Market Microstructure Symposium 2.0
Friday, October 24, 2025
NYU Stern School of Business: 44 W 4th St, New York, NY 10012
The Market Microstructure Symposium 2.0 examines how financial innovation is quietly but profoundly reshaping market infrastructure. This year’s focus is on two arenas—private capital and public markets—where intermediation, risk transfer, and liquidity are being reengineered in real time. In private markets, two shifts frame the debate: secondaries and private credit. The unifying question is simple but urgent: who is underwriting the plumbing—and who ultimately bears the risk?
Chatham House Rule applies to encourage candid, off-the-record discussion.
Honorable Speakers
Daniel Sullivan | Moderator, PWC
Dan Sullivan is a Partner in PwC’s Financial Markets & Real Estate practice, where he leads risk modeling and analytics engagements for financial institutions. He advises clients on valuation, model risk, and capital and liquidity stress testing across complex financial portfolios. Dan’s work spans real estate and capital markets, with a focus on building resilient infrastructure and governance frameworks.
Brian A. Ruane | BNY
Brian Ruane is Senior Executive Vice President at BNY and a member of the firm’s Executive Committee, leading Global Clearing, Credit Services, and Corporate Trust. He has held senior leadership roles including Global Head of Clearance & Collateral, Broker Dealer Services, and Alternative Investment Services. Brian also serves as Chairman of The Center for International Financial Services & Markets at Hofstra University and as a board member of SIFMA.
Lars Pace | Hamilton Lane
Lars Pace is a Principal at Hamilton Lane, where he has over 14 years of experience investing in and advising private markets portfolios. He brings expertise in portfolio construction, risk management, and institutional asset allocation across global markets. Previously, he was a Portfolio Manager at American Beacon Advisors and held senior analytical roles at American Airlines and Visteon.
Gerald Cooper | Campbell Lutyens
Gerald Cooper is a Partner and Co-Head of Secondaries at Campbell Lutyens, where he oversees the firm’s Americas secondaries business. He sits on the firm’s Management and Operating Committees and directs strategy, business development, and team leadership. Previously, he was a Managing Director at UBS Investment Bank and held senior roles at Advantage Capital Partners, Deutsche Bank, and Bankers Trust Company.
Christoffer Tinsley | Nasdaq
Christoffer Tinsley is Vice President at Nasdaq Fund Secondaries, where he leads Institutional Secondaries and Registered Fund Liquidity Solutions. He drives strategy, business development, and technology for Nasdaq’s secondaries platform, shaping solutions for institutional investors. Previously, he co-founded RedQuarry, a buy-side research management platform acquired by Nasdaq, and worked as a senior enterprise architecture consultant to Fortune 500 companies.
Samim Ghamani | Moderator, SEC
Samim Ghamami is a Senior Economist at the U.S. Securities and Exchange Commission and an Adjunct Professor of Finance at NYU, where he also serves as a Senior Researcher. He is a leading expert on systemic risk, financial stability, and market structure, and has advised institutions including the Federal Reserve, IMF, and BIS. Samim previously held roles at Millennium, SOFR Academy, and UC Berkeley, focusing on financial risk modeling and regulation.
Jannis Meindl | Goldman Sachs
Jannis Meindl is a Structured Equities Financing Group Analyst at Goldman Sachs, focused on principal credit investing secured by equity interests. He previously served as a GBM Summer Analyst at Goldman Sachs and held investment and research internships at Springtide Partners and Blue Life Futures.
John Golden | Apollo
John Golden is Global Head of Financial Regulation and a Partner at Apollo Global Management, where he oversees regulatory strategy across the firm’s global platforms. He has extensive experience in legal, risk, and compliance leadership, having served as Executive Vice President and General Counsel at Athene and as an attorney at Sidley Austin LLP. John specializes in financial regulation, insurance oversight, and governance frameworks for complex financial institutions.
Adam Reinmann | Wendel Group
Adam Reinmann is CEO of Wendel North America, where he leads the firm’s private equity activities and strategic growth in the region. He brings more than two decades of experience in investment management, corporate strategy, and board governance across diverse industries. Adam currently serves on several corporate and nonprofit boards, including Monroe Capital, ACAMS, and the Crisis Prevention Institute.
Lawrence Rascio | Moderator, Olden Lane
Lawrence Rascio is Head of U.S. Fixed Income Trading and Outsourced Portfolio Management at Olden Lane, where he oversees trading and portfolio strategy. He has over two decades of experience in fixed income and derivatives, including leadership roles at Arq Advisors, XP Investimentos, and Nine Alpha Capital. Lawrence specializes in systematic trading, interest rate derivatives, and fixed income portfolio construction.
Sam Berberian | Citadel
Sam Berberian is Head of Credit Trading at Citadel Securities, where he oversees global credit market making and trading strategy. He previously spent over a decade at Citi as Managing Director and Head of HY Credit Trading and North American Corporate Cash Trading. Sam also spent 11 years at Goldman Sachs, where he was Managing Director and Co-Head of HY Credit Trading.
Matthew Schrager | TD Securities
Matthew Schrager is Managing Director and Co-Head of TD Securities Automated Trading, where he leads electronic fixed income trading and research. He previously served as Co-CEO and Head of Research at Headlands Technologies and held quantitative trading roles at DRW. Matthew brings deep expertise in algorithmic trading, market microstructure, and financial technology innovation.
Andreas Koukorinis | Optiver
Andreas Koukorinis is Co-Head of Credit at Optiver, where he leads credit trading strategies and risk management initiatives across global markets. He previously served as Head of Trading at GSR and held research fellowships at the Department of Computer Science at UCL. Andreas is also a Fellow of the Institute of Mathematics and its Applications and the British Computer Society, specializing in machine learning and quantitative finance.
Elham Saeidinezhad | Moderator, NYU Stern
Elham Saeidinezhad is a Lecturer Doctoral in Finance at the Colin Powell School of Business and teaches capital markets at Columbia University and finance at NYU Stern. Her research examines how trading mechanisms, liquidity design, and financial infrastructures shape market outcomes and systemic stability. Previously, she taught finance at Barnard College, Columbia University, and in the Economics Department at UCLA. Before entering academia, she worked as a research economist on capital markets at the Milken Institute in Santa Monica. She is the founder of the Market Microstructure Project, which connects academics, practitioners, and regulators on structural changes in financial markets. Elham holds a Ph.D. in Empirical Macroeconomics from the University of Sheffield.
Josh Khalif | Flow Traders
Josh Khalif is an Institutional Trader at Flow Traders, where he specializes in global ETF trading and market making. He has over eight years of experience in electronic liquidity provision and previously worked as a Summer Analyst at Goldman Sachs. Josh also serves as an Adjunct Lecturer at Emory University’s Goizueta Business School, teaching courses on contemporary topics in financial markets.

