Visiting Academic Scholar Appointed to the Office of Economic Analysis

FOR IMMEDIATE RELEASE
2003-102

Washington, D.C., Aug. 21, 2003 -- The Securities and Exchange Commission's Office of Economic Analysis today announced the selection of Leslie Boni as a visiting academic scholar for a one-year term. Currently, Professor Boni is a faculty member at the University of New Mexico.

Boni, 46, earned her B.S. in Chemical Engineering from Northwestern University in 1979 and worked for Chevron for 14 years as a research engineer, process planner, trading coordinator, and risk manager. She was a visiting lecturer at the University of Southern California in 1998-1999 and earned her Ph.D. in Finance from the University of Colorado in August 2000. Her academic research examines the influence of trading rules on market liquidity. She also examines issues related to brokerage analyst research. She has presented her research at national conferences and published in the Journal of Money, Credit, and Banking, the Brookings-Wharton Papers, and the Financial Analysts Journal. Her paper on trading protocols in Treasury markets, "Expandable Limit Order Markets," has been accepted for publication in the Journal of Financial Markets.

While at the Commission, Boni will provide analytical and technical support to help the Commission understand and evaluate the economic effects of its regulatory policy relating to market structure issues and short selling. As part of her duties, she will also conduct independent research and analysis in areas concerning equity market trading protocols and brokerage research.