Larry Harris

Larry Harris is a professor of finance at the University of Southern California's Marshall School of Business and served as Chief Economist of the Securities and Exchange Commission from 2002 to 2004. He is the author of "Trading and Exchanges: Market Microstructure for Practitioners" (2003), which has become the standard academic and practitioner reference on how financial markets work at the level of order matching, bid-ask spreads, and market design. The book covers topics including trading costs, market manipulation, liquidity provision, and the economics of different market structures. His research and SEC work have influenced market structure regulation including decimalization, order protection rules, and the debate over payment for order flow. Harris is considered one of the most influential market microstructure researchers of his generation.