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.

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

Internet outage seen in North Korea amid U.S. hacking dispute

According to Reuter, North Korea, at the center of a confrontation with the United States over the hacking of Sony pictures, itself experienced Internet outages on Monday, a U.S. company that monitors Internet infrastructure said.

New Hampshire-based Dyn Research said the reason for the disruptions was not known but could range from technological glitches to a hacking attack. Several U.S. officials close to the investigations of the attack on Sony Pictures said the U.S. government was not involved in any cyber action against Pyongyang.

A hand is silhouetted in front of a computer screen in this picture illustration taken in Berlin May 21, 2013.  REUTERS/Pawel Kopczynski

U.S. President Barack Obama had vowed on Friday to respond to the major cyber attack, which he blamed on North Korea, “in a place and time and manner that we choose.”

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

Neglected Server Provided Entry for JPMorgan Hackers

The computer breach at JPMorgan Chase this summer — the largest intrusion of an American bank to date — might have been thwarted if the bank had installed a simple security fix to an overlooked server in its vast network, said people who have been briefed on internal and outside investigations into the attack.

A hack attack affected JPMorgan Chase this summer.

Big corporations like JPMorgan spend millions — $250 million in the bank’s case — on computer security every year to guard against increasingly sophisticated attacks like the one on Sony Pictures. But the weak spot at JPMorgan appears to have been a very basic one, the people said. They did not want to be identified publicly because the investigation into the attack is incomplete.

The attack against the bank began last spring, after hackers stole the login credentials for a JPMorgan employee, these people said. Still, the attack could have been stopped there.

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Cyber Security, Cybersecurity, IT Security, Security, Technology

Who’s Behind The Internet Outages In North Korea, Anyway?

North Korea blamed the U.S. and called President Obama a “monkey” today when the country’s Internet and mobile network went down for the third time this week. However, it’s still not clear who’s behind the Internet outages.

“Obama always goes reckless in words and deeds like a monkey in a tropical forest,” said the National Defence Commission, North Korea’s ruling body, as reported in Reuters.

Whether North Korea’s Internet was just down or the result of a cyber attack isn’t apparent at the moment. What is clear is that the U.S. government doesn’t want to talk about it. The White House hasn’t commented on the matter and a spokesperson from the State Departmenttold the press in a conference on Tuesday that it would also not be commenting on those reports “in any way.”

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

Golden Networking’s Cyber Security World Conference 2015 New York City to Strategize Sony’s Agenda Beyond North Korean Cyber Attack and The Interview

Cyber Security World Conference 2015 New York City

Cyber Security World Conference 2015 New York City

Headlines in recent weeks have been consumed with the news of a cyberattack that targeted Sony’s movie studio as it geared to release The Interview, film that describes a CIA attempt to assassinate North Korean leader Kim Jong- un.

The company now could face tens of millions of dollars in costs from the massive computer hack that hobbled its operations for days. Major costs include investigations into what happened, computer repairs or replacements, and steps to prevent a future attack. Lost productivity while operations were disrupted will add to the price tag.

The attack, believed to be the worst of its type on a company on U.S. soil, also hits Sony’s reputation for a perceived failure to safeguard information. Recently on October that U.S. President Barack Obama signed an executive order to strengthen security measures for federal credit cards, and urged banks and retailers to follow suit in an effort to combat cyber theft and identity fraud. Several major corporations would take steps to make their own systems more secure and offer more customer protections as well.

These recommendations came after many other large companies including Adobe Systems, Automated Data Processing, Citigroup, E*Trade Financial, Fidelity Investments, Home Depot, HSBC, JPMorgan Chase, Nasdaq OMX, Neiman Marcus, Target and Wal-mart had suffered high-profile cyber security breaches. It is not beyond the realm of possibilities to think that today the information of every American has already been compromised in any of these publicly disclosed attacks.

For instance, JPMorgan Chase, America’s largest bank with $2.39 trillion in assets, has revealed that about 76 million households and 7 million of small-business customers have been impacted by a cybersecurity attack in one of the most sweeping disclosed global breaches. Unknown attackers stole customers’ contact information, which included names, email addresses, phone numbers and addresses, affecting an amount equivalent to two-thirds of American households.

Cyber Security World Conference 2015 New York City (http://www.CyberSecurityWorldConference.com) will provide a platform for information security authorities and innovative service providers to distil their latest research for hundreds of senior executives focused on protecting enterprise and government valuable assets. Cyber security experts will discuss subjects such as protecting individuals and companies against cyber-attacks, biometrics as the future of security, risks brought by mobile computing, and protecting corporate and national infrastructure against foreign attacks.

Top-of-mind topics that Cyber Security World Conference 2015 will discuss include:

  • Cyber Security Megatrends Security Professionals can’t Ignore Today
  • Strengthening the Security of Industry-wide Technology Infrastructure
  • How Hackers Really Operate to Obtain Financial Data
  • Cyber Security and its Role in the Overall Security of the United States
  • Key Considerations about Security in the Internet of Things Age
  • Designing and Managing Effective Information Security Programs

Cyber Security World Conference 2015 is produced by Golden Networking, the premier networking community for business and technology executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to information@goldennetworking.com.

