Jon Danielsson, 15 November 2017

Artificial intelligence is increasingly used to tackle all sorts of problems facing people and societies. This column considers the potential benefits and risks of employing AI in financial markets. While it may well revolutionise risk management and financial supervision, it also threatens to destabilise markets and increase systemic risk.


The conference will feature original work on the evolution of market structure in in Europe and beyond, especially in light of MiFID II/MiFIR.

Papers are being sought on topics including, but not limited to:

Market Structure
Block vs Non-Block Trading
Lit vs Dark Trading
Modalities of Trading post-MiFID II: Double volume caps and large-in-scale blocks

Best Execution
Meeting Best Execution Requirements
Algorithms and Liquidity
Venue Performance Metrics

Market trends
Consolidated Tape
SME Unbundling
Active vs Passive Trading

All submitted papers will automatically be considered for the Plato MI3 Best Paper Award, which will receive a prize of £2500. PhD Students and Assistant Professors who are fewer than three years post-PhD submitting papers will automatically be considered for the Plato MI3 Best Paper by a Young Researcher Award, which will receive a prize of £1500.

Bastian Von Beschwitz, Donald Keim, Massimo Massa, 02 July 2015

High-frequency news analytics can increase market efficiency by allowing traders to react faster to new information. One concern about such services is that they might provide a competitive advantage to their users with potential distortionary price effects. This column looks at how high frequency news analytics affect the stock market, net of the informational content that they provide. News analytics improve price efficiency, but at the cost of reducing liquidity and with potentially distortionary price effects.

Marius Zoican, 20 September 2014

Technological advances in equity markets entered the spotlight following the Flash Crash of May 2010. This column analyses the advantages and disadvantages of algorithmic and high-frequency trading. Ever-faster exchanges do not always improve liquidity. Following a speed upgrade in the Nordic equity markets, effective spreads posted by high-frequency traders increased by 32%.