Convegno The Development of Securities Markets. Trends, Risks and Policies

 

The Development of Securities Markets. Trends, Risks and Policies

Università Bocconi
Milan, 2015 February 27th


Welcome address

Andrea Sironi
Rector, Università Bocconi


Opening Statement

Giuseppe D'Agostino, Deputy Director General, CONSOB
Francesco Saita Director, BAFFI CAREFIN Center, Università Bocconi


Keynote Speech

Steffen Kern
ESMA

Session I Trading Strategies and Market Microstructure
Chair: Massimo Guidolin, Università Bocconi

Two Shades of Opacity: Hidden orders versus dark trading
Hans Degryse, Geoffrey Tombeur, Gunther Wuyts (paper- presentation)
Discussant: Paolo Colla, Università Bocconi

The Impact of Large Orders in Electronic Markets
Luisella Bosetti, Pietro Gottardo, Maurizio Murgia, Andrea Pinna (paper - presentation)
Discussant: Caterina Lucarelli, Università Politecnica delle Marche

Trading on Algos
Johannes A. Skjeltorp, Elvira Sojli, Wing Wah Tham (paper - presentation)
Discussant: Isadora Tarola, CONSOB

Session II Securities Markets as a Source of Capital
Chair: Nadia Linciano, CONSOB

Financial Architecture and the Source of Growth
Luca Giordano, Claudia Guagliano (paper - presentation)
Discussant: Lorenzo Caprio, Università Cattolica del Sacro Cuore

Sovereign Credit Risk, Liquidity and ECB Intervention: Deus ex machina?
Loriana Pelizzon, Marti G Subrahmanyam, Davide Tomio, Jun Uno (paper - presentation)
Discussant: Carlo Mottura, Università degli Studi Roma Tre

Gender Dynamics in Crowdfunding (Kickstarter): Evidence on entrepreneurs, investors, deals and taste-based discrimination
Dan Marom, Alicia Robb, Orly Sade (paper - presentation)
Discussant: Henriëtte Prast, Tilburg University

Session III Frictions and Liquidity in Securities Markets
Chair: Giovanni Siciliano, CONSOB

Interactions Among High-Frequency Traders
Evangelos Benos, James Brugler, Erik Hjalmarsson, Filip Zikes (paper - presentation)
Discussant: Monica Billio, Ca' Foscari University of Venice

Sand in the Chips? Evidence on taxing transactions in modern markets
Jean-Edouard Colliard, Peter Hoffmann (paper - presentation)
Discussant: Giovanni Petrella, Università Cattolica del Sacro Cuore

The Liquidity of Dual-Listed Corporate Bonds. Empirical evidence from Italian markets
Nadia Linciano, Francesco Fancello, Monica Gentile, Matteo Modena (paper - presentation)
Discussant: Mario Anolli, Università Cattolica del Sacro Cuore