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The Liquidity Problem

Maudlin Economics Jared Dillian examines stock market liquidity.

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June 20, 2005

The Trading Trenches Come Alive at Villanova

By Staff Reports

Villanova University has launched its new finance lab that will include simulated trading. There are courses on market structure, trading and liquidity. Among the supporters are ITG, which has equipped the lab with technology and recently sent an executive, Jim Muller, to speak to the wannabe traders.

"This lab will be available for all students and it will also teach them how to use Bloomberg, Reuters and other terminals," says Sharon Murphy, a spokeswoman for the university, which is located in the Philadelphia suburbs.

The students will also have the chance to test their trading skills in various kinds of environments. "In undergraduate classes the students will use the WRDS database to perform quantitative analyses of stock price movements to identify whether a stock is following a momentum or mean-reverting trading pattern," according to a release.

"They use databases such as CRSP and NYSE's TAG, along with sophisticated econometric software from SAS, to perform these analyses and, in so doing, help students learn about how the structure of a stock market affects the liquidity and volatility of a specific stock," the release continued. "This type of analysis is usually reserved for Ph.D students."