Cecilia Caglio

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Cecilia Caglio
Occupation Economist
Employer Securities and Exchange Commission

Cecilia Caglio is an economist with the Securities and Exchange Commission (SEC). She joined the SEC in August of 2008 as an economic fellow after serving on the faculty of George Washington University and American University.[1]Her current research focuses on the impact of financial market regulation on different aspect of market quality and on the competition among stock exchanges.

In December of 2008, she and fellow economist at the SEC, Daniel Aromi said in a report to former SEC Chairman Christopher Cox that the so-called uptick rule was less effective when needed most, during panics that drive prices down and volatility up. Even with delays imposed by an aim to curb speculators in the market, short sellers in a simulation executed trades 25 percent faster on average when stocks plunged than when prices were steady, according to the study.[2]


She previously worked at OEA in 2005 and 2006. Caglio was also faculty member at the Universitat Pompeu Fabra in Barcelona and research fellow at the Ente Luigi Einaudi in Rome.


She earned her Ph. D. in 2003 from Bocconi University.


"Order Submission Strategies and Information: Empirical Evidence from the NYSE," Alessandro Beber and Cecilia Caglio, June 2005