Call for Papers: The Industrial Organisation of Securities Markets: Competition, Liquidity and Network Externalities

                The Center for Financial Studies (CFS),
                 the efinancelab and Deutsche Borse AG
                  are jointly hosting a conference on

           THE INDUSTRIAL ORGANISATION OF SECURITIES MARKETS:
            COMPETITION, LIQUIDITY AND NETWORK EXTERNALITIES


      The objective of the conference is to bring together
      academics and members of the industry to focus on state-of-
      the-art academic research in an environment that stimulates
      discussions and an exchange of ideas.

      The securities markets landscape has been changing quite
      significantly over the last years, through the increase of
      competition, the advancement of technology and the
      restructuring of the industry. This process depends heavily
      on the characteristics of the industry within the
      individual layers of the entire value chain (trading,
      clearing and settlement). The industrial organisation of
      securities markets will keep on evolving, as the value
      chain will be impacted by regulatory changes. In the
      European Union initiatives such as the Markets in Financial
      Instruments Directive (MiFID) or the clearing and
      settlement industry's Code of Conduct, and in the USA the
      Regulation NMS are already challenging the industry of
      securities markets.

      Therefore, the aim of the conference is to shed light on
      all aspects of the industrial organization of securities
      markets. This not only includes trading but also clearing
      and settlement services, and both cash and derivative
      markets.


      ORGANIZERS:

      The conference is organized by Peter Gomber, Goethe
      University Frankfurt and efinancelab, Erik Theissen,
      University of Bonn and Center for Financial Studies and
      Martin Reck, Deutsche Borse AG.


      DATE:

      The conference takes place on June 13-14, 2008.


      PROGRAM:

      The preliminary program of the conference is available on
      the CFS website:

                 http://www.ifk-cfs.de/?id=1302


      REGISTRATION:

      Please register online at:

                 http://www.ifk-cfs.de/?id=1366

      Please note that the number of participants is limited.
      The conference fee is Euro 250 for academics and Euro 400
      for practitioners. A Euro 100 surcharge applies for
      participants registering after April 30. The conference fee
      includes coffee breaks, lunches as well as an evening
      reception on the 13th of June, 2008.


      VENUE AND HOTEL INFORMATION:

      The conference takes place at the Neue Borse, Neue
      Borsenstrasse 1, 60487 Frankfurt/Main. The venue can
      conveniently be reached from Frankfurt airport, by rail
      and other public transport. For further information please
      consult:

                http://www.ifk-cfs.de/?id=1369

      A special contingent has been reserved at:

      Fleming's Hotel Frankfurt-Neue Borse
      Elbinger Strasse 1-3
      60487 Frankfurt am Main

      which is within short walking distance. Hotel reservations
      can be placed by contacting the Hotel directly by phone
      +49-69-370 03 300 or by Fax +49-69-370 03 333. Please use
      the Keyword 'Deutsche Borse: CFS Konferenz'. A single room
      is 104 Euro per night (incl. breakfast).


      FURTHER INFORMATION:

      For any further questions, please contact:

      CONTACT:       Mrs. Laongsin Inpata
      Email:         MAILTO:Inpata@ifk-cfs.de


      We are looking forward to meeting you in Frankfurt in June.


      Erik Theissen           Peter Gomber            Martin Reck
Posted 4/21/08