Leading Academic Pioneer in Equity Market Microstructure Robert Schwartz Joins GIX Board of Directors
Zicklin School of Business Distinguished Professor of Finance and Market Microstructure Expert – the “Father of Electronic Call Auctions” – to Support GIX’s Mission to Build the Exchange for the Next-Generation Economy
NEW YORK, June 11, 2026 (GLOBE NEWSWIRE) -- Green Impact Exchange, LLC (“GIX”), one of only ten registered equities exchange operators in the U.S., today announced the appointment of Robert A. Schwartz to its Board of Directors. Schwartz, a globally recognized authority on financial economics and market microstructure, joins a distinguished Board to advise GIX as it creates a new equities exchange to pioneer modern market structure and deliver innovative products to serve the next-generation economy.
Schwartz is the Marvin M. Speiser Professor of Finance and University Distinguished Professor at the Zicklin School of Business, Baruch College, CUNY. Widely regarded across the financial services industry and academia as a pioneer in market microstructure, his research has fundamentally shaped modern equity market theory, regulation, and the equity trading industry.
“We are incredibly honored to welcome Bob to GIX’s Board of Directors,” said Dan Labovitz, CEO and co-founder of GIX. “His unparalleled expertise in market design and lifelong dedication to trading, price discovery, liquidity, and evolving market microstructure mirror GIX’s vision. As we advance our technological framework and launch proprietary market innovations like AuctionEQ, GIX’s scheduled intraday auctions, Bob’s strategic insights will be invaluable in ensuring our infrastructure delivers maximum liquidity, security, and quality for market participants.”
“GIX is building the exact type of resilient, technology-forward infrastructure and dynamic exchange offering that investors, issuers, and traders desperately need,” said Schwartz. “Throughout my career, I have advocated for evolving equity market structure and advancing the role of market microstructure to enhance price discovery, liquidity creation, and market quality. I am thrilled to join GIX’s Board to work with such a seasoned leadership team and bring this next-generation platform to fruition.”
Schwartz brings a wealth of knowledge to GIX. He was named the first chairman of Nasdaq’s Economic Advisory Board in 1995 and is Founding Co-Developer of TraderEx, a market structure simulation system. In 2009 he was named the first recipient of the World Federation of Exchanges’ annual Award for Excellence. He is currently the Co-Director of the Zicklin School of Business’s Robert A. Schwartz Center for Trading and Financial Markets Research, which is dedicated to the inclusion of trading and securities market structure in academic curricula. He has consulted for premier market centers including the New York Stock Exchange, Nasdaq, the London Stock Exchange, Instinet, Arizona Stock Exchange, Deutsche Börse, and the Bolsa Mexicana. Schwartz’s extensive research in financial economics focuses on the structure of securities markets, and his foundational research on point-in-time, batch order execution, known as “call auctions,” has earned him recognition as the “father of electronic call auctions.”
Schwartz has published 84 refereed journal articles, edited 16 books, and authored 9 books, including Micro Markets: A Market Structure Approach to Microeconomic Analysis. A member of the advisory boards of International Finance and The Journal of Trading, he also is the Associate Editor of the Review of Quantitative Finance and Accounting and the Review of Pacific Basin Financial Markets and Policies. His seminal work on call auctions includes The Electronic Call Auction; Market Mechanism and Trading, Building a Better Stock Market; Call Auction Trading: New Answers to Old Questions; A Call Auction’s Impact on Price Formation and Order Routing: Evidence from the Nasdaq Stock Market; and The Return of the Call Auction.
GIX’s Board of Directors also includes Deputy Chief Investment Officer for the New York State Insurance Fund James Andrus; former U.S. Air Force CIO Lt. Gen. Bill Bender (ret.); former Kellogg Capital Markets CEO Kirk Kellogg; and former Nigerian Exchange Group CEO Oscar Onyema. Former NYSE Euronext CEO Duncan Niederauer serves as Special Advisor to the Board.
About Green Impact Exchange
Green Impact Exchange (GIX) is a new registered national securities exchange for the next-generation economy. GIX stands at the nexus of the second-fastest-growing segment of the global markets: capital allocation towards the “green economy,” which encompasses industries’ ongoing transition to a more durable, resilient, and technology-focused future. GIX is building a better capital markets infrastructure to support these companies via a full market ecosystem built on proven equities market rails, from traditional primary and dual listings, auctions, indices, and market data, to new products including equitized carbon credits, tokenized securities, and real-world assets. This offers a market for pre-IPO and IPO companies driving the green economy as well as an enhanced secondary market for underserved small- and mid-cap companies. GIX was founded by financial services leaders with decades of experience across global exchanges, market operations, corporate governance, and sustainability.
To learn more, please contact info@tradegix.com or visit www.tradegix.com.
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