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  • Conference proceedings
  • © 2013

The Quality of Our Financial Markets

Taking Stock of Where We Stand

  • Annual industry conference offered exclusively at Baruch College
  • Open dialogue with industry leaders
  • Current topics and trends and new ideas discussed?

Part of the book series: Zicklin School of Business Financial Markets Series (CUNY)

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Table of contents (6 papers)

  1. Front Matter

    Pages i-xiv
  2. High-Frequency Trading: Friend or Foe?

    • Jim Gatheral, Ari Burstein, Kevin Callahan, Charles-Albert Lehalle, Doreen Mogavero, Lawrence Ryan et al.
    Pages 1-16
  3. Mid-Day Address

    • Reto Francioni
    Pages 17-27
  4. May 6: Lessons Learned and Questions Raised

    • Andrew Brooks, Robert Gasser, Susan Greenglass, Gary Katz, Tim Mahoney, Joe Mecane et al.
    Pages 29-44
  5. The Needs of the Buy-Side: How Well Are They Being Met?

    • Rob Shapiro, Alfred Eskandar, Marie Konstance, Matt Lyons, Mary McDermott-Holland, David Palmer et al.
    Pages 45-64
  6. New Technology: What Does It Bring to the Table?

    • Marcus Hooper, Stuart Adams, Paul Britton, Joseph Cangemi, Jim Ross, Justin Schack et al.
    Pages 65-81
  7. Closing Remarks

    • Richard Ketchum
    Pages 83-88

About this book

The structure and operations of the US equity markets have evolved dramatically in recent decades with the advent of major technology and regulatory changes.  Nothing short of a groundbreaking shift has occurred in the securities industry as the transition has been made from predominantly manual, human intermediated trading to predominantly electronic trading.  By many measures, commission, spreads and market impact costs have been dramatically reduced in recent years. But does that mean that market quality has improved? That is the key question addressed in this book, titled after the Baruch College Conference, “The Quality of Our Financial Markets: Taking Stock of Where We Stand.”  Featuring contributions from a distinguished panel of practitioners, academicians, and regulators, this volume offers a penetrating and timely account of the most current issues in market quality, covering such topics as high-frequency trading; the Flash Crash of May 6th, 2010; dark pools; lit pools; fragmentation; disruptive and advanced technologies. And, very significantly, it takes a close look at the impact and influence of regulation.

The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars. Much more than historical documents, the transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panelists and speakers are integrated for a complete thematic presentation. Each book is focused on a well delineated topic, but all deliver broader insights into the quality and efficiency of the U.S. equity markets and the dynamic forces changing them.

Editors and Affiliations

  • , Zicklin School of Business, Baruch College, CUNY, New York, USA

    Robert A. Schwartz, Gretchen Schnee

  • New York, USA

    John Aidan Byrne

Bibliographic Information

Buy it now

Buying options

eBook USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access