Dr. Michael Chlistalla

Dr. Michael Chlistalla studied Business and Computer Science at the University of Regensburg and at the Ecole Supérieure des Affaires in Grenoble. Having finished his studies, he worked for Deutsche Bank AG as a Business Analyst in Securities & Custody Operations. In August 2006 he became a Research Assistant at the Chair of e-Finance. He finished his dissertation entitled „The Impact of Regulation on European Equities Markets“ in May 2012, while working in parallel as an Analyst for Banking, Financial Markets and Regulation at Deutsche Bank Research. Today, he holds a position as a Specialist for Organizational Development & Process Management at BMW Group.

Forschungsinteressen:

  • Regulierung europäischer Wertpapiermärkte
  • Marktmikrostruktur
  • Entwicklungen und Trends im Post-Trading

Veröffentlichungen

2012
Chlistalla, Michael
The Impact of Regulation on European Equities Markets
In: Verlag Dr. Kovac ; 
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2011
Chlistalla, Michael
High-frequency trading: Better than its reputation?
In: Focus 09/2011, pp. 7-11; World Federation of Exchanges, Paris
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Chlistalla, Michael
From minutes to seconds and beyond: Measuring order-book resiliency in fragmented electronic securities markets
In: 2011 Southern Finance Association (SFA) Annual Meetings; Key West, Florida

Chlistalla, Michael
From minutes to seconds and beyond: Measuring order-book resiliency in fragmented electronic securities markets
In: Proceedings of the 19th European Conference on Information Systems (ECIS); Helsinki, Finland

Chlistalla, Michael; Lutat, Marco
Competition in Securities Markets: The Impact on Liquidity
In: Financial Markets and Portfolio Management 25(2), pp. 149-172 ; 
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Chlistalla, Michael
Order-book resiliency: The fourth dimension of liquidity
In: 1st European Retail Investment Conference (ERIC), Doctoral Consortium; Stuttgart

2010
Schaper, Torsten; Chlistalla, Michael
The Impact of Information Technology on European Post-Trading
In: M.L. Nelson et al. (Eds.): Sustainable e-Business Management, LNBIP 58, pp. 48–62, Springer; Berlin, Heidelberg
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Schaper, Torsten; Chlistalla, Michael
The Impact of Information Technology on European Post-Trading
In: 16th Americas Conference on Information Systems (AMCIS); Lima, Peru
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Chlistalla, Michael; Gomber, Peter; Schaper, Torsten
The Future of the European Post-Trading System
In: EFL Quarterly 02/2010, pp. 6-8; Frankfurt

Chlistalla, Michael; Gomber, Peter; Schaper, Torsten
The Future of the European Post-Trading System - A Delphi Study on the Future of the European Post-Trading System in the Light of Globalization and the Financial Crisis
In: Ibidem-Verlag; Hannover


Chlistalla, Michael; Gomber, Peter; Schaper, Torsten
The Future of European Post-Trading - Consequences for Risk Management in View of the Financial Crisis
In: 8th INFINITI Conference on International Finance; Dublin, Ireland

2009
Berger, Sven C.; Chlistalla, Michael; Hinz, Oliver
Collaboration Structures in Financial Markets - A Social Network Analysis of IPO Syndicates
In: Berger, S.C. (Ed.) Strukturwandel der Wertschöpfung im Bankgeschäft, Innovative Betriebswirtschaftliche Forschung und Praxis, Vol. 248, pp. 123-134; Hamburg

Chlistalla, Michael; Lutat, Marco
The Impact of new Execution Venues on European Equity Markets’ Liquidity – The Case of Chi-X
In: Value Creation in E-Business Management, 15th Americas Conference on Information Systems AMCIS 2009; SIGeBIZ track, Springer LNBIP, pp. 218-230

Chlistalla, Michael; Schaper, Torsten
Modifying the Balanced Scorecard for a Network Industry - The Case of the Clearing Industry
In: Software Services for e-Business and e-Society, 9th IFIP WG 6.1 Conference, I3E 2009; Proceedings, pp. 255-271, Springer, Boston

Lutat, Marco; Chlistalla, Michael
Liquidity in times of competition - Evidence from the European stock market
In: Proceedings of the 13th Pacific Asia Conference on Information Systems (PACIS); Hyderabad, India

