Arlington and Fairfax Triangulate with Wall Street

Posted: June 29, 2001 at 1:00 am, Last Updated: November 30, -0001 at 12:00 am

By Michelle Nery

A two-campus pair of economists–Sharon Brown-Hruska, assistant professor of finance at the Fairfax Campus’ School of Management, and Jerry Ellig, senior research associate at the Arlington Campus’ Mercatus Center–have been collaborating on several applied research projects over the past year, each of which clarifies the workings of financial markets.

The works of Ellig and Brown-Hruska have been cited in several publications.

The Jan. 1, 2001, issue of Barron’s, the premium financial weekly published by Dow Jones, featured their article, “A Penny for Your Trade,” which discusses some controversial practices in securities markets that determine where a stock trades, when it trades, and at what price. In related work, they presented “Market Fragmentation: What the Research Shows,” at the Securities Traders Association meetings in Boca Raton.

They have collaborated on several Public Interest Comments, available from the Mercatus Center, which have been cited prominently in business publications such as Security Industry News and Investment News. Brown-Hruska will be speaking on research that has come out of her work in the Mercatus Center on “Execution Speed and Price Priority: An Options-Based Approach to Measuring Best Execution” at the Southern Finance Association Meetings this fall.

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