What Michael Lewis' Flash Boys Gets Wrong about HFT at The Speed Traders Workshop 2014 Singapore

Released on: August 07, 2014, 3:32 am (EDT)
Industry: Financial

Edgar Perez, former McKinsey and IBM consultant, is a global expert, author of The Speed Traders, Knightmare on Wall Street, and the course director of The Speed Traders Workshop 2014 Singapore, "How Banks, Hedge and Mutual Funds and Brokers Battle Markets 'RIGGED' by Wall Street's 'Flash Boys', High-frequency Trading, Exchanges and Dark Pools"

New York, NY, August 07, 2014 -- /EPR NETWORK/ -- Michael Lewis has spent quite a bit of time promoting his book about high-frequency trading (HFT). In the morning after its release, he went on NBC’s Today show. By midday he was on CNBC, taking in part in a battle royal over the merits of HFT with key players. Lewis’s TV publicity tour started big with an appearance on 60 Minutes.

Lewis’s book, Flash Boys, has driven a huge amount of attention toward the topic of high frequency trading, and it has rekindled some of basic arguments over its impact on markets and investors. The new book is typical Lewis, as Bloomberg’s Matthew Phillips said. “It’s a page-turner that reads like a novel and succeeds in making complex topics accessible to non-experts. By taking seemingly disparate developments—the secretive race to build underground, super-fast fiber optic cables, the 2009 arrest of a Goldman Sachs computer programmer—Lewis stitches together a compelling, character-driven narrative to walk readers through the immense changes the financial markets have undergone over the past decade.”

However, is the book is right about HFT and its impact on American investors? The Speed Traders Workshop 2014 Singapore, "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), the first and most comprehensive initiation to the world of high-frequency trading., 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. Further information about this workshop can be found at http://thespeedtradersworkshop.com.

The Speed Traders Workshop 2014 Singapore covers 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 fascinating story of Knight Capital put together by course director Edgar Perez, was the most favorably reviewed Kindle edition book on Amazon in 2013, with an average rating of 5 out of five stars. Knight Capital, 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.

Mr. Perez is widely regarded as the preeminent global expert and speaker in the specialized areas of algorithmic and high-frequency trading. He is also author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, published in English, Chinese and Bahasa Indonesia. He contributes to The New York Times, UltraHighFrequencyTrading.com and China’s International Finance News

Contact-Details: Julia Petrova
Knightmare on Wall Street
New York, NY

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