Johnson Finance Professor to Advise Commodity Futures Trading Commission
The Commodities Futures Trading Commission (CFTC) announced the appointment of Maureen O’Hara to serve on its chief advisory body—the Technology Advisory Committee (TAC). O’Hara is the Robert W. Purcell Professor of Management and professor of finance at the Samuel Curtis Johnson Graduate School of Management at Cornell University.
As a member of the TAC, O’Hara will bring the perspective of academic research to identifying and understanding the impact and implications of technological innovation in the financial services and commodities markets. She is an expert on market microstructure, and her recent research has focused on high-frequency trading.
O’Hara was in the spotlight in spring 2014, rebutting the contentions put forth in the popular book “Flash Boys,” written by financial journalist Michael Lewis. His claims of rigged markets, predatory trading practices, and collusion between broker-dealer firms are overblown. “It’s not all about speed. It’s all about technology and new ways to trade,” she said.
O’Hara will bring her expert understanding of the dynamics and effects of high –speed trading to the CFTC, whose mission is to protect market participants and the public from fraud, manipulation, abusive practices and systemic risk related to derivatives, and to foster transparent, open, competitive, and financially sound markets.