Stern Microstructure Meeting Program

Peliminary Program for the Stern Microstructure Meeting, Friday, May 20, 2016

Supporting funding is provided by NASDAQ OMX through a grant to the Salomon Center at Stern.


Program Committee	Tarun Chordia, Goizueta School, Emory University Amit Goyal, HEC Lausanne Joel Hasbrouck, Stern School, NYU Bruce Lehmann, UCSD Gideon Saar, Johnson School, Cornell University

The Stern Microstructure Conference is open to everyone with an interest in market microstructure research. The sessions will be held at the Management Education Center, 44 W. 4th St., NYC (near the southeast corner of Washington Square Park). For more complete directions see http://www.stern.nyu.edu/AboutStern/VisitStern/index.htm. There will be a registration desk in the lobby.

Registration Instructions: E-mail salomon@stern.nyu.edu with "SMC2016" in the subject line. Please indicate if you will be joining us for the dinner the night before. Other inquiries: jhasbrou@stern.nyu.edu.

Please note: Hard copies of the papers will not be available at the conference. The schedule below is tentative and subject to revision. (Please don't make travel plans contingent on any particular ordering of the papers.)

Thursday, May 19
6:30 pm	Dinner (open to all registered conference attendees) The dinner, breakfast and lunch will be at the school. Registration and check-in will be in the first-floor lobby.
Friday, May 20
8:30 am - 9:00	Continental Breakfast

9:00 - 10:00	Discrete or Continuous Trading? HFT Competition and Liquidity on Batch Auction Markets Marlene Haas, Vienna Graduate School of Finance Marius Zoican, Universite Paris-Dauphine Discussant: Eric Budish, University of Chicago
10:00 - 11:00	Core-Periphery Trading Networks Chaojun Wang, Stanford University Discussant: Ana Babus, Federal Reserve Bank of Chicago
11:00 - 11:15	Break
11:15 - 12:15	What Drives Price Dispersion and Market Fragmentation Across US Exchanges Yong Chao, University of Louisville Chen Yao, University of Warwick Mao Ye, University of Illinois at Urbana-Champaign Discussant: Larry Harris, University of Southern California
12:15-1:15	Lunch

1:15-2:15	Trading Speed Competition: Can the Arms Race Go Too Far? Dion Bongaerts, RSM, Erasmus University Lingtian Kong RSM, Erasmus University Mark Van Achter, RSM, Erasmus University Country: Netherlands Discussant: Ioanid Rosu, HEC
2:15-3:15	Throttling hyperactive robots - Order to Trade Ratios at the Oslo Stock Exchange Kjell Jorgensen, Norwegian Business School Johannes Skjeltorp, Norges Bank Bernt Arne Odegaard, University of Stavanger Discussant: Albert Menkveld, Vrije Universiteit Amsterdam
3:15-3:30	Break
3:30-4:30	Information Asymmetry, Market Participation and Asset Prices David Hirshleifer, UC Irvine Chong Huang, UC Irvine Siew Hong Teoh, UC Irvine Discussant: Avanidhar Subrahmanyam, Anderson School, UCLA
4:30	Adjourn