Frank M. Hatheway

Program Fellow
    Chief Economist and Senior Vice President 

Dr. Frank M. Hatheway is Chief Economist for Nasdaq, and leads the Economics & Statistical Research Department. His team is responsible for a variety of projects and initiatives in the U.S. and Europe to improve market structure, encourage capital formation, and enhance trading efficiency. A regular participant in industry events for both issuers and traders, he has appeared before the Securities and Exchange Commission and the U.S. Congress to discuss a variety of issues around the equities and derivatives markets. His research work includes identifying the causes of the May 6, 2010 market break, evaluating enhancements for the markets, and exploring the implications of proposed exchange mergers. 

Dr. Hatheway's background prior to joining Nasdaq combines academics and regulation with industry experience. Frank was a finance professor at Penn State University and a researcher in market microstructure. He has authored academic articles in the Journal of Finance, Journal of Financial Intermediation and other leading finance journals. He has served as an Economic Fellow and Senior Research Scholar with the U.S. Securities and Exchange Commission, worked as a derivatives trader, and earned his Ph.D. in Economics from Princeton University.


  • A.B. (Economics and Engineering), Dartmouth College (1979)
  • M.B.A., The Wharton School, University of Pennsylvania (1984)
  • Ph.D. (Economics), Princeton University (1993)
  • Frank M. Hatheway - NASDAQ Bio Page