Edgar Perez, author of Knightmare on Wall Street and The Speed Traders
Business, Cloud Computing, Cyber Security, Economics, Finance, Financial Regulation, High-frequency Trading, Information Technology, Investing, Stock Exchanges

Cybersecurity Expert Edgar Perez Leading High-frequency and Electronic Trading Workshop in Kuala Lumpur, Malaysia, this June 5

According to the Financial Times, Bursa Malaysia and the Stock Exchange of Thailand (SET) have both been upgrading their trading systems in recent months to accommodate electronic traders and make it easier for foreigners to trade their markets, including high-frequency traders. Bursa Malaysia has reported in the past growth in the daily average number of contracts traded, in part due to what it said was an “outreach” to high-frequency traders. “We will continue our efforts in offering more tradable alternatives and improving market structure and framework. All these will support our initiatives in expanding our regional presence and in taking us a step closer to being Asean’s multinational marketplace,” said a spokesperson for Bursa Malaysia.

Cybersecurity and electronic trading expert Edgar Perez, author of The Speed Traders (http://www.thespeedtraders.com) and Knightmare on Wall Street (http://knightmareonwallstreet.com) 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 2015 Kuala Lumpur, “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://thespeedtradersworkshop.com), is the first and most comprehensive initiation to the world of high-frequency trading with

The Speed Traders Workshop 2015 Kuala Lumpur (http://thespeedtradersworkshop.com) this June 5 will cover 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.

ABOUT KNIGHTMARE ON WALL STREET

Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets is a thrilling minute-by-minute account of the terrifying hours following Knight Capital’s August 1, 2012 trading debacle, with news-breaking research regarding the firm’s 17 years of tumultuous existence as an independent company. Knightmare on Wall Street is the definitive behind-the-scenes story of Knight Capital.

The firm, 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.

Thomas Joyce, CEO of Knight Capital since 2002 and an unapologetic advocate of electronic trading, had been scornful of those companies that struggled to keep up with ever-changing stock markets. So it was certainly shocking that 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.

While Knight Capital was back in the game, its limping recovery quickly prompted hungry competitors to bid for the entire company. On December 19, 2012, the board decided to accept an acquisition proposal from GETCO rather than Virtu Financial. For GETCO, acquiring Knight Capital represented a gigantic fast forward step. For Knight Capital, it was the end of its wild ride as an independent entity.

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.

ABOUT THE SPEED TRADERS

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 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.

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), John Netto (M3 Capital), 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.

ABOUT ELECTRONIC TRADING AND CYBERSECURITY EXPERT EDGAR PEREZ

Mr. Perez is the author of Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets (2013), and 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), 交易快手, published in Mandarin by China Financial Publishing House (2012), and Investasi Super Kilat, published in Bahasa Indonesia by Kompas Gramedia (2012).

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 featured on Sohu, News.Sina.com, CITICS Futures, Tongxin Securities, ZhiCheng.com, Yicai, eastmoney, Caijing, ETF88.com, 360doc, AH Radio, CNFOL.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 New York Times, Dallas Morning News, Valor Econômico, The Wall Street Journal, FIXGlobal Trading, TODAY Online, Oriental Daily News and Business Times.

Mr. Perez has been engaged to present to 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, University of International Business and Economics (Beijing), Courant Institute of Mathematical Sciences at New York University, Hult International Business School (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 Cyber Security World Conference 2014 (New York), Inside Market Data 2013 (Chicago), Emerging Markets Investments Summit 2013 (Warsaw), CME Group‘s Global Financial Leadership Conference 2012 (Naples Beach, FL), Harvard Business School’s Venture Capital & Private Equity Conference (Boston), MIT Sloan Investment Management Conference (Cambridge), High-Frequency Trading Leaders Forum (New York, Chicago), 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. Previously, he managed Operations and Technology for Peruval Finance. Mr. Perez has an undergraduate degree in Systems Engineering 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. Mr. Perez resides in the New York City area with his wife Olga, son Edgar Felipe and daughter Svetlana Sofia.

Standard
Business, Cloud Computing, Cyber Security, Cybersecurity, Data Breach, Defense, E commerce, Finance, IT Security, Security, Technology

Agencies fall short of White House targets for cybersecurity

The White House continues to see an upward trend in new cybersecurity practices governmentwide, but the Obama administration is finding that not all agencies are living up to the cyber standards it set forth in last year’s cross-agency priority goals.

Published with the 2015 budget, the cross-agency priority (CAP) goals focus on longstanding and critical issues affecting agencies across the federal government. Cybersecurity — one of the first mentioned of the White House’s 15 CAP goals — is a mission-based goal to “[i]mprove awareness of security practices, vulnerabilities, and threats to the operating environment, by limiting access to only authorized users and implementing technologies and processes that reduce the risk from malicious activity,” according to a goal statement. It says the president views cybersecurity as “one of the most serious national security, public safety, and economic challenges we face as a nation.”

