Baruch College

14th Annual Equity Markets Microstructure Seminar

                  Maximizing the Value of an Educational Trading Room

 

Dates
February 23-24, 2017

Location
Baruch College
Wasserman Trading Floor
Subotnick Center
151 East 25th Street, New York City
http://www.baruch.cuny.edu/map.html

Organizers
Robert A. Schwartz
Zicklin School of Business
Baruch College, CUNY

Bruce W. Weber
Lerner College of Business & Economics
University of Delaware

Gregory Sipress
TraderEx

Trevor T. Moores
Zicklin School of Business
Baruch College, CUNY

Sponsors

Bloomberg Institute

S&P Global Market Intelligence

Purpose
Educators seek to provide rich, immersive opportunities for students to apply classroom materials to real world situations, and this is where trading rooms can have a key role to play. Trading rooms typically enable students to obtain and use real time, fundamental company and market information that is relevant for making corporate decisions, primarily with respect to trading and investing.  But passively accessing information in a trading room is not enough. Students must be able to actively link this information and make decisions based on the concepts presented to them in classrooms and textbooks. Only when they can experience what is involved in acting on market information, will their trading room learning truly come alive. How can this be accomplished? The purpose of the seminar is to answer this question with examples, discussions, and sample materials for use.

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, 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.


Registration

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!

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 to find the best deals.

PROGRAM

Thurs.
Feb 23

 

 

8:15
Registration and Coffee
8:45
Welcoming Remarks: H. Fenwick Huss, Dean, Zicklin School of Business
9:00 Innovative Uses of Trading Floors Across the Academic Curriculum - Moores
9:30

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

10:15 Coffee Break
10:45

Liquidity, Volatility, and Price Discovery: How Are They Related? –  Schwartz

11:15

Simulation as a Learning Tool – Weber

12:30 Lunch
1:15

Simulation: An Order Driven Market – Sipress & Weber

3:15 Coffee Break
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 
5:30

Displays and Discussion with Sponsors

6:30

Cocktails and Dinner –  The Blue Bell Cafe, 293 Third Avenue (between 22nd and 23rd Streets)

8:30

Day One concludes

 

 

Fri.
Feb 24
8:30 Coffee
9:00

Simulation: Block Trading – Sipress & Weber

10:00 Simulation as a Research Tool – Schwartz & Sipress
10:30

Coffee Break

11:00 Your Financial Data Needs on Campus  Howard Bernheim, S&P Global Market Intelligence
11:30 Algorithmic Trading in an HFT Environment – Sipress
12:00 Lunch
1:30

Conference concludes