The secrets of high-frequencytrading revealed!
High-frequency traders have been called manythings from masters of the universe andmarket pioneers to exploiters, computer geeks,and even predators. Everyone in the businessof investing has an opinion of speed traders, buthow many really understand how they operate?The shadow people of the investing world, today shigh-frequency traders have decidedly kept a lowprofile until now.
In The Speed Traders, Edgar Perez, founderof the prestigious business networking communityGolden Networking, opens the door to thesecretive world of high-frequency trading (HFT).Inside, prominent figures of HFT drop their guardand speak with unprecedented candidness abouttheir trade.
Perez begins with an overview of computerizedtrading, which formally began onFebruary 8, 1971, when NASDAQ launchedthe world s first electronic market with 2,500over-the-counter stocks and which has evolvedinto the present-day practice of making multipletrades in a matter of microseconds. He thenpicks the brains of today s top players. ManojNarang (Tradeworx), Peter van Kleef (LakeviewArbitrage), and Aaron Lebovitz (Infinium CapitalManagement) are just a few of the luminaries whodecided to break their silence and speak openlyto Perez. Virtually all of the expertise availablefrom the world of speed trading is packed intothese pages.
You ll get insight from HFT s most influentialtrailblazers on the important issues, including:
- The basics of launching an HFT platform
- The important role speed traders play inproviding market liquidity
- The real story behind the flash crash ofMay 2010
- Emerging global HFT markets
- M&A and consolidation among the world sbiggest exchanges
The Speed Traders is the most comprehensive,revealing work available on the most importantdevelopment in trading in generations.High-frequency trading will no doubt play anever larger role as computer technology advancesand the global exchanges embrace fast electronicaccess.
The Speed Traders explains everything thereis to know about how today s high-frequencytraders make millions one cent at a time.
