The Speed Traders

The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (ISBN 978-0-07-176828-3) is a book on high-frequency trading (HFT) authored by Edgar Perez and published by McGraw-Hill Inc.

The author provides an introduction into the HFT phenomenon. The Speed Traders defines HFT, follows its development in the form of a timeline, clarifies its role and discusses its future prospects within the financial community.

Key themes in HFT are highlighted based on the observations and comments of industry practitioners — fund managers, chief executives, quants and academics. Interviews with relevant HFT players such as M3 Capital’s founder John Netto, Aaron Lebovitz from Infinium Capital and Manoj Narang from Tradeworx present inside information on the operations of high-frequency trading firms, how these interact with overall market structure and their application of new technologies.

The author performs a thorough examination of the 2010 Flash Crash, incident that led to a significant decline in the value of U.S. stocks on May 6, 2010. The author strives to provide a balanced view of the facts behind the role high-frequency traders and sophisticated technologies played during this incident.

Publishing Information

The book has been published in several languages: English by McGraw-Hill Inc. (The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, 2011), Mandarin Chinese by China Financial Publishing House, 2012) and Bahasa Indonesian by Kompas Gramedia (Investasi Super Kilat: Pandangan Orang dalam tentang Fenomena Baru Frekuensi Tinggi yang Mentransformasi Dunia Investasi, 2012).

Reviews

• Book Review: 'The Speed Traders', seekingalpha, May 5, 2011
• The Speed Traders, Futures, May 24, 2013