TheStreet: High Frequency Traders Not The Enemy, Says Edgar Perez, Author, The Speed Traders

Document Sample
TheStreet: High Frequency Traders Not The Enemy, Says Edgar Perez, Author, The Speed Traders Powered By Docstoc
					TheStreet: High Frequency Traders Not The Enemy, Says Edgar Perez,
Author, The Speed Traders

Edgar Perez, 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, Interviewed by Gregg Greenberg,
TheStreet Staff Reporter

New York, NY, Jun 20, 2011 -- In an interview with Gregg Greenberg,
TheStreet Staff Reporter, Edgar Perez, Author, The Speed Traders,, said that high frequency trading is not
as dangerous as politicians make it out to be. He went on to express his
views about High-Frequency Trading, a set of tools that encompasses a
rather diverse number of strategies that prioritize speed, low-latency,
volume, liquid instruments and short timeframes. The full interview can
be found at:

According to Mr. Perez, high-frequency trading can be 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. Ultimately, speed traders (or ‘cheetah
traders’, as CFTC'S Commissioner Bart Chilton calls them), will continue
finding alpha-generating opportunities by trading new asset classes in
new geographies employing more sophisticated tools than ever.

Regarding the "flash crash", regulators had singled out an unnamed
Midwestern mutual-fund company's computer-driven trade as the catalyst
that sent a shaky market into an unprecedented tailspin. The fund had
been later identified by Reuters in May 14 as Waddell & Reed Financial
Inc. The SEC-CFTC report, released almost 5 months after the "flash
crash", placed relatively little blame on the broad structure of U.S.
financial markets, created and overseen by both regulators. Their 104-
page report painted a mixed picture of high-frequency traders, who had
taken heat for leaving the market that day. High-speed traders magnified
the impact of the selling by the mutual-fund firm by quickly dumping
futures contracts that they had bought back on the market, the report
said. And broadly, these trading firms were aggressive sellers during the
downdraft. But it also noted that some high-speed firms remained active
traders and contributed to the market recovery in the next 20 minutes.

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 ( 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, 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 Citi, 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

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.

Contact :
Edgar Perez
The Speed Traders
New York, NY
Hong Kong,

High Frequency Traders, The Speed Traders, TheStreet, Investing, trading,
liquid instruments, short timeframes

Shared By: