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.


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.


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.


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.

Cloud Computing, Cyber Security, IT Security, Security, Technology

Cyber threats increase, new international net cops needed – Kaspersky to RT

With cyber-attacks on the financial sector and state sponsored attacks on the internet on the up, a new international organization to police cyber space is needed Eugene Kaspersky, Chairman and CEO of Kaspersky Lab, told RT.

Kaspersky Lab is one of the fastest growing and largest private IT security providers in the world.

Reuters/Sergei Karpukhin

RT: It seems cyber security is the talk at Davos, have you noticed an increase in the tension, and why this year?

Eugene Kaspersky: You are absolutely right that cyber security issues are in the focus of many discussions here in Davos and attention to cyber security is increasing year by year. And it’s very easy to understand why, because cybercrimes are getting more professional, they are big enterprises. The financial sector is under attack. There are a lot of state sponsored attacks on the internet. Unfortunately the situation with cyber threats is getting worse and worse year by year.

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Cloud Computing, Cyber Security, IT Security, Security, Technology

State of the Union address disappoints security experts

In his State of the Union address Tuesday night, President Barack Obama promised to protect a free and open Internet and urged Congress to pass cybersecurity legislation, but the lack of concrete movement forward was a disappointment for many security experts.

011215 president barack obama

“No foreign nation, no hacker, should be able to shut down our networks, steal our trade secrets, or invade the privacy of American families, especially our kids,” Obama said.

“But we are making sure our government integrates intelligence to combat cyber threats, just as we have done to combat terrorism. And tonight, I urge this Congress to finally pass the legislation we need to better meet the evolving threat of cyber-attacks, combat identity theft, and protect our children’s information. That should be a bipartisan effort.”

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Cloud Computing, Cyber Security, IT Security, Security, Technology

Do as I say, not as I do: Most law firms lack adequate cyber protection

Cyber threats are on the radar for most law firms in their overall risk management, yet many lack in their preparedness against a significant event, Marsh’s 2014 Global Law Firm Cyber Surveyreveals.

For law firms, protecting the confidential data of clients and the firm is imperative as any unintended leak of information related to intellectual property or a prominent legal case can be disastrous. A security breach could potentially harm business transactions, halt a pending merger or acquisition, or damage relationships. Furthermore, firms could face financial burdens associated with the expenses following a breach. First-party costs can mount from notification expenses, business interruption issues, or preparing a regulatory defense.

It is no surprise that 79% of survey respondents view cyber and privacy security as one of their top 10 risks in their overall strategy, and more than 40% of those would place it as an even more critical threat, listing it as one of their firm’s top five risks.

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Cloud Computing, Cyber Security, IT Security, Security, Technology

Britain announces new support for cyber security firms

The British government on Friday announced a series of new measures to help its businesses face the “cyber security challenge” and support its cyber security firms to tap into the US market.

The new measures were announced when British Prime Minister David Cameron was on a two-day state visit to the United States for talks with US President Barack Obama.

Downing Street said “cyber security is high on the agenda as the government steps up its efforts to combat cyber threats against the industry.”

A group of 12 British cyber security firms were also traveling to Washington to meet a host of US businesses, in a bid to win more British business for the growing sector.

As part of the new measures, Britain appointed a new cyber security envoy, Andy Williams, to help British small businesses and first-time exporters promote their business interests across the United States.

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Cyber Security, Defense, Finance, IT Security, Security, Technology

U.S. industry too complacent about cyber risks, say experts

According to Reuters, after warning for years that the U.S. electric grid and other critical infrastructure are dangerously vulnerable to hacking, security experts fear it may take a major destructive attack to jolt CEOs out of their complacency.

While awareness about cybersecurity has increased in recent years, infrastructure consultants say the industry remains reluctant to spend the money needed to upgrade their aging equipment – especially in the absence of much pressure from the U.S. government, regulators or shareholders.

Digital Bond Founder and CEO Dale Peterson talks during a Reuters CyberSecurity Summit in Washington, May 12, 2014. REUTERS/Larry Downing

“I’m convinced the C-level executives don’t understand the risks they’re accepting,'” Digital Bond CEO Dale Peterson, a leading expert in industrial control systems, told the Reuters Cybersecurity Summit in Washington this week.

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Cyber Security, Defense, IT Security, Security, Technology

Cyber Security : Yahoo technical support toll free number

That is surprising and increasing use of the internet make them vulnerable to cyber threats. The young and the old, all our becoming highly technology-dependent day by day. But having said that one cannot disregard the usefulness of internet connectivity. So, instead of completely restricting the use of the internet, one can take steps to counter cyber threats. The belief should be, that one can be aware of the vulnerabilities and threats posed by the cyber world.

With knowledge, comes awareness.  Phishing, snooping, malware, financial fraud, identity theft, botnet and spam attacks etc., all of these should be explained to the netizens by organizing routine drives or broadcasting tutorial videos on how to keep safe on the borderless world of the internet. Many Cyber security software firms routinely hold cyber security awareness drives. That’s more effective than money spent on advertising. Security solutions should be the priority and ensuring quick response to the cyber threats.

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