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BARBARA RINDI

BARBARA RINDI
Associate Professor
Department of Finance

Courses a.y. 2022/2023

11807 MARKET MICROSTRUCTURE
20252 INFORMATION AND THE ARCHITECTURE OF FINANCIAL MARKETS
30181 THE MICROSTRUCTURE OF FINANCIAL MARKETS
40425 FINANCIAL MARKETS MICROSTRUCTURE

Courses previous a.y.

I teach to undergraduate, master, and Ph.D. students. I also act as supervisor for several Internal (IGIER) Internships where I introduce students to research.


Biographical note

I am an Associate Professor of Economics at Bocconi University, where I am a Fellow of the Innocenzo Gasparini Institute for Economics Research (IGIER) and of Baffi Carefin. My work has been published in a number of academic journals, including the Journal of Financial Economics, Management Science (forthcoming), the Review of Finance, and the Journal of Financial Intermediation. I co-authored The Microstructure of Financial Markets, a textbook published by Cambridge University. I am Associate Editor of the Journal of Financial Markets. I also act as supervisor for several Internal (IGIER) Internships where I introduce students to research.


About

Trading @ the Close (2022 version forthcoming)

In light of the growing concern of regulators about the substantial increase in closing auction volumes around the world, we find no evidence that increases in auction activity in Europe harm market quality during continuous trading. These results differ from findings in the US markets where a different type of closing auction mechanism is used. 

Information, Liquidity and Dynamic Limit Order Markets (2022 version forthcoming)

This paper includes a closed-form solution for a two-period model of the limit order book with asymmetric information, representing a significant step in the modeling of a limit order book with asymmetric information.


Research interests

Research: SSRN Author page.

My research interests are on market microstructure, financial market regulation, and market design. My most recent papers are on modeling trading (limit order books) under asymmetric information, the relevance of trading frictions (tick size and trading fees), competition between lit and dark markets, and closing auction volumes.


Working papers

Comerton-Forde, Carole; Rindi, Barbara
Trading @ The Close
2022

Riccò, Roberto; Rindi, Barbara; Seppi; Duane J.
Optimal Market Access Pricing
2021

Panayides, Marios A.; Rindi, Barbara; Werner, Ingrid Margareta
Trading Fees and Intermarket Competition
2021

Riccò, Roberto; Rindi, Barbara; Seppi, Duane J.
Information, Liquidity, and Dynamic Limit Order Markets
2022

Rindi, Barbara; Werner, Ingrid Margareta
U.S. Tick Size Pilot
2019

Selected Publications

Buti, Sabrina; Rindi, Barbara; Wen, Yuanji; Werner, Ingrid
Tick Size, Trading Strategies and Market Quality
Management Science, 2022

Buti, Sabrina; Rindi, Barbara; Werner, Ingrid M.
Diving into dark pools
Financial Management, 2022

Buti, Sabrina; Rindi, Barbara; Werner, Ingrid Margareta
Dark pool trading strategies, market quality and welfare
Journal of Financial Economics, 2017

Gozluklu, Arie Eskenazi; Perotti, Pietro; Rindi, Barbara; Fredella, Roberta
Lot size constraints and market quality: evidence from the Borsa Italiana
Financial Management, 2015

S. Buti; Rindi, Barbara
Undisclosed orders and optimal submission strategiesin a limit order market
Journal of Financial Economics, 2013

E. Kandel; Rindi, Barbara; Bosetti, Luisella
The Effect of a Closing Call Auction on Market Quality and Trading Strategies
Journal of Financial Intermediation, 2012

Rindi, Barbara; Perotti, Pietro
Market makers as information providers: The natural experiment of STAR
Journal of Empirical Finance, 2010