The Ohio State University Department of Finance is sponsoring a conference on dealer markets to be held in Columbus, Ohio on November 7-8, 1996. Conference topics will include the determination of trading costs on NASDAQ or the London Exchange, payment for order flow, evidence for or against collusion among dealers, SOES bandits and SOES trading, Instinet and proprietary trading systems, and dealer entry and exit. To attend the conference contact Nichole Geczy at (614) 292-3092.

Papers and speakers include:

The Establishment of Quotation Patterns After IPOs

Speaker: Mike Barclay, University of Rochester

The Proof of the Pudding: The Effects of Increased Trade Transparency in the London Stock Exchange

Speaker: John Board, London School of Economics

Discussant: Robert Jennings, Indiana University

The Opportunity for Conspiracy in Asset Markets Organized with Dealer Intermediaries

Speaker: Tim Cason, University of Southern California

Discussant: Duane Seppi, Carnegie-Mellon University

The Initiation and Withdrawal of Odd-Eighth Quotes Among Nasdaq Stocks: An Empirical Analysis

Speaker: William Christie, Vanderbilt University

The NASDAQ's New Execution Rules

Speaker: Erik Sirri, United States Securities and Exchange Commission

FX Spreads and Dealer Competition Across the 24 Hour Trading Day

Speaker: Roger Huang, Vanderbilt University

Discussant: Pradeep Yadav, Strathclyde

Why Doesn't Decimal Trading Eliminate Payment for Order flow and Internalization?

Speaker: Craig Holden, Indiana University

Discussant: Paul Clyde, NERA

Do Competing Specialists and Preferencing Dealers Affect Market Quality?

Speaker: Robert Battalio, Notre Dame University

Discussant: Kuldeep Shastri, University of Pittsburgh

Preferencing and Payments for Order Flow on NASDAQ

Speaker: Eugene Kandel, University of Rochester

On Consolidated and Fragmented Market Structures

Speaker: Marc Lipson, University of Georgia

An Empirical Analysis of NYSE Specialist Trading

Speaker: Ananth Madhavan, University of Southern California

Discussant: Shane Corwin, University of Georgia

Do Inventories Matter in Dealership Markets? Evidence from the London Stock Exchange

Speaker: Narayan Naik, London Business School

Does Order Preferencing Matter?

Speaker: Maureen OHara, Cornell University

Discussant: Cathy Niden , Notre Dame and U.S.Securities and Exchange Commission

The Importance of Firm Quotes and Rapid Executions: Evidence from the January 1994 SOES Rules Change.

Speaker: Paul Schultz, Ohio State University

Discussant: Sunil Wahal, Purdue University

Preferencing, Best Execution and Broker-Market Maker Relationships in Dealership Markets: An Empirical Study

Speaker: S. Viswanathan, Duke University

Discussant: Pradeep Yadav, Strathclyde

Interdealer Trading: Evidence from London

Speaker: Ingrid Werner, Stanford University

The schedule is subject to change.

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