The Norwegian Finance Initiative (NFI) has awarded a new research grant to Columbia University. The grant will finance a study of the effect of technological and regulatory changes on market structure and transparency across equity and fixed-income markets in the US and Europe.
Principal researcher Charles Jones, Professor of Finance at Columbia University, will lead the research team, which includes senior researchers from the University of California Berkeley, VU Amsterdam and UNSW Business School in Sydney.
The main goal of the three-year study, which commenced earlier this year, is to identify the effects of the various regulatory changes and innovations on market quality, price discovery and liquidity.
The research team aims to produce a number of academic research papers and to organise a series of conferences bringing together regulators, practitioners, market innovators and academics.
The study is funded under the NFI Research Programme. The grant is in line with the programme’s objective to facilitate financial economic research of the highest academic standard in areas of particular relevance for the long-term management of the Government Pension Fund Global.