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Thank you, folks at the Spanish Finance Association for recognizing our work!

Do you have a new paper related to financial market structure? Submit it to the Microstructure Exchange by July 20. research.net/r/TME-Fall-2022

Last day for submissions to the Microstructure Exchange Fall session: research.net/r/TME-Fall-2022 Deadline is 11:59 pm PST

Microstructure Exchange is back next week with Chris Schwarz (UC Irvine) discussing differences in execution quality provided by retail brokerages. Join us on Tuesday, September 20, at 11 am New York time microstructure.exchange

The Microstructure Exchange is back! We start the season with a paper on retail trading and PFOF. It has only been out for a month or so, but it’s already been covered by WSJ: wsj.com/articles/prici…

Join the 6th SAFE Market Microstructure Conference on 📆28 September 2022 📍 House of Finance, Goethe University Frankfurt, and debate about current developments in the field of market #microstructure. 👉More details and registrations: safe-frankfurt.de/news-media/eve…

Congratulations to my colleague @AnneDyhrberg on her recent publication!

If you know a finance doctoral student who will soon be on the rookie job market, they may be interested in my paper with Tim Crack that details the process and gives practical advice. Now available to download The Financial Review. onlinelibrary.wiley.com/doi/full/10.11…

How does competition in payment for order flow influence lit market liquidity? That’s the question asked at the Microstructure Exchange on Tues, Oct 18. 5 pm in Stockholm / 11 am in New York. microstructure.exchange

Do high-frequency market makers share risks? That is the question under scrutiny at microstructure.exchange tomorrow (Tuesday, 5 pm in Stockholm / 11 am in New . The presenter is Vincent van Kervel (Pontificia Universidad Católica de Chile).

I have written a literature review about market fragmentation, with special focus on European equity markets. Below an example of how fragmented the markets have become. All comments welcome!

At The Microstructure Exchange this week, we have one of those papers about how a small detail in a dataset that we all use, changes all the measures that we take for granted.

The Microstructure Exchange is back! We have a great line-up of speakers👇 Tune in on Tuesdays at 11 am (Eastern Time). microstructure.exchange

Spoofing can slow down price discovery and raise spreads and volatility! That’s according to Basil Williams, who is presenting at microstructure.exchange this week. Tuesday at 11 am (EST) / 5 pm (CET).

In case you (like me!) missed it, here's the recording: youtu.be/gFtKaIBGPBo

At microstructure.exchange/this week Christian Westheide (U Vienna) will present a paper titled “Broker colocation and the execution costs of customer and proprietary orders.” June 6, 11 am (New York) / 5 pm (CET).

Time for the season finale at microstructure.exchange! Joel Hasbrouck (NYU) will talk about *An Economic Model of a Decentralized Exchange with Concentrated Liquidity*. Tuesday, 5 pm CET / 11 am EDT.