Accenture Trading at 1 Cent Madness Explained at The Speed Traders Workshop 2012 New York, Chicago, Dubai, Shanghai and London
Edgar Perez, Author, The Speed Traders, Speaker at The Speed Traders Workshop 2012, How Algorithmic and High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (Hong Kong, Sao Paulo, Seoul.
On Thursday afternoon May 6, 2010, the S&P 500 dropped almost 9% before recovering. For 15 minutes things felt like pure panic. But it was a lot different than one of the largest panics in market history, Black Monday of 1987, when the S&P 500 fell 20.4% in a day. Think about it in terms of scale: a day vs. minutes, or broad drops versus a number of haywire stocks. On that Thursday, the S&P slowly fell 3% during the day before plunging and recovering more than 5% between 2:45 and 3:00 p.m. Manic selling occurred in a much shorter timeframe on Thursday. Philip Morris International dipped more than 15% in just 15 minutes before recovering. And yes, Accenture dropped from $40 to a penny in the same time.
Someone actually bought Accenture at the price; according to Thomson Reuters there were 19 trades in Accenture stock at 1 cent. The 100-share blocks were bought in less than 10 seconds. All but one went through the CBOE Stock Exchange, whose electronic exchange was melting down. It couldn't draw any bids so the stock fell to a penny from $41 (and then returned right back to $40). That would be a 400,000% gain in seconds, but the CBOE ultimately cancelled the trades.
The Speed Traders Workshop 2012 New York will reveal how high-frequency trading players are succeeding in the global markets and driving the development of algorithmic trading at breakneck speeds from the U.S. and Europe to India, Singapore and Brazil. The Flash Crash, the suspended BATS IPO, the botched Facebook IPO and Knight Capital's trading malfunction are just a few of the events in the history of high-frequency trading that will be dissected at The Speed Traders Workshop 2012.
Perez is widely regarded as the preeminent global expert in the specialized area of high-frequency trading. He is 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 by McGraw-Hill Inc. (2011), in Mandarin by China Financial Publishing House (2012) and currently being translated into Bahasa Indonesia. He is course director of The Speed Traders Workshop 2012, How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (Hong Kong, Sao Paulo, Seoul, Kuala Lumpur, Warsaw, Kiev, New York, Singapore, Beijing, Shanghai, Jakarta, London, Mexico City, Moscow, Ho Chi Minh, New York, Dubai and Chicago), and was Adjunct Professor at the Polytechnic Institute of New York University, where he taught Algorithmic Trading and High-Frequency Finance. He contributes regularly to The New York Times and China's International Finance News.
Perez has been interviewed on CNBC Cash Flow, CNBC Squawk Box, BNN Business Day, CCTV China, Bankier.pl, TheStreet.com, Leaderonomics, GPW Media, Channel NewsAsia Business Tonight and Cents & Sensibilities. In addition, Perez has been featured on 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, International Finance News, hexun.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.
Perez has been engaged to present to the CME Group's Global Financial Leadership Conference 2012, U.S. Securities and Exchange Commission (Washington DC), 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 (Shanghai) and Pace University (New York), among other public and private institutions. In addition, Perez has spoken at a number of global conferences, including Harvard Business School's Venture Capital & Private Equity Conference (Boston), High-Frequency Trading Leaders Forum (New York, Chicago), MIT Sloan Investment Management Conference (Cambridge), 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).
Perez was a vice president at Citigroup, a senior consultant at IBM, and a strategy consultant at McKinsey & Co. in New York City. Perez has an undergraduate degree from Universidad Nacional de IngenierÃa, 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. Perez resides in the New York City area.
The Speed Traders Workshop 2012 is produced by Golden Networking (www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net.
Contact:
Julia Petrova
Golden Networking
New York, NY
+1-516-761-4712
jpetrova@thespeedtraders.com
http://www.High-Frequency-Trading-Conference.com
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Categories: Finance
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