For Immediate Release

Julia Petrova Media Relations Coordinator Knightmare on Wall Street 516-761-4712 info@knightmareonwallstreet.com http://www.knightmareonwallstreet.com

SEC's Guidance Needed After Nasdaq's Freeze, Edgar Perez to CNBCs Carl Quintanilla and Kelly Evans
Edgar Perez, Author, The Speed Traders, and Course Director, The Speed Traders Workshop, Introduces Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, a Behind-the-scenes Look at Knight Capitals 17 years of Tumultuous Existence as an Independent Company
(December 3, 2013, New York) Market participants appreciate visible leadership that goes beyond statements sent though by a press office. Both individual and institutional investors would have felt more comfortable yesterday if they had seen the SEC chairman, Mary Jo White, discussing the NASDAQ issue and the steps the SEC was taking to monitor their efforts to resume trading, said Edgar Perez, author of Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets (http://www.KnightmareonWallStreet.com) and The Speed Traders (http://www.TheSpeedTraders.com), to CNBC's Squawk On The Street's anchors Carl Quintanilla and Kelly Evans. The full interview can be accessed at http://video.cnbc.com/gallery/?play=1&video=3000193177. As informed by NASDAQ on the day of the infamous flash freeze, price quotes were not being disseminated by the Securities Information Processor (SIP) for three hours. There was a connectivity issue, which led to degradation in the ability of the SIP to disseminate consolidated quotes and trades. After the cause of the issue, The Flash Freeze, was identified and addressed, trading resumed at 3:25PM. The SIP is supposed to be robust enough to handle 500,000 messages per second, according to a January 2013 systems test, but that capacity was degraded by the flood of quote updates from NYSE Arca, which topped out at 26,0000 per second on each of the SIPs 50 ports. That stream of messages from NYSE Arca 26 times greater than usual August activity exposed a software flaw that made the SIP incapable of tripping its fail-safe and continue operating. It remains unclear what caused the surge in messages from NYSE Arca to Nasdaqs SIP, and while Nasdaq says it identified the problem and had its data feeds operational within 30 minutes it still took more than three hours to reopen trading. Readers will discover in Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, a thrilling minute-by-minute account of the terrifying hours following Knight Capitals

August 1, 2012 trading debacle, with news-breaking research regarding the firms 17 years of tumultuous existence as an independent company. Knightmare on Wall Street provides a fascinating account of what it took to elevate the firm to the cusp of the retail investing revolution of the late 1990s, to struggle through booms and busts, and to bring the firm down, to end up ultimately being ignominiously bought up by a competitor. 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 Ingeniera, 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 and is an accomplished salsa and hustle dancer. ###