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This book is an augmented account of Technology and Regulation: How Are They Driving Our Markets?, a conference hosted by the Zicklin School of Business at Baruch College on May 1, 2007. The text includes the edited transcript of the full conference: four panels and the major presentations of three distinguished industry leaders - Ian Domowitz, Managing Director, ITG, Inc.; Erik Sirri, Director of the Division of Market Regulation, US Securities and Exchange Commission; and John Thain, who was CEO of NYSE Euronext at the time of the conference. The book also includes a related paper by Paul Davis, Mike Pagano, and myself: "Divergent Expectations," Journal of Portfolio Management, Fall 2007. My co-editors and I have worked diligently to make this book, like all the other popular books in the series, more than an historical record. John Byrne, Antoinette Colaninno and I have edited the manuscript heavily for clarity and unity of ideas.
List of contents
Preface.- Opening address: Ian Domowitz.- The impact of electronic trading technology.- Dialog with Erik Sirri.- Regulatory Initiatives: Implications for Competition and Efficiency.- What the Buy-Side Needs.- Market Quality: The Big Picture.- Dialog with John Thain.- Divergent Expectations.- Participant Biographies.- Index.
About the author
Robert A. Schwartz is Marvin M. Speiser Professor of Finance and University Distinguished Professor in the Zicklin School of Business, Baruch College, CUNY. Before joining the Baruch faculty in 1997, he was Professor of Finance and Economics and Yamaichi Faculty Fellow at New York University's Leonard N. Stern School of Business, where he had been a member of the faculty since 1965. Professor Schwartz received his PhD in economics from Columbia University. He has published over fifty journal articles and fifteen books. He has served as a consultant to various market centers including the New York Stock Exchange, the American Stock Exchange, NASDAQ, and Deutsche Börse, and has been an associate editor for several finance journals. In 1995, Professor Schwartz was named the first chairman of NASDAQ's Economic Advisory Board, where he served until the spring of 1999.
Summary
This book is an augmented account of Technology and Regulation: How Are They Driving Our Markets?, a conference hosted by the Zicklin School of Business at Baruch College on May 1, 2007. The text includes the edited transcript of the full conference: four panels and the major presentations of three distinguished industry leaders – Ian Domowitz, Managing Director, ITG, Inc.; Erik Sirri, Director of the Division of Market Regulation, US Securities and Exchange Commission; and John Thain, who was CEO of NYSE Euronext at the time of the conference. The book also includes a related paper by Paul Davis, Mike Pagano, and myself: “Divergent Expectations,” Journal of Portfolio Management, Fall 2007. My co-editors and I have worked diligently to make this book, like all the other popular books in the series, more than an historical record. John Byrne, Antoinette Colaninno and I have edited the manuscript heavily for clarity and unity of ideas.
