14th Annual Equity Markets Microstructure Seminar
Maximizing the Value of an Educational Trading Room
Bruce W. Weber
Trevor T. Moores
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, Weber and Sipress, that enables participants to enter orders into a computer-driven market that generates order flow, and responds directly to participants’ orders. Participants can see their results in real-time, and can analyze their decisions after a simulation run. Continuous order 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.
The registration fee is $275, which covers seminar materials, lunches and a gala dinner. To register, please print the registration_form and fax to: Eileen Stempel at 646-312-3530 or email Eileen.Stempel@baruch.cuny.edu following instructions on registration form. Seating is limited!
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Registration and Coffee
Welcoming Remarks: H. Fenwick Huss, Dean, Zicklin School of Business
|9:00||Innovative Uses of Trading Floors Across the Academic Curriculum - Moores|
Discussion: Trading vs. Investing
Moderator: Justin Schack, Rosenblatt Securities; Panelists: Mahendrarajah Nimalendran, University of Florida, Deniz Ozenbas, Montclair State University, Akin Sayrak, University of Pittsburgh
Liquidity, Volatility, and Price Discovery: How Are They Related? – Schwartz
Simulation as a Learning Tool – Weber
Simulation: An Order Driven Market – Sipress & Weber
|3:30||Connecting with Bodie, Kane and Marcus, Investments – Weber|
|4:00||University Finance Labs 101 – Rob Langrick, Bloomberg Institute|
|4:30||Call Auction Trading – Schwartz, Sipress and Weber|
Displays and Discussion with Sponsors
Cocktails and Dinner – The Blue Bell Cafe, 293 Third Avenue (between 22nd and 23rd Streets)
Day One concludes
Simulation: Block Trading – Sipress & Weber
|10:00||Simulation as a Research Tool – Schwartz & Sipress|
|11:00||Your Financial Data Needs on Campus – Howard Bernheim, S&P Global Market Intelligence|
|11:30||Algorithmic Trading in an HFT Environment – Sipress|