|Employer||Securities and Exchange Commission|
Daniel Aromi is an economist with the Securities and Exchange Commission (SEC). He joined the SEC in August of 2007. His areas of specialization include auction theory and industrial organization. Aromi will focus on issues related to mutual funds and market microstructure.
In December of 2008, he and fellow economist at the SEC, Cecilia Caglio 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.