James Maund | Krane Funds Advisors
James Maund is Head of Capital Markets at KraneShares, where he oversees global capital markets strategy and trading operations. He has over two decades of experience in ETFs and index arbitrage, including senior roles at State Street and Goldman Sachs. James has deep expertise in capital markets structure, liquidity, and trading execution.
Samuel Moore | Vest Financial
Samuel Moore is an AVP of Product Management at Vest, where he develops and manages innovative structured investment solutions. He previously served as an AVP Product Specialist at Global X ETFs, specializing in ETF asset allocation and product strategy. Samuel brings experience across investment consulting, wealth management, and entrepreneurship, having founded and operated a small business.

Steven Kelly | Senior Advisor, FDIC
Steven Kelly currently serves as a Senior Advisor at the FDIC. Before this role, he was the Advisor to the Chairman at Guggenheim Partners. Prior to that, he held the position of Associate Director of Research at the Yale School of Management’s Program on Financial Stability, where he focused on financial stability and systemic risk.
Chuck Mack | Head of Strategic Operations and Public Policy, Nasdaq
Chuck Mack is Senior Vice President of North American Markets at Nasdaq, where he leads strategic initiatives and market structure innovation. He previously served as Head of Strategy for North American Trading Services and as Vice President, Head of U.S. Equities at Nasdaq. Chuck has over two decades of experience across market operations, trading strategy, and regulatory engagement, and is a member of the CFTC’s Global Markets Advisory Committee.
Sponsors
We thank all of our corporate, academic, and individual sponsors who make this event possible


ECONOMICS
DEPARTMENT

Market Microstructure Project