NASDAQ OMX Educational Foundation Awards Grant to Columbia University

Three-Year Grant to Support the Program in the Law and Economics of Capital Markets
NEW YORK, June 4, 2014Columbia University, a global leader in higher education, has secured a three-year grant from The NASDAQ OMX Educational Foundation. The grant will advance the work of the Program in the Law and Economics of Capital Markets, which informs students about regulation and the efficient operation of the United States capital markets. The NASDAQ OMX Educational Foundation has underwritten the program since 2006.
The program, implemented by Columbia Law School and Columbia Business School, was created to address a deficit in scholarship on the impacts of capital markets regulation while pioneering an academic curriculum at the intersection of law and business. It is directed by Columbia Law School's Merritt Fox, the Michael E. Patterson Professor of Law and NASDAQ Professor for Law and Economics of Capital Markets; Lawrence R. Glosten, the S. Sloan Colt Professor of Banking and International Finance at Columbia Business School; and Edward F. Greene, senior counselor Cleary Gottlieb Steen & Hamilton LLP and a lecturer-in-law and senior research scholar at the Law School.
"We are extremely grateful to The NASDAQ OMX Educational Foundation for enabling us to continue growing the program in the Law and Economics of Capital Markets," said Merritt Fox, NASDAQ Professor for the Program in the Law & Economics of Capital Markets at Columbia Law School. "The grant support ensures that students will have practical knowledge of the mechanics, economics and structure of markets, a firm grounding in the current regulatory structure, and an exposure to the conceptual and empirical literature in economics necessary to evaluate this structure as our markets evolve in an era of technical change and globalization."
Since its inception, the program has sparked increased collaboration between the Law and Business Schools, as reflected in the creation of an accelerated J.D./M.B.A. program and the creation of Columbia's Richard Paul Richman Center for Business, Law and Public Policy.

"In addition to our social role as a platform for raising capital and fostering market structure evolution, it is our responsibility to educate future leaders in the fields of business administration and law," said Joan Conley, Senior Vice President and Corporate Secretary at NASDAQ OMX and Managing Director of the NASDAQ OMX Educational Foundation. "It is our pleasure to support Columbia University as they expand their program, preparing students to become global custodians of the financial services industry."
The cornerstone of the program is a unique interdisciplinary course on Capital Markets Regulation jointly developed and taught by Columbia Law School's Professors Fox and Glosten to explore the mechanics, economics and current structure of securities markets in the United States.
The three-year grant will also fund:
  • NASDAQ OMX Fellows Workshops: The workshops convene experts from the legal and business academy, government, industry and legal practice for high-level discussions to the legal regulation of capital markets and the economic forces that shape markets and the regulatory environment.
  • Expansion of the Program's website: The program continues to build up an extensive library of annotated bibliographies now available on its website. These indispensable references cover topics ranging from clearing and settlement to international stock exchange mergers. The program will also offer recordings from many workshops to make its work accessible to a wider audience.
  • A Groundbreaking Text: Professors Glosten and Fox are drafting what promises to become a seminal text on capital markets regulation. As the first publication of its kind, it will play a key role in defining the field.
The growing program in the Law and Economics of Capital Markets will serve practitioners, regulators and students of business and law.
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About Columbia Law School
Columbia Law School, founded in 1858, stands at the forefront of legal education and of the law in a global society. Columbia Law School combines traditional strengths in corporate law and financial regulation, international and comparative law, property, contracts, constitutional law, and administrative law with pioneering work in intellectual property, digital technology, tax law and policy, national security, human rights, sexuality and gender, and environmental law.

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About Columbia Business School
Columbia Business School is the only world–class, Ivy League business school that delivers a learning experience where academic excellence meets with real–time exposure to the pulse of global business. Led by Dean Glenn Hubbard, the School's transformative curriculum bridges academic theory with unparalleled exposure to real–world business practice, equipping students with an entrepreneurial mindset that allows them to recognize, capture, and create opportunity in any business environment. The thought leadership of the School's faculty and staff, combined with the accomplishments of its distinguished alumni and position in the center of global business, means that the School's efforts have an immediate, measurable impact on the forces shaping business every day. To learn more about Columbia Business School's position at the very center of business, please visit
About The NASDAQ OMX Educational Foundation
The NASDAQ OMX Educational Foundation, Inc. was established in 1994 and is supported entirely by contributions from The NASDAQ OMX Group, Inc. The mission of The NASDAQ OMX Educational Foundation, Inc. is to promote and provide opportunities through collaborations and initiatives that support and deliver innovative educational programs and charitable activities.

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Columbia Law School Media Contact:
Public Affairs
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Columbia Business School Media Contact:
Christopher Cashman
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NASDAQ OMX Media Contact:
Alexa Sugrue
+1 (212) 231-5552