EFL - the Data Science Institute

09/07/2026

🗓️Register now: efl Annual Conference 2026

On 26 November 2026, the efl Annual Conference will take place at Deutsche Börse AG in Eschborn.

This year’s theme:
“Better Data, Less Fragmentation & More Retail – Success Factors for European Financial Markets?”
Together with leading experts from academia and industry, we will discuss some of the most pressing topics shaping the future of European financial markets, including:

🔹 Closing the European liquidity gap
🔹 Reducing market fragmentation
🔹 Strengthening Europe’s global competitiveness
🔹 The role of better data and market transparency
🔹 The future of retail investing

Speakers include:
🔹 Dr. Thomas Book, Member of the Executive Board, Deutsche Börse Group
🔹 Prof. Björn Hagströmer, PhD, Stockholm Business School, Stockholm University
🔹 Tanya Panova, Head of the Securities Markets Unit, DG FISMA European Commission
🔹 Eglantine Desautel, CEO, EuroCTP
🔹 Eric Böss, Global Head of Trading, Allianz Global Investors
and many more…

The conference offers a great opportunity to gain valuable insights, exchange ideas with experts, and expand your professional network across academia and the financial industry.
Participation is free of charge, but seats are limited.
Register early to secure your place!

👉 More information and registration: https://www.eflab.de/events/efl-annual-conference-2026

01/07/2026

Dr. Tino Cestonaro, doctoral student at the Chair of e-Finance (Prof. Dr. Peter Gomber), was awarded the dissertation prize of the Frankfurt Institute for Risk Management and Regulation (FIRM) for his dissertation “Information Dissemination and Price Formation in Securities Markets”. His work provides valuable insights into price formation in financial markets, which are of central importance for
assessing the efficiency, stability, and fairness of markets. Congratulations!

15/06/2026

This year's efl participation in the JP Morgan Run was again a success and our runners had fun. Frederik Hering was again our fastest runner with an official finish time of less than 26 minutes. Congratulations!

27/05/2026

The next EFL Jour Fixe will take place on Monday, June 1st, 2026, at 5:00 pm in the House of Finance (E.01). See: https://www.eflab.de/events/detail/efficient-or-not-price-measures-in-market-microstructure. If you would like to participate, please send an e-mail to [email protected].

11/02/2026

We are pleased to have gained usd AG, a leading expert in cyber security in Germany, as a new industry partner. Headquartered in Neu-Isenburg and with several locations throughout Germany, usd AG has been a major player in strengthening the information security and resilience of international organizations since 1994. As one of the few consulting companies with a pure focus on cyber security, usd AG offers a comprehensive portfolio – from security audits and technical security analyses to strategic security consulting. Especially in highly regulated industries such as the German financial sector or critical infrastructures, its in-depth testing and industry expertise make it a trusted partner for leading organizations. Welcome to efl!

28/01/2026

The next EFL Jour Fixe will take place on Monday, February 2nd, 2026, at 5:00 pm in the House of Finance (E.01). See: https://www.eflab.de/events/detail/household-income-and-volatility-in-germany. If you would like to participate, please send an e-mail to [email protected].

12/01/2026

The next EFL Jour Fixe will take place on Monday, January 19th, 2026, at 5:00 pm in the House of Finance (E.20). See: https://www.eflab.de/events/detail/how-firms-grow-with-their-customers. If you would like to participate, please send an e-mail to [email protected].

05/12/2025

The efl Annual Conference on “AI 2035: Visions for Business and Society” successfully took place on November 27th, 2025, at Finanz Informatik in Frankfurt. The focus of the conference was on the impact of AI on business and society over the next decade, fostering interdisciplinary dialogue and offering insights from research and real-world applications across sectors and disciplines. Overall, six exciting presentations from 3 to 6 pm took place. Afterwards, there was plenty of opportunity to exchange ideas with the other participants during dinner. As always, participation was free of charge, but very enriching. We thank Prof. Oliver Hinz and his team for the organization of the conference and Finanz Informatik for hosting. For more information, please visit: https://www.eflab.de/events/efl-annual-conference-2025

03/12/2025

efl members Tino Cestonaro and Niklas Trimpe won the SFA (Southern Finance Association) Best PhD Paper Award for their paper "Efficient or not? Price measures in market microstructure". In their paper, the authors demonstrate that commonly used price measures, such as the transaction price and midpoint, incorporate public information with substantial delay, whereas advanced measures like the micro-price capture it almost instantaneously. Their findings show that relying on inefficient price proxies can cause systematic distortions in research and trading, providing essential guidance for future studies and investor decision-making. Congratulations! See:

Tino Cestonaro and Niklas Trimpe won the SFA Best PhD Paper Award.

24/11/2025

The next EFL Jour Fixe will take place on Monday, December 1st, 2025, at 5:00 pm in the House of Finance (1.28). See: https://www.eflab.de/events/detail/who-saves-with-a-savings-plan-investors-or-market-makers-an-execution-quality-analysis-of-savings-plan-orders. If you would like to participate, please send an e-mail to [email protected].

Who Saves with a Savings Plan – Investors or Market Makers? An Ex*****on Quality Analysis of Savings Plan Orders