9th 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 |
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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 Gretchen.Schnee@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!
We can email you a list of hotels within walking distance of Baruch College. We have no special rates or blocked rooms with these hotels. They are only suggestions based on their proximity to the school. We also strongly suggest using travel websites like hotels.com or expedia.com to find the best deals.
PROGRAM | |||
Thurs. |
Using Trading Floors: Workshop | ||
| 8:15 | Registration and Coffee | ||
| 8:30 | Welcoming Remarks | ||
| 8:45 | Presentation - Ryan Cahoy, Rise Display | ||
| 9:15 | Innovative Uses of Trading Floors Across the Academic Curriculum – Holowczak | ||
| 10:00 | Coffee Break | ||
| 10:30 | Simulation as a Learning Tool – Schwartz, Sipress & Weber |
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| 12:00 | Presentation – Alice Heerse & Howard Bernheim, Capital IQ | ||
| 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 | From Demand Curves to Market Outcomes: An Economics Application – Schwartz |
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| 3:15 | Coffee Break | ||
| 3:30 | Call and Continuous Trading: 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 Black Duck Restaurant 122 East 28th Street, Between Park and Lexington Avenues |
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| Fri. Nov 11 |
8:30 | Coffee | |
| 9:00 | Quote Driven Market: Simulation – Sipress & Weber |
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| 10:30 | Coffee Break | ||
| 11:00 | Presentation - Gary Katz, International Securities Exchange | ||
| 11:30 | Dark Pools and Block Trading: Simulation – Sipress & Weber |
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| 1:00 | Lunch | ||
| 2:30 | Conference ends | ||
