Wang will be involved in rulemaking, with a focus on preventing future financial crises and the influence of new technologies.
“Today we have high-frequency trading, and the timeframe is not seconds; it’s not even milliseconds. It’s nanoseconds because computers are so fast,” he said in a release. “The volume of trading explodes, so what kind of rules should be implemented? This gives me an opportunity to look into not only what is the best practice now, but what will be the plan for financial markets in the future in the U.S. and the world.”