The World Federation of Exchanges (WFE) Secretariat is pleased to announce the winner of the first annual WFE Award for Excellence, Prof. Robert A. Schwartz of the Zicklin School of Business at Baruch College, CUNY.
The WFE Award for Excellence is presented annually in recognition of an outstanding contribution to the advancement of regulated exchange markets. The Award salutes innovation and improvement in the exchange industry’s operations which leads to greater understanding of capital markets.
This year, the Award recognizes the work of Professor Robert A. Schwartz who is recognized as a pioneer in market structure.
Robert A. Schwartz is Marvin M. Speiser Professor of Finance and University Distinguished Professor in the Zicklin School of Business, Baruch College, CUNY. His research is in the area of financial economics, with a primary focus on the structure of securities markets. He has published over 60 refereed journal articles, twelve edited books, five authored books, including The Equity Trader Course (co-authored with Reto Francioni and Bruce Weber) Wiley & Sons, 2006; Equity Markets in Action: The Fundamentals of Liquidity, Market Structure and Trading (co-authored with Reto Francioni) Wiley & Sons, 2004; and Reshaping the Equity Markets: A Guide for the 1990s, Harper Business, 1991 (reissued by Business One Irwin, 1993). He has served as a consultant to various market centers, including the New York Stock Exchange, the American Stock Exchange, NASDAQ, the London Stock Exchange, Instinet, the Arizona Stock Exchange, Deutsche Börse, and the Bolsa Mexicana de Valores. He is developer, with Bruce Weber and Greg Sipress, of the trading and market structure simulation, TraderEx (http://www.etraderex.com/ ).
John Elliott, Dean of the Zicklin School of Business at Baruch College, says of Schwartz, “He is a central figure in the study of market microstructure. His groundbreaking work virtually created a field of study that did not exist 30 years ago. At Baruch College we have honored him with the Lirtzman Award, the highest award the Zicklin School bestows. We are, of course, delighted by this new tribute from the WFE to a man who is recognized as an international authority in the study of markets.”
Professor Schwartz will receive the award on October 7, 2009, at the WFE Annual Meeting hosted by the TMX Group in Vancouver. Professor Schwartz will also present his recent work on the impact of dark liquidity pools and fragmentation on market quality.