The project involves leading experts and will explore how computer generated trading in financial markets might evolve in the next 10 years or more, and the challenges and opportunities this will present.
Professor Sir John Beddington, Government Chief Scientific Adviser and Director of the Foresight project said:
I am delighted that Dame Clara Furse has agreed to chair the lead expert group for the Foresight project on computer trading. Her long standing experience in the financial industry is a huge asset and her insight will provide a greater focus on how best to progress the project’s analysis.
Dame Clara Furse, Non Executive Director of Nomura and Chair of the lead expert group said:
I really welcome the opportunity to chair this important project. The evidence based analysis that it will produce will help us understand how computer trading in financial markets could evolve and impact on financial stability. This is a fundamental issue for the efficiency and integrity of global financial markets and the economies they serve.
The project is sponsored by Her Majesty’s Treasury and led by the Government Office for Science under the direction of the Government Chief Scientific Adviser, Professor Sir John Beddington. It aims to make a significant contribution to the efficiency, integrity and resilience of financial markets, by identifying options for policy makers in the UK and internationally.
Notes to editors
Foresight is in the Government Office for Science (GO-Science). GO-Science supports the Government’s Chief Scientific Adviser in ensuring that the government has access to, and uses, the best science and engineering advice. It is located within the Department for Business, Innovation and Skills.
The UK government’s Foresight programme helps government think systematically about the future. Foresight uses the latest scientific and other evidence to provide advice for policymakers in addressing future challenges.
The purpose of the lead expert group is to guide the project and ensure its findings are of a high standard. Other members were appointed at the outset of the project in late November 2010. Current membership is as follows:
Dame Clara Furse - Non Executive Director, Nomura
Andy Haldane - Executive Director, Financial Stability, Bank of England
Professor Charles Goodhart - London School of Economics
Professor Oliver Linton - London School of Economics
Kevin Houstoun - Chairman, Rapid Addition; Co-Chair, Global Technical Committee, FIX Protocol Limited
Professor Philip Bond - University of Oxford and University of Bristol
Professor Dave Cliff - University of Bristol
Dr Jean-Pierre Zigrand, Reader in Finance, London School of Economics