International Conference November 2011 - Securities Markets: The Crisis and the Challenges Ahead

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1st CNMV International Conference 10-11 November 2011

• Program
• Authors and Papers
  • Eduardo S. Schwartz (UCLA): Volume Dynamics in Contingent Claims on the Equity Market (joint with Richard Roll and Avanidhar Subrahmanyam)
  • Bruno Biais (ToulouseUniversity and CEPR): Equilibrium High Frequency Trading (joint with Thierry Foucault and Sophie Moinas)
  • Jan Jindra (MenloCollege): Crises, Liquidity Shocks, and Fire Sales at Financial Institutions (joint with Jean Helwege and Nicole Boyson)
  • François Derrien (HEC Paris): The Real Effects of Analyst Coverage (joint with Ambrus Kecskes)
  • Christopher Polk (London School of Economics): Hard Times (joint with John Campbell and Stefano Giglio)
  • Xavier Vives (IESE): Higher Order Expectations, Illiquidity, and Short Term Trading (joint with Giovanni Cespa)
  • Vincent van Kervel (CentER, TilburgUniversity): The impact of dark and visible fragmentation on market quality (joint with Hans Degryse and Frank de Jong)
  • Andreas Park (University of Toronto): Subsidizing Liquidity: The Impact of Make/Take Fees on Market Quality (joint with Katya Malinova)
  • Harrison Hong (PrincetonUniversity): Speculative Betas (joint with David Sraer)
• Welcoming and final remarks
  • Julio Segura, President of the CNMV: “Securities Markets: The Crisis and the Challenges Ahead”
  • Fernando Restoy, Vice-Presidente of the CNMV: “Financial Stability: What Role for Securities Markets?”