Business School’s Career Management Center and Alumni Club of New York.
For more information about High-Frequency Trading Leaders Forum 2011, visit Golden Networking‘s website or send an email to info@goldennetworking.net.
Read Full Post | Make a Comment ( None so far )Book Launch Party for “The Speed Traders” on May 10, W Hotel in New York City
The New York City book launch party for “The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World”, by Edgar Perez, will be held on May 10th, 2011, at 6:00 p.m., at the Whiskey Blue in the W Hotel. Guests are encouraged to RSVP at http://thespeedtradersnyc.eventbrite.com.
High-frequency traders have been called many things—from masters of the universe and market pioneers to exploiters, computer geeks, and even predators. 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. In this new title, The Speed Traders, Edgar, founder of the prestigious business networking community Golden Networking (http://www.goldennetworking.net), opens the door to the secretive world of high-frequency trading (HFT). Inside, prominent figures of HFT drop their guard and speak with unprecedented candidness about their trade.
Edgar begins with an overview of computerized trading, which formally began on February 8, 1971, when NASDAQ launched the world’s first electronic market with 2,500 over-the-counter stocks and which has evolved into the present-day practice of making multiple trades in a matter of microseconds. He then picks the brains of today’s top players. Manoj Narang (Tradeworx), Peter van Kleef (Lakeview Arbitrage), and Aaron Lebovitz (Infinium Capital Management) are just a few of the luminaries who decided to break their silence and speak openly to Edgar. Virtually all of the expertise available from the world of speed trading is packed into these pages.
The Speed Traders, published by McGraw-Hill Inc., is the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. The Speed Traders explains everything there is to know about how today’s high-frequency traders make millions—one cent at a time.
Mr. Perez is widely regarded as the pre-eminent networker in the specialized area of high-frequency trading. He is the founder of Golden Networking and host of High-Frequency Trading Happy Hour business receptions (http://www.hfthappyhour.com) in New York City, which have drawn the world’s top industry practitioners. He has organized high-frequency trading forums (http://www.hftleadersforum.com) and workshops (http://www.hftexpertsworkshop.com), as well as conferences on subjects as diverse as hedge funds, derivatives, private equity, distressed investing, and China, attracting thousands of executives and professionals in the world’s major business centers. Mr. Perez has presented at Harvard Business School‘s 17th Annual Venture Capital & Private Equity Conference and at forums organized by Columbia Business School‘s Career Management Center and Alumni Club of New York.
Mr. Perez was a vice president at Citigroup, a senior consultant at IBM, and a 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, with a dual major in Finance and Management (2002). He is a member of the Beta Gamma Sigma international honor society. Mr. Perez resides in the New York City area and is an accomplished salsa and hustle dancer.
Mr. Perez is one of the great business networkers and motivators on the lecture circuit; he is available worldwide for the following speaking engagements: Present and Future of High-Frequency Trading, The Real Story behind the “Flash Crash”, Networking for Financial Executives, and Business Networking for Success.
Read Full Post | Make a Comment ( None so far )
