Registered U.S. equities exchange operator Green Impact Exchange (GIX) said on Thursday that market microstructure academic Robert A. Schwartz has joined its board of directors as the venue develops AuctionEQ, its planned scheduled intraday auction product.
Schwartz is the Marvin M. Speiser Professor of Finance at the Zicklin School of Business, Baruch College, CUNY. He was named the first chairman of Nasdaq’s Economic Advisory Board in 1995 and received the World Federation of Exchanges’ inaugural Award for Excellence in 2009.
His research on batch order execution has earned him recognition as the “father of electronic call auctions,” according to the company’s announcement, work that relates to GIX’s auction-based trading model.
“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,” said Dan Labovitz, CEO and co-founder of GIX.
New York-based GIX, which describes itself as one of only ten registered equities exchange operators in the U.S., secured SEC registration approval in 2025. The exchange will use trading technology developed by MEMX Technologies and has said it plans to launch in H2 2026.
