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Princeton University Bendheim Center for Finance |
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STOCK TRADING SYSTEMS: CHINA AND US COMPARISON |
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Wei Xiong, Organizer |
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April 29-30, 2016 |
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26
Prospect Avenue Motivated
by the recent turmoil in the Chinese stock markets and its spillover effect
on the world financial markets, the Bendheim Center for Finance, together
with Shenzhen Stock Exchange (the NASDAQ of China) and Shenzhen Advanced
Institute of Finance, has hosted this workshop to discuss and compare stock
trading mechanisms in China and U.S. The workshop brought together academics,
financial practitioners, and policy makers from both China and U.S. to
discuss the current trading system in China, the key challenges faced by the
system, and how the system may be improved based on the systems used in the
U.S. and other countries. April 29, 2016 |
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1:40
- 2:40 pm |
Session
1: Stock Market Turmoil and Trading System in China Wei Xiong, Princeton University, [Slides] Jibao
He, Shenzhen Stock Exchange Wanning
Zhang, Shenzhen Stock Exchange, [Slides]
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3:00
-4: 00 |
Session
2: Circuit Breakers and Other Stabilization Mechanisms Zhonghang
Yang, Shenzhen Stock Exchange, [Slides] Frank Hatheway, NASDAQ, [Slides] |
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4:20
- 5:20 |
Session
3: Open Call Auctions Charles Jones, Columbia University Jane Liu, Peking University |
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6:00 |
Reception
& Dinner (invitation only) Dinner speech: Albert (Pete) Kyle,
University of Maryland
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April 30, 2016 |
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8:40
- 9:40am |
Session 4: Disruptive Behavior
during Market Turmoil Qing Chen, Shenzhen Stock Exchange Lei Yu, U.S. Securities and Exchange Commission |
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10:00 - 11:00 |
Session 5: Liquidity Creation Joel Hasbrouck, New York University, [Slides] Robert Schwartz, Baruch College, CUNY, [Slides] |
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11:20
- 12:20 |
Session 6: Transparency and Data Lawrence Glosten, Columbia University, [Slides] Erik Sirri, Babson College, [Slides] |
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12:30 pm |
Adjourn |
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Contact Person at Bendheim Center for
Finance:
Jessica
O'Leary, jessicab@princeton.edu, 609-258-0539