Thierry Foucault is HEC Foundation Chaired Professor of Finance at HEC, Paris and a research fellow of the Centre for Economic Policy (CEPR). His research focuses on the liquidity of financial markets, their industrial organization, and their effect on the real economy. He has received, in 2021, an Advanced European Research Council (ERC) grant for conducting research on the effects of big data and artificial intelligence on financial markets. His research is published in leading scholarly journals in financial economics, including the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies. He is co-managing editor of the Journal of Financial and Quantitative Analysis and is an Associate editor of the Journal of Finance and the Journal of Economic Theory. He previously served as co-editor of the Review of Finance and the Review of Asset Pricing Studies. He also serves on the scientific committees of the Autorité des Marchés Financiers (AMF) and the Norwegian Finance Initiative (NFI). He co-authored “Market Liquidity: Theory, Evidence, and Policy” published by Oxford University Press in 2013.