Jean‐Pierre Zigrand

Papers

Total Citations

H-Index

About

Jean-Pierre Zigrand is a leading financial economist whose research centers on market microstructure, systemic risk, and the evolving architecture of financial markets. He is best known for his foundational work on the stability implications of computer-based trading, particularly high-frequency trading (HFT). His widely cited 2011 working paper, "The Future of Computer Trading in the Financial Markets," critically examines how algorithmic and high-frequency trading interact with market dynamics. Zigrand’s key contribution lies in identifying that while HFT does not inherently increase volatility, specific mechanisms—particularly self-reinforcing feedback loops—can trigger significant instability under certain conditions. This insight has shaped regulatory and academic understanding of modern market fragility. With over 9 citations on this single paper and a broader body of work exploring liquidity, contagion, and network effects in financial systems, Zigrand’s research has informed policy discussions on market resilience. His work bridges theoretical models with real-world market design, making him a vital voice in debates on financial regulation and the risks of automated trading.