Financial Markets Quality Conference to Address Questions Raised by Glitches and Propose Solutions

September 07, 2012
Georgetown Center for Financial Markets and Policy and the Financial Times to Host Policy Makers, Market Participants, and Scholars at Conference, Sept. 19
 
WHAT:          
The Georgetown Center for Financial Markets and Policy, housed in the university’s McDonough School of Business, and the Financial Times will host a timely conference on financial markets quality. The event will bring together policymakers, market participants, and scholars to discuss critical issues related to market quality and propose solutions for the future.
 
The conference will feature keynote addresses from:
  • Terrence Duffy, Executive Chairman and President, CME Group, Inc.;
  • Robert Engle, Michael Armellino Professor of Finance and 2003 Nobel Laureate in Economics, New York University Stern School of Business, and Distinguished Visiting Scholar, Georgetown Center for Financial Markets and Policy;
  • Daniel Gallagher, Commissioner, U.S. Securities and Exchange Commission; and
  • Maureen O’Hara, Robert W. Purcell Professor of Management and Professor of Finance, Cornell University Johnson Graduate School of Management.
In addition, panel discussions will cover the following topics:
  • What is securities market quality, and how should it be measured?
  • What is the empirical evidence on market quality?
  • How is the market quality of non-equity asset classes expected to change?
 
WHEN:  
Wednesday, September 19, 2012
9:30 a.m. to 5:30 p.m.
 
WHERE:       
Georgetown University McDonough School of Business
Rafik B. Hariri Building
37th & O Streets, NW
Washington, D.C.
 
RSVP
Those interested in attending the event should RSVP online at http://financialmarketquality.eventbrite.com.
 
Media who are interested in covering the event should contact Teresa Mannix, director of media relations, at (202) 687-4080 or tmm53@georgetown.edu.
 
PROGRAM:
 
9:30 a.m. – Welcome
  • Reena Aggarwal, Director of the Georgetown Center for Financial Markets and Policy and McDonough Professor of Business Administration and Professor of Finance
  • David A. Thomas, Dean, Georgetown McDonough
 
10 a.m. – Opening Keynote
 
Maureen O’Hara, Cornell University
 
10:30 a.m. – Panel: What is securities market quality, and how should it be measured?
 
What factors help or hurt securities market quality? How does market quality impact different classes of investors? What is the role of regulation in enhancing market quality? How does market quality relate to systemic risk? What can be done to enhance market quality?
 
Moderator: Michael MacKenzie, Financial Times
 
Speakers: Andrew Brooks, T. Rowe Price; Chris Isaacson, BATS; Eric Noll, NASDAQ OMX; and Joseph Mecane, NYSE Euronext
 
Noon – Luncheon Keynote
 
Terrance A. Duffy, CME Group, Inc.
 
1:30 p.m. – Panel: What is the empirical evidence on market quality?
 
Based on data analysis, has market quality improved or deteriorated over time? What is the empirical evidence on the role of alternative trading systems, algorithmic trading, high frequency trading, dark pools, and new trading technology on market quality?
 
Moderator: James Angel, Georgetown University
 
Paper Presenters: Joel Hasbrouck, New York University; Ingrid Werner, Ohio State University; and Terry Hendershott, University of California, Berkeley
 
Discussants: Richard Gorelick, RGM Advisors; Frank Hatheway, NASDAQ OMX; and Lawrence Harris, University of Southern California
 
3 p.m. – Nobel Laureate Keynote
 
Robert Engle, New York University and Georgetown Center for Financial Markets and Policy
 
3:45 p.m. – Panel: How is the market quality of non-equity asset classes expected to change? 
 
How will implementation of Dodd-Frank and the Volcker Rule impact trading of bonds, derivatives, and foreign exchange markets? What changes are expected in the transparency and competitiveness of non-equity markets?
 
Moderator: Ian Domowitz, ITG
 
Speakers: Chris Concannon, Virtu Financial; Andrei Kirilenko, CFTC; and Christopher Rice, State Street Global Advisors
 
5 p.m. – Closing Keynote
 
Daniel Gallagher, U.S. Securities and Exchange Commission
 
About the Georgetown Center for Financial Markets and Policy
Offering innovative and influential thought leadership, the Georgetown Center for Financial Markets and Policy, housed within the Georgetown University McDonough School of Business, fosters discussion on critical policy and regulatory issues related to global financial markets. The center hosts dialogues, conferences, and events involving industry, academia, and policymakers; provides a non-partisan forum for informed discussion; sponsors relevant and impactful research on key global market issues; and engages students interested in finance. For more information, go to http://finpolicy.georgetown.edu or follow us on Twitter @GUFinPolicy.
 
About Georgetown University’s McDonough School of Business
Georgetown University’s McDonough School of Business is a premier business school located at the center of world politics and business in Washington, D.C. Some 1,400 undergraduates, 1,000 MBA students, and 1,200 participants in executive education programs study business with an intensive focus on leadership and a global perspective. Founded in 1957, the business school today resides in the new Rafik B. Hariri Building, a state-of-the-art facility that blends the tradition of Georgetown University with forward-thinking functionality.