Dr. Frank Hatheway leads the Economics & Statistical Research Department at Nasdaq. His team is responsible for initiatives in the U.S. and Europe to improve market structure, encourage capital formation, and enhance trading efficiency. Mr. Hatheway has appeared before national regulatory agencies around the world and the U.S. Congress to discuss issues relating to the equities and derivatives markets.  Recent projects include evaluating the effects of increasing order segmentation on market quality and developing proposals to improve capital formation for smaller companies. Prior to joining Nasdaq, Mr. Hatheway was a finance professor at Penn State University, and has served as an Economic Fellow and Senior Research Scholar with the U.S. Securities and Exchange Commission. He earned his Ph.D. in Economics from Princeton University.