The 7th Annual STERN MICROSTRUCTURE MEETING
Friday, May 19, 2017
Stern School, New York

Submissions are invited for the Stern Microstructure Meeting scheduled for Friday, May 19, 2017 at NYU Stern School in New York City, with optional concurrent submission to the Journal of Financial Markets. The program committee is Tarun Chordia, Joel Hasbrouck, Bruce Lehmann, Paolo Pasquariello, and Gideon Saar.

The focus of the program meeting is the economics of securities markets.  This includes (but is not limited to) theoretical, empirical, and experimental analyses of: the role of information in the price-discovery process; the definition, measurement, and determinants of liquidity; the costs and benefits of alternate trading mechanisms and market structures; the measurement and control of transactions costs; the role of regulation and the evolution of market design; domestic and international comparisons of trading costs; cross-border listing and trading securities; trading technology and information systems; practical implications of market design for risk management; and financial engineering.

If you are interested in presenting a paper at the meeting, please upload a PDF at the submission website: http://pages.stern.nyu.edu/~jhasbrou/openconf/openconf.php. The deadline for submissions is 11:59 (Eastern US Time), Sunday, March 12.  The Salomon Center will cover the expenses of those chosen to present and discuss papers at the meeting (one author's expenses in the case of multiple-authored papers).

Disclosure: Microstructure research derives much of its vitality and relevance from the connections bridging researchers, regulators and practitioners. To outsiders, however, these connections sometimes suggest pathways of influence and bias in our findings, particularly when a connection involves a payment or other benefit (commonly, in our case, data). Our profession is still developing norms and standards in this area. The American Economic Association has a disclosure policy, but the American Finance Association does not. Whatever the status of the formal rules, however, our broader audience expects more transparency. We accordingly advise all submitters to consider the adequacy of their disclosures. The NBER posts guidelines on its website that are thoughtful and reasonable (https://www.nber.org/researchdisclosurepolicy.html).

During the submission process for the Stern Microstructure Meeting, authors will have option of simultaneously submitting their paper to the Journal of Financial Markets:

  • To submit a paper for dual consideration, authors must check the dual submission box on the submission web form and also check the box certifying that the paper is not under review at another journal or the JFM. In addition, a paper can't be considered for the JFM if it has previously been rejected by the JFM (although it remains eligible for the conference).
  • At the discretion of the JFM, referee reports will be solicited for a small number of the dual submissions. If such a report is sought, the authors will receive a copy of the report. Papers rejected at any stage of the dual review process (including those that are refereed) are not considered to have been “rejected” at the JFM. They remain eligible for subsequent submission to the JFM without prejudice. While under consideration by the conference and the JFM, a paper may not be submitted to another journal (or the JFM) until the author has been notified of the outcome of the dual-submission process. JFM submission fees (for the initial and subsequent rounds, if necessary) are waived.

Attendance at the conference is open. All interested persons (certainly including faculty, students, practitioners, and regulators) are welcome to attend.

Past programs for the Stern Microstructure Conference are available for 2016, 2015, 2014, 2013, 2012, 2011. Past programs for the NBER Microstructure Meetings are available at https://www.nber.org/meeting_summaries.html.