Dr. Markus Gsell
Dr. Markus Gsell studied Information Engineering and Management at the University of Karlsruhe. In 2005 he became the first research assistant at the Chair of BA, especially e-Finance at Goethe-University Frankfurt.
In February 2010 he completed his dissertation entitled „Essays on Algorithmic Trading”. Afterwards he was working as Product Manager for Interactive Data Managed Solutions AG. Nowadays he is working for the Gruppe Deutsche Börse in the area of market development.
Research interests:
- Algorithmic Trading
- Impact of regulation on financial markets
- Impact of technological advances on financial markets
- Market Microstructure
Publications:
| 2011 |
| Gomber, Peter; Gsell, Markus; Lutat, Marco Competition among electronic markets and market quality In: 14th Conference of the Swiss Society for Financial Market Research (SGF) ; Zurich, Switzerland [Find it] |
| Gomber, Peter; Gsell, Markus; Lutat, Marco The quality of European equity markets after MiFID In: Lazzari, V. (Ed.), Trends in the European Securities Industry; EGEA, Milan, pp. 179-200 |
| Gomber, Peter; Gsell, Markus; Lutat, Marco Competition among electronic markets and market quality In: 2011 Eastern Finance Association (EFA) Annual Meetings; Savannah, GA, USA |
| Gomber, Peter; Gsell, Markus The emerging landscape in European securities trading In: Lazzari, V. (Ed.), Trends in the European Securities Industry; EGEA, Milan, pp. 97-133 |
| 2010 |
| Gsell, Markus Essays on Algorithmic Trading In: Ibidem-Verlag; Hannover [Find it] |
| 2009 |
| Gomber, Peter; Gsell, Markus; Pujol, Gregor; Wranik, Adrian Regulation and Technology in Equity Trading – The Impact of Regulatory and Technological Changes on Order Execution and the Trading Venue Landscape in Europe In: Engelen, P.-J. and Lannoo, K. (Eds.) "Facing New Regulatory Frameworks in Securities Trading in Europe"; Intersentia and Centre for European Policy Studies (CEPS), pp. 31-54 |
| Gomber, Peter; Ende , Bartholomäus; Gsell, Markus Order Handling of Institutional Investors In: Journal of Trading, Volume 4, No. 4, pp. 10-31 |
| Gomber, Peter; Gsell, Markus Catching Up with Technology: The Impact of Regulatory Changes on ECNs/MTFs and the Trading Venue Landscape in Europe In: Markets in Financial Instruments Directive - A Competitive Landscape, Eds.: Bala Bharathi Y, Lingisetti Venu, pp. 145-170; ICFAI Books, Hyderabad, India [Find it] |
| Gomber, Peter; Gsell, Markus A New Basic Law for Securities Trading in Europe In: Markets in Financial Instruments Directive - A Competitive Landscape, Eds.: Bala Bharathi Y, Lingisetti Venu, pp. 3-11; ICFAI Books, Hyderabad, India [Find it] |
| Gsell, Markus Technological Innovations in Securities Trading: The Adoption of Algorithmic Trading In: Proceedings of the 13th Pacific Asia Conference on Information Systems (PACIS); Hyderabad, India |
| Gomber, Peter; Ende , Bartholomäus; Gsell, Markus Order Handling of Institutional Investors In: EFL Quarterly 02/2009, pp. 6-8; Frankfurt |
| Gomber, Peter; Groth, Sven; Gsell, Markus Algorithmischer Handel auf Finanzmärkten - Handels- und Orderabgabeverhalten von Computern versus menschlichen Händlern In: Zeitschrift für das gesamte Kreditwesen, Ausgabe Technik 2-2009, pp. 11-14; Frankfurt |
| Gsell, Markus; Gomber, Peter Algorithmic trading engines versus human traders – Do they behave different in securities markets? In: 17th European Conference on Information Systems (Newell S, Whitley EA, Pouloudi N, Wareham J, Mathiassen L eds.), pp. 98-109; Verona, Italy |
| Gomber, Peter; Ende , Bartholomäus; Gsell, Markus Order Handling of Institutional Investors In: Study Report |
| Gsell, Markus Algorithmic Activity on Xetra In: Journal of Trading, Volume 4, No. 3, pp. 74-86 |
| Gsell, Markus; Gomber, Peter Algorithmic trading engines versus human traders – Do they behave different in securities markets? In: 12th Conference of the Swiss Society for Financial Market Research (SGF); Geneva, Switzerland |
| Gsell, Markus Algorithmic Activity on Xetra In: Campus for Finance Research Conference 2009; WHU - Otto Beisheim School of Management, Vallendar |
| 2008 |
