Baruch College

Financial Markets Conferences

The Economic Function of a Stock Exchange

Date
Tuesday, October 4, 2011

Location
Baruch College
55 Lexington Avenue at 24th Street
William and Anita Newman Vertical Campus 14th floor, Conference Center
New York City

Conference Organizer
Robert A. Schwartz

 

Sponsors

AX Trading Network
BIDS Trading
Bloomberg Tradebook LLC
Chicago Board Options Exchange
Direct Edge
International Securities Exchange
ITG
Liquidnet
NASDAQ OMX
NYSE Euronext
Pipeline Trading Systems
TABB Group
Thomson Reuters

Shutterstock

 

Purpose

In recent years, exchanges on both sides of the Atlantic have been extensively reengineered, and their organizational structures have changed from non-profit, membership organizations to for-profit, demutualized organizations. Concurrently, new alternative trading systems have emerged and the traditional functions of broker/dealer firms have evolved. How have these changes affected the mission of a stock exchange and an exchange's ability to deliver on that mission? How has the efficiency of capital raising in the IPO market been impacted? These are among the key questions that the conference will address.


Registration
Registration fee of $495 (US) per attendee must be received by September 24, 2011.  After this date, registration will be $595 (US).  Please print the registration form and fax to Gretchen Schnee at 646-312-3530.  Call 646-312-3512 with any questions.

 

Program
8:00 Reception and Coffee
8:45

Greetings –

John A. Elliott, Dean Zicklin School of Business, Baruch College, CUNY
Robert Schwartz, Speiser Professor of Finance, Zicklin School of Business, Baruch College, CUNY
9:00

Opening Remarks

Robert Schwartz, Speiser Professor of Finance, Zicklin School of Business, Baruch College, CUNY

9:15

Opening Address

William Brodsky, Chairman & CEO, Chicago Board Options Exchange

9:45

What Makes an Exchange a Unique Institution?

Moderator

Andrew Brooks, T. Rowe Price Associates, Inc.

  • Alfred Berkeley, Pipeline Trading Systems, LLC
  • Gary Katz, International Securities Exchange
  • Brett Redfearn, J.P. Morgan Securities
  • William O'Brien, Direct Edge
  • Asani Sarkar, Federal Reserve Bank of New York
10:45 Refreshment Break
11:15

Mid-Day Address

Reto Francioni , CEO, Deutsche Börse AG

11:45

Competitive Challenges in the Exchange Space

Moderator –

Joe Cangemi, ConvergEx Group

  • Bill Harts, Thomson Reuters
  • Alasdair Haynes, Chi-X Europe
  • Rob Howe, Liquidnet
  • Peter Jenkins, AX Trading Network
  • Gary Stone, Bloomberg Tradebook LLC
  • John Sullivan, Pulse Trading
12:45 Lunch
1:45

Wherein Lie the Growth Opportunities?

Moderator –

Bruce Weber, Dean, Lerner College of Business and Economics, University of Delaware

  • Ian Domowitz, ITG
  • Pinar Emirdag, London Stock Exchange
  • Frank Hatheway, NASDAQ OMX
  • Tim Mahoney, BIDS Trading
  • Joe Rosen, RKA Inc.
  • Larry Tabb, TABB Group
3:00 Refreshment Break
3:30

IPO Capital Raising in the Global Economy

Moderator –

David Weild, Grant Thornton LLP

  • Joseph Hall, Davis, Polk & Wardwell LLP
  • Huseyin Erkan, Istanbul Stock Exchange
  • Barry E. Silbert, SecondMarket Inc.
  • Gregory L. Wright, ThinkEquity LLC
  • Steve Wunsch, Wunsch Auction Associates
4:30

Closing Address

Larry Leibowitz, COO, NYSE Euronext

5:00 Wine Reception