Advancing the Field of Quantitative Finance
formerly the IAFE


Event: Liquidity Risk and the State of the Market
Date: February 23 - February 23
Time: 5:30 Registration, 6:00 Program Begins, 7:30 Reception
731 Lexington Ave


The Liquidity Risk Committee of the International Association of Financial Engineers presents

Liquidity Risk and the State of the Market: A Discussion of the Role of Market Externalities, Path-Dependence, and State-Dependence on Asset and Funding Liquidity

Sanford Grossman,
Chairman Quantitative Financial Strategies, Inc.
Steve Ross,
Franco Modigliani Professor of Finance and Economics, MIT & IAFE Senior Fellow
Myron Scholes, Chairman, Oak Hill Platinum Partners & IAFE Senior Fellow

David K. A. Mordecai,
President, Risk Economics Limited, Inc./Partner, S3 Asset Funding & Co-Chair of IAFE Liquidity Risk Committee

Liquidity risk has become recognized to be among the most complex and pernicious risks facing financial markets and institutions in terms of their function and stability. Liquidity risk is now being studied by academic, practitioners and policymakers as the primary cause of anecdotal phenomenon deemed asset bubbles, financial contagion and market crashes. Furthermore, liquidity risk also undermines price efficiency, and influences complex market behaviors such as strategic and predatory trading. This inaugural forum of leading minds within financial economics will discuss fundamental question sand issues underlying liquidity risk.

Hosted By Bloomberg
731 Lexington Ave

5:30 Registration, 6:00 Program Begins
7:30 Reception

Sponsored by:


International Securities Exchange
Pacific Alternative Asset Management Company