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Business, Cloud Computing, Cyber Security, cyber security legislation, Cybersecurity, E commerce, Education, Government, Healthcare, IT Security, Security, Technology

Cybersecurity Cooperation between China and United States to be Analyzed by The Speed Traders and Knightmare on Wall Street’s Edgar Perez at Golden Networking’s Cyber Security World Conference 2015 New York City

Cyber Security World Conference 2015 New York City

Cyber Security World Conference 2015 New York City

Cybersecurity has historically been a contentious issue between China and the United States, yet both countries would benefit from strategic cooperation in this area, according to the Capstone Report by the School of International and Public Affairs, Columbia University. The two global powers are vested stakeholders in an interconnected international system of trade, finance, and other globalized institutional systems. Cyber networks underpin the critical infrastructures of such systems, and cyber protection necessitates the information exchange of threats as well as coordinated efforts in managing defensive capabilities.

Because of the subtlety surrounding cultural values, it is necessary to pay attention to some distinct facets of Chinese culture, especially bureaucratic culture, which Chinese counterparts may reflect. To build productive dialogue, the report suggests, it is essential to understand the differences in culture and communications between the two countries. Unlike the U.S., Chinese strategic culture is characterized by ambiguity, disinformation and secrecy. Through this approach, China aims to achieve its strategic objectives, thereby “winning without fighting.” The way in which an entity shares information reflects its strategic culture, which in China is traditionally dominated by the state. Differences in cultural values and assumptions are usually invisible, often subconscious, and difficult to discern by an outside observer.

Amidst this critical differences, Edgar Perez (http://mredgarperez.com), author of Knightmare on Wall Street, will discuss the state of the cybersecurity dialogue between the United States and China at Cyber Security World Conference 2015 New York City (http://www.CyberSecurityWorldConference.com). The forum will provide a platform for information security authorities and innovative service providers to distil their latest research for hundreds of senior executives focused on protecting enterprise and government valuable assets. Cyber security experts will discuss subjects such as protecting individuals and companies against cyber-attacks, biometrics as the future of security, risks brought by mobile computing, and protecting corporate and national infrastructure against foreign attacks.

Mr. Perez has been engaged to present at the Council on Foreign Relations, Vadym Hetman Kyiv National Economic University (Kiev), U.S. Securities and Exchange Commission (Washington DC), Quant Investment & HFT Summit APAC 2012 (Shanghai), CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University, University of International Business and Economics (Beijing), Hult International Business School (London and Shanghai) and Pace University (New York), among other public and private institutions.

Mr. Perez is widely regarded as the preeminent global expert in technology and investing. He is the author of Knightmare on Wall Street and The Speed Traders and has been interviewed on CNN, CNBC, FOX BUSINESS, Bloomberg TV, CNN en Español, CCTV China, BNN, Bankier.pl, Leaderonomics, TheStreet.com, GPW Media, Channel NewsAsia’s Business Tonight and Cents & Sensibilities. Mr. Perez has been globally featured on FXFactor, Columbia Business, OpenMarkets, Sohu, News.Sina.com, Yicai, eastmoney, Caijing, ETF88.com, 360doc, AH Radio, CNFOL.com, CITICS Futures, Tongxin Securities, ZhiCheng.com, CBNweek.com, Caixin, Futures Daily, Xinhua, CBN Newswire, Chinese Financial News, ifeng.com, International Finance News, hexun.com, Finance.QQ.com, Finance.Sina.com, The Korea Times, The Korea Herald, The Star, The Malaysian Insider, BMF 89.9, iMoney Hong Kong, CNBC, Bloomberg Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News, Valor Econômico, FIXGlobal Trading, TODAY Online, Oriental Daily News and Business Times.

Mr. Perez was a vice president at Citigroup, a senior consultant at IBM, and a strategy consultant at McKinsey & Company in New York City. Mr. Perez has an undergraduate degree from Universidad Nacional de Ingeniería in Lima, Peru (1994), a Master of Administration from Universidad ESAN in Lima, Peru (1997) and a Master of Business Administration from Columbia Business School in 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 and is an accomplished salsa and hustle dancer.

About Cyber Security World Conference 2015

Renowned information security experts and innovative service providers will present at Cyber Security World Conference 2015 their latest thinking to hundreds of senior executives focused on protecting enterprises and governmental agencies.

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President Obama is urging Xi Jinping to stop cyberattacks to steal trade secrets and allow foreign companies to compete equally.
Cloud Computing, Cyber Security, Cybersecurity, Defense, E commerce, Education, Finance, Government, IT Security, Security, Technology

President Obama is Urging China to Stop Cyberattacks to Steal Trade Secrets and Allow Foreign Companies to Compete Equally

China must create “a playing field where competition policy promotes the welfare of consumers and doesn’t benefit just one set of companies over another,” Obama said during remarks Monday at the Asia-Pacific Economic Cooperation (APEC) forum.

“We look to China to become an innovative economy that values the protection of intellectual property rights, and rejects cyber theft of trade secrets for commercial gain,” he added.

The two countries have clashed repeatedly over cyberattacks this past year.

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