The Speed Traders: An Insider's Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World

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May 6, 2011


Electronic book text, 256 pages

Other Formats


0071768300 / 9780071768306

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Main description

The secrets of high-frequency trading revealed!

"Edgar's book is fantastic . . . I recommend it highly." --Bart Chilton, Commissioner, United States Commodity Futures Trading Commission (CFTC)

"I have interviewed the most successful high-frequency traders in New York and Chicago, but I have learned so much more by reading Perez's book. He covers the most relevant topics we need to know today and tomorrow." --Mark Abeshouse, Chairman, Augustus Capital

"Alternating between an annotated timeline of the development of high-frequency trading and interviews with top high-frequency traders, Perez illuminates the world of speed. All in all, an enlightening book." --Brenda Jubin, contributor to Seeking Alpha

"This is a comprehensive and compelling summary of the trading industry in general, as well as high-frequency trading. If you are interested in this field or of knowing a critical component of all future markets--read this book." --Paul Dowding, Managing Director, Meridian Equity Partners

"Very timely, covers the 2010 Flash Crash and the current high-frequency trading environment." --Patrick Sweeney, Vice President, JP Morgan Chase

"There is a new day in trading and speed is the key. Edgar Perez is the poster child." --Eugene Steele, Managing Partner, Trading Rooms World Wide

About the Book:

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 The Speed Traders, Edgar Perez, founder of the prestigious business networking community Golden Networking, 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.

Perez 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), Peter van Kleef (Lakeview Arbitrage), and Aaron Lebovitz (Infinium Capital Management) are just a few of the luminaries who decided to break their silence and speak openly to Perez. Virtually all of the expertise available from the world of speed trading is packed into these pages.

You'll get insight from HFT's most influential trailblazers on the important issues, including:

  • The basics of launching an HFT platform
  • The important role speed traders play in providing market liquidity
  • The real story behind the "flash crash" of May 2010
  • Emerging global HFT markets
  • M&A and consolidation among the world's biggest exchanges

The Speed Traders 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.

Essential reading for regulators and investors alike, The Speed Traders explains everything there is to know about how today's high-frequency traders make millions--one cent at a time.

Table of contents

Chapter 1. Manoj Narang (Tradeworxs); Chapter 2. Stuart Theakston (GLC Ltd.); Chapter 3. Mark Holt (BlueCrest Capital); Chapter 4. Aaron Lebovitz (Infinium Capital Management); Chapter 5. Richard Flom, Systematic Alpha Management's Head Trader; Chapter 6. Aaron Lebovitz, Infinium Capital Management's Managing Director; Chapter 7. Peter Van Kleef, Lakeview Arbitrage's CEO; Chapter 8. Francois Magny (Starmark Proprietary Trading Ltd.)

Author comments

Edgar Perez is a former McKinsey & Company consultant; founder of Golden Networking, the premier networking community for business executives, entrepreneurs, and investors; and host of High-Frequency Trading Happy Hour business receptions in New York City, Chicago, Hong Kong, Singapore, and London.

Perez has been featured on CNBC Cash Flow, BNN Business Day,, Channel NewsAsia Cent & Sensibilities, and in The Wall Street Journal, The New York Times, The Dallas Morning News, Los Angeles Times, iMoney Hong Kong, Hedge Fund Brief, Oriental Daily News Hong Kong, and other publications. He has spoken at Harvard Business School's 17th Annual Venture Capital & Private Equity Conference, High-Frequency Trading Leaders Forum 2011, CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University, Global Growth Markets Forum, and other events.

Copyright 2014 McGraw-Hill Global Education Holdings, LLC


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