| Gsell, Markus Assessing the impact of Algorithmic Trading on markets: A simulation approach In: CFS, EFL and DBAG Research Conference "The Industrial Organisation of Securities Markets: Competition, Liquidity and Network Externalities" (CFS Working Paper Series 2008/49); Frankfurt |
| Gomber, Peter; Gsell, Markus Evolution der Anforderungen an die IT im Börsenhandel In: "Technik / IT für Finanzdienstleister“, Zeitschrift für das gesamte Kreditwesen, 2/2008, pp. 13-16; Frankfurt |
| Gomber, Peter; Gsell, Markus Algorithmic Trading In: "Geld&Brief", Kundenmagazin der Börsen Hamburg und Hannover, 2/2008, pp. 8-9; BÖAG Hannover |
| Ende , Bartholomäus; Gsell, Markus Investigating the Buy-Side’s Adoption Decision for Technology-Driven Execution Opportunities - An extension of TAM for an organizational adoption context In: 16th European Conference on Information Systems (Golden W, Acton T, Conboy K, van der Heijden H, Tuunainen VK eds.), 1262-1273; Galway, Ireland |
| Gsell, Markus Assessing the impact of Algorithmic Trading on markets: A simulation approach In: 16th European Conference on Information Systems (Golden W, Acton T, Conboy K, van der Heijden H, Tuunainen VK eds.), 587-598; Galway, Ireland |
| 2007 |
| Gsell, Markus Algorithmic Trading and its Impact on Markets In: EFL Quarterly 04/2007, pp. 4-5 |
| 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 [Find it] |
| 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) [protected Download] Password protected due to future submission/publication, please contact the author |
| Gomber, Peter; Gsell, Markus Catching up with technology – The impact of regulatory changes on ECNs/MTFs and the trading venue landscape in Europe In: Automated Trader Magazin (online-only Bootstrap section) |
| Gomber, Peter; Gsell, Markus; Reininger, Claudia MiFID-Readiness - Die Umsetzung der MiFID “Markets in Financial Instruments Directive“ in der deutschen Finanzindustrie In: Proceedings of the 8. Internationale Tagung Wirtschaftsinformatik (WI 2007), vol. 2, pp. 741-758; Karlsruhe 2007 [protected Download] Password protected due to former publication, please contact the author |
| 2006 |
| Gsell, Markus; Lutat, Marco; Steenbergen, Jan NYSE Hybrid Market Model – Implikationen für den deutschen Finanzmarkt Working Paper [protected Download] Password protected due to future submission/publication, please contact the author |
| Engelen, Peter-Jan; Gomber, Peter; Gsell, Markus Facing New Regulatory Frameworks in Securities Trading In: Competition and Regulation in Network Industries; Volume 1, No. 4, December 2006, Special Issue on The Future of Alternative Trading Systems and ECNs in Global Financial Markets, pp. 487-496. [protected Download] Password protected due to future submission/publication, please contact the author |
| Gsell, Markus Is Algorithmic Trading distinctively different? - Assessing its behaviour in comparison to informed, momentum and noise traders In: Narender, Vunyale; Malhotra, D K (ed): Advances in Business and Finance Studies, The ICFAI University Press, pp. 1-19; Hyderabad, India (Proceedings of the International Conference on Business and Finance 2006) [protected Download] Password protected due to former publication, please contact the author |
| Gomber, Peter; Reininger, Claudia; Gsell, Markus; Ende , Bartholomäus Is the German financial industry ready for MiFID? In: EFL Quarterly, pp. 4-5. [Download] |
| Gomber, Peter; Gsell, Markus Catching up with technology – The impact of regulatory changes on ECNs/MTFs and the trading venue landscape in Europe In: Competition and Regulation in Network Industries; Volume 1, No. 4, December 2006, Special Issue on The Future of Alternative Trading Systems and ECNs in Global Financial Markets, pp. 535-557 [protected Download] Password protected due to future submission/publication, please contact the author |
| Gomber, Peter; Gsell, Markus A new basic law for securities trading in Europe In: Handbook of World Stock, Derivative and Commodity Exchanges , pp. XXIII - XXV; London [protected Download] Password protected due to former publication, please contact the author |
| 2005 |
| Gomber, Peter; Gsell, Markus; Wranik, Adrian Algorithmic Trading - Maschinen auf Finanzmärkten In: Die Bank, Sonderausgabe zur E.B.I.F. (European Banking & Insurance Fair) 2005, S. 40 - 45 |