Thierry Foucault is associate professor in finance at the HEC-School of Management. He is a research affiliate at CEPR and has taught at Pompeu Fabra University, Spain and Carnegie Mellon University, USA.
He received his doctorate from HEC. His research focuses on the organization of trading in financial markets and the industrial organization of the securities industry. He has worked on various topics such as optimal order placement strategies in limit order markets, the role of the tick size, the implications of automatic execution for trading costs and price efficiency, the role of day traders on Nasdaq and competition for listings among Stock Exchanges.
He is currently working on the role of reputation in dealership markets and the impact of pre-trade anonymity in limit order markets.
His work has been published in various journals such as the Journal of Financial Intermediation, the Journal of Financial Markets or the Review of Financial Studies.
