11th Annual Equity Markets Microstructure Workshop
Teaching Microstructure and Running Trading Rooms
Dates Location |
Organizers Bruce W. Weber Richard Holowczak Gregory Sipress
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Sponsors Capital IQ, a Standard and Poor's Business |
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Purpose
This workshop examines the principles of trading and market structure, and will be a catalyst for introducing course materials into university economics, finance, IT, financial engineering, and other business programs. By the end of the seminar, participants will be able to incorporate a one- or two-session module into their courses and have the foundation materials for a trading and microstructure course that runs a half term or full term.
Computer Simulation
A market simulation, TraderEx, will be used extensively in the trading seminar. It is designed for broader use in business courses. TraderEx is an interactive simulation model originally 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. Participants see their results in real-time, and can analyze their decisions after a simulation run. Continuous order driven and quote driven markets are simulated, along with call auctions, a block trading facility and hybrid combinations. Participants also gain experience by competing with each other in a networked environment and assessing performance afterward.
Registration
The registration fee is $275, which covers seminar materials and meals. To register, email Lauren.Wheatley@baruch.cuny.edu with your name, address, job title, phone and fax numbers, and email address. We will then email you an invoice with payment instructions. Seating is limited!
Book A Hotel Right Away! NYC Hotel Rooms fill quickly!
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PROGRAM | |||
Thurs. |
Using Trading Floors: Workshop | ||
| 8:15 | Registration and Coffee | ||
| 8:30 | Welcoming Remarks | ||
| 8:45 | Presentation - Mary Ryan, thinkorswim by TD Ameritrade | ||
| 9:15 | Innovative Uses of Trading Floors Across the Academic Curriculum – Holowczak | ||
| 10:00 | Coffee Break | ||
| 10:30 | Simulation as a Learning Tool: |
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| 11:30 | Simulation as a Learning
Tool: |
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| 12:30 | Lunch | ||
| Teaching Microstructure: Seminar | |||
| 1:15 | The Economic Structure of an Order Driven Market: Simulation – Sipress & Weber |
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| 2:30 | Understanding the Causes of Fat Tailed Returns Distributions: A Simulation Analysis– Schwartz |
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| 3:15 | Coffee Break | ||
| 3:30 | The Economic Structure of a Quote Driven Market: Simulation – Sipress & Weber |
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| 4:45 | Presentation - Frank Hatheway, NASDAQ OMX | ||
| 5:15 | Displays and Discussion with Sponsors | ||
| 6:30 | Cocktails and Dinner – The Blue Bell Cafe 293 Third Avenue (between 22nd and 23rd Streets) |
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| Fri. Feb 7 |
8:30 | Coffee | |
| 9:00 | Presentation – Howard Bernheim, Capital IQ |
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| 9:30 | Developing Trading Scenarios with TraderEx: Simulation – Sipress & Weber |
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| 10:30 | Coffee Break | ||
| 11:00 | Presentation - Gary Katz, International Securities Exchange | ||
| 11:30 | From Demand Curves to Market Outcomes: Simulation – Sipress & Weber |
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| 1:00 | Lunch | ||
| 2:30 | Conference ends | ||