Schaper, Torsten; Chlistalla, Michael
Deriving a Balanced Scorecard for the European Settlement Industry
In: Proceedings of the Fifteenth Americas Conference on Information Systems (AMCIS); San Francisco, California, USA
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Chlistalla, Michael; Lutat, Marco
The Impact of new Execution Venues on European Equity Markets’ Liquidity – The Case of Chi-X
In: Proceedings of the Fifteenth Americas Conference on Information Systems (AMCIS); San Francisco, California, USA
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Schaper, Torsten; Chlistalla, Michael
Deriving a Balanced Scorecard for the European Settlement Industry
In: 5th Conference on Performance Measurement and Management Control; Nice, France

Chlistalla, Michael; Schaper, Torsten
Modifying the Balanced Scorecard for a Network Industry - The Case of the Clearing Industry
In: 5th Conference on Performance Measurement and Management Control; Nice, France

2008
Chlistalla, Michael; Schaper, Torsten
Deriving a holistic Performance Measurement System for the European Clearing Industry
In: International Review of Business Research Papers (IRBRP), vol. 4, no. 4, pp. 279-291; World Business Institute, Melbourne, Australia
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Schaper, Torsten; Chlistalla, Michael
Modifying the Balanced Scorecard for a Network Industry - The Case of the Clearing Industry
In: 11th Symposium on Finance, Banking and Insurance; Karlsruhe
[protected Download] 
Password protected due to former publication, please contact the author

Chlistalla, Michael; Schaper, Torsten
Deriving a holistic Performance Measurement System for the European Clearing Industry
In: Proceedings of the Fourteenth Americas Conference on Information Systems (AMCIS); Toronto, Canada
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Gomber, Peter; Chlistalla, Michael; Groth, Sven
Neue Börsenlandschaft in Europa? Die Umsetzung der MiFID aus Sicht europäischer Marktplatzbetreiber
In: Zeitschrift für Bankrecht und Bankwirtschaft (ZBB), 1/2008, pp. 2-11; Köln

Chlistalla, Michael; Schaper, Torsten
Deriving a holistic Performance Measurement System for the European Clearing Industry
In: Proceedings of the Eighth International Business Research Conference; Dubai, UAE
[protected Download] 
Password protected due to future submission/publication, please contact the author

Gomber, Peter; Chlistalla, Michael
Implementing MiFID by European execution venues – Between threat and opportunity
In: Journal of Trading, Spring 2008, Volume 3, Number 2, pp. 18-28
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Password protected due to future submission/publication, please contact the author

Schaper, Torsten; Chlistalla, Michael
Competitive Clearing in Europe - Development of a Performance Measurement System in a Changing Environment
In: The 6th NTU International Conference on Economics, Finance and Accounting; Taipei, Taiwan
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Password protected due to future submission/publication, please contact the author

2007
Chlistalla, Michael; Gomber, Peter; Groth, Sven
The New Landscape: How MiFID Drives Changes Among European Execution Venues
In: Journal of Trading, Fall 2007, Volume 2, Number 4, pp. 69-79

Gomber, Peter; Chlistalla, Michael
MiFID - Catalyst for a new trading landscape in Europe?
In: Pre-Conference Proceedings of the 1st Special Focus Symposium on Market Microstructure: From Orders to Prices – Best Execution in the Age of Algo Trading and Event Stream Processing, 1st International Conference on Advances and Systems Research; Zadar, Croatia
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Gomber, Peter; Chlistalla, Michael; Gsell, Markus; Pujol, Gregor; Steenbergen, Jan
Umsetzung der MiFID in Deutschland - Empirische Studien zu Status Quo und Entwicklung der MiFID-Readiness der deutschen Finanzindustrie
In: Books on Demand GmbH; Norderstedt
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Gomber, Peter; Chlistalla, Michael; Gsell, Markus; Pujol, Gregor
Status und Entwicklung der MiFID-Umsetzung in der deutschen Finanzindustrie
In: Zeitschrift für Bankrecht und Bankwirtschaft (ZBB), 4/2007, pp. 313-324; Köln

Gomber, Peter; Chlistalla, Michael; Gsell, Markus; Pujol, Gregor
Ist Deutschland „ready“ für die MiFID?
In: BankPraktiker, Issue 07B, pp. 8-9

Gomber, Peter; Chlistalla, Michael; Gsell, Markus; Pujol, Gregor
Die Umsetzung der MiFID “Markets in Financial Instruments Directive“ in der deutschen Finanzindustrie - Auswertung der 2. MiFID-Studie (März 2007)
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Password protected due to future submission/publication, please contact the author
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