Young Researcher receives Maravon Markets Award

Benjamin Clapham has been given the Maravon Markets Award 2015 for his thesis on „Price Discovery in Fragmented Markets - An Event Study Based on Trading Data from Deutsche Börse and BATS Chi-X Europe“, supervised by Prof. Dr. Peter Gomber and Kai Zimmermann. The Maravon GmbH honors excellent theses in the area of financial markets research. In his thesis, Benjamin Clapham analyses how the two major trading platforms for DAX 30 assets contribute to the pricing process. He shows that the biggest platform (Xetra) can maintain price leadership even in a fragmented market environment.