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Trading, Liquidity, and Market Structure
October 20, 2023 at 8:30 am - 5:00 pm EDT
Date:
Conference: October 20, 2023
Location:
Baruch College
Zicklin School of Business
151 East 25th Street
Wasserman Trading Floor
Subotnick Center
New York, NY 10010
Organizers:
Deniz Ozenbas
Co-Director, Schwartz Center, Zicklin School of Business
Baruch College, CUNY &
Professor, Feliciano School of Business
Montclair State University
Robert A. Schwartz
Co-Director, Schwartz Center, Zicklin School of Business
Baruch College, CUNY
Jonathan Wang
Co-Director, Schwartz Center, Zicklin School of Business
Baruch College, CUNY
Bruce W. Weber
Willem Kooyker Dean
Zicklin School of Business
Baruch College, CUNY
Sponsors:
 |
Security Traders Association (STA) |
Objective:
The objective of this seminar is twofold: (a) to call attention to how education concerning trading, liquidity and market structure topics can be integrated into business school programs, and (b) to enhance the dialogue between industry professionals and academics. In industry, trading is recognized as a professional activity; in academia, it typically is not. Students today can complete their business school courses without knowing about trading costs, liquidity, the complexities of price discovery, and the realities of market structure, and they can graduate clueless about what it takes for professional investors to implement investment decisions in real world, illiquid marketplaces. This knowledge is important, not only for people at trading desks, but also for portfolio managers, corporate executives, regulators, and technology developers.
Computer Simulation:
Experiential learning is increasingly prominent in business school education. An equity market simulation, TraderEx, will be used in the seminar. TraderEx is an interactive simulation model developed by Schwartz and Weber that enables participants to enter orders into a computer-driven market that generates order flow and responds directly to participants’ orders. Continuous order driven markets are simulated, along with call auctions, a block trading facility, and hybrid combinations. Participants gain experience by competing with each other in a networked environment.
Friday, October 20, 2023
8:30 am
Registration and Continental Breakfast
9 am
Welcoming Remarks: Linda Essig, Provost, Baruch College
9:10 am
Opening Remarks: Conference Organizers: Deniz Ozenbas, Montclair State University; Robert Schwartz, Jonathan Wang, and Bruce Weber, Zicklin School of Business, Baruch College
9:15 am
Keynote: Jim Toes, President and CEO, Security Traders Association (STA)
9:45 am
Coffee Break
10:00 am
Building a Bridge Between Academia and Industry (NVC Room 11-125)
Robert Schwartz and Deniz Ozenbas
10:45 am
Using Simulation as an Experiential Teaching Tool (NVC Room 11-125)
Bruce Weber
11:15 am
Simulated Trading – Order Driven Markets (NVC Room 11-125)
Bruce Weber, Zicklin School of Business, Baruch College and Andy Novocin, University of Delaware
1 pm
Return to Subotnick Center and Lunch
1:45 pm
Panel: Wall Street Goes to the Classroom
Moderator: Phil Mackintosh, Chief Economist, Nasdaq
William Freund, Former SVP & Senior Economist, NYSE
Steven Poser, Director Research, NYSE
Holly Stark, Bear Burrow Consulting LLC
Jonathan Wang, Zicklin School of Business, Baruch College
2:45 pm
Panel: The Classroom Goes to Wall Street
Moderator: James Ross, Green Impact Exchange
Nazli Sila Alan, Fairfield University
Akin Sayrak, University of Pittsburgh
Carol Osler, Brandeis University
Yajun Wang, Zicklin School of Business, Baruch College
3:45 pm
Conference Concludes
Registration
The registration fee is $275. This fee covers seminar materials, continental breakfast, and lunch.
Please print the registration form and fax to Eileen Stempel at 646-312-3530 or email to Eileen.Stempel@baruch.cuny.edu.
Requests for cancellations must be received in writing by October 12, 2023.
After you have registered, please submit payment by credit card.