Read More

Standard
Business, Cloud Computing, Cyber Security, Data Breach, Defense, Finance, IT Security, Security, Technology

North Korea boosts cyber army to 6,000 troops to cause ‘physical and psychological paralysis’

North Korea has boosted its “cyber army” in a bid to cause “physical and psychological paralysis” in the South.

According to the South Korean Defence Ministry’s latest white paper, the hermit state’s military unit, which is dedicated to cyber activities, is now double that of South Korea’s.

“North Korea is currently running its 6,000 (member) workforce for cyber warfare and performing cyberattacks for physical and psychological paralysis inside South Korea such as causing troubles formilitary operations and national infrastructures,” said the South Korean Defence Ministry.

In 2013, South Korea blamed Pyongyang for the raft of crippling cyber attacks on its banks and broadcasters.

Standard
Business, Cloud Computing, Cyber Security, Cybersecurity, Data Breach, Defense, Finance, IT Security, Security, Technology

North Korea is doubling its skilled cyber security staffers

NORTH KOREA IS REPORTEDLYdoubling the number of its highly skilled cyber soldiers while still denying claims that it ever maliciously hacked anyone.

In case you missed it, North Korea has been accused of hacking like a dry cough. The country has had more fingers pointed at it than a button, and has got rather comfortable with denyingaccusations that it has done things like tear apart Sony Pictures Entertainment.

Now it is accused of doubling its cyber warfare posse, called Bureau 121, which the last time anyone checked was made up of some 3,000 skilled staffers.

Today, according to reports, including this one on Reuters, that number is 6,000 if South Korea is to be believed.

A white paper from the South Korean Defence Ministry said that the enlarged unit will be used to bring mischief on the South, and possibly other countries and their utilities.

Standard
Business, Cloud Computing, Cyber Security, Cybersecurity, Data Breach, Defense, Finance, Government, IT Security, Security, Technology

SONY HACK SIGNALS ‘NEW NORMAL’ IN CYBERSECURITY

The Sony hack copied a multinational company’s financial documents, its employees’ personally identifiable information and years’ worth ofembarrassing – and poorly written, it must be said – emails from high-level executives and released them all for the world to see.

But for many cybersecurity observers, the real eye opener was how the hack illustrates today’s cyber landscape: It’s likely to get worse before it gets better.

A growing collection of high-level computer security experts believe evidence points to aninsider-orchestrated attack, while the U.S. government quickly blamed and sanctioned North Korea, whose leader, Kim Jong-un, is portrayed in an unflattering fashion in the Sony-backed film, The Interview.

Meanwhile, as Sony’s image continues to tarnish with each leaked, scandalous revelation, the company experienced an added layer of suffering other data-breached companies — Target, Neiman Marcus and Home Depot — had avoided.

Read More

Standard
Business, Cloud Computing, Cyber Security, Data Breach, Defense, Finance, Government, IT Security, Security, Technology

Trend Micro Supports Cybersecurity Curriculum with Educational Grant

DALLAS, Jan. 7, 2015 /PRNewswire/ — Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in security software, has announced a $10,000 donation to the Mission College Center for Innovation and Technology (MC²IT). The grant will provide resources and expertise to advise and help enhance cybersecurity course curriculum. As the security and privacy industry continues to expand and evolve, Trend Micro is committed to encouraging students to enter the cybersecurity field while empowering them with the core competency to do so.

“As part of our responsibility to help keep the world safe for exchanging digital information, Trend Micro is helping MC²IT rebuild existing curriculums while recommending relevant courses,” said Raimund Genes, CTO, Trend Micro. “The addition of these types of courses will help students to become future experts and next generation leaders in cyber security.”

As a member of the MC²IT advisory board, Trend Micro and other security and privacy leaders recognize the challenges presented by a lack of skilled cybersecurity professionals. With the advent of new technology, experts and professionals will need training on how to investigate and manage corresponding threats.

“With the expertise and knowledge that Trend Micro and the security advisory board bring to MC²IT, we can bridge the gap between technology and education,” said Daniel Peck, president, Mission College. “We have the right people collaborating, bringing their passion to the security profession to motivate students and others interested in learning more about technology careers.”

Read More

Standard
Business, Cloud Computing, Cyber Security, Data Breach, Defense, Finance, IT Security, Security, Technology

Air Force evolves its cybersecurity as JIE comes into focus

The Air Force is moving beyond requiring airmen to use smart identification cards to log onto its computer network. The service now is making its network security even stronger.

Lt. Gen. Bill Bender, the Air Force’s chief of information dominance and chief information officer, said the use of role-based authentication should be “baked- into” its IT systems in the future.

Read More

Standard