High frequency trading is a recent innovation in financial intermediation that does not fit neatly into a standard liquidity-provision framework. While the net contribution of high frequency trading to market dynamics is still not fully understood, their mere presence has already shaken the confidence of traditional market participants in the stability and fairness of the modern financial market system as a whole.
CV of Andrei Kirilenko:
Andrei Kirilenko is a Visiting Professor of Finance at the Brevan Howard Centre for Financial Analysis at the Imperial College Business School.
Prior to joining Imperial in August 2015, he was Professor of the Practice of Finance at MIT Sloan and Co-Director of the MIT Center for Finance and Policy. Professor Kirilenko's work focuses on the intersection of finance, technology and regulation. He is a recognized world expert on high frequency and algorithmic trading. He is also an intellectual leader on the principles of regulation of automated financial markets.
Before MIT Sloan, Professor Kirilenko served as chief economist of the U.S. Commodity Futures Trading Commission (CFTC) between December 2010 and December 2012. In his capacity as chief economist, Kirilenko has been instrumental in using modern analytical tools and methods to improve the Commission's ability to develop and enforce an effective regulatory regime in automated financial markets.
He chaired two subcommittees of the CFTC Technology Advisory Committee: the Subcommittee on Data Standardization and the Subcommittee on the Automated and High Frequency Trading. He also represented the CFTC at the Systemic Risk Committee and the Systemic Data Committee of the Financial Stability Oversight Council (FSOC).
In 2010, Kirilenko was the recipient of the CFTC Chairman's Award for Excellence (highest honor).
Prior to joining the CFTC, Kirilenko spent twelve years at the International Monetary Fund working on global capital markets issues. His scholarly work has appeared in a number of peer refereed journals and received multiple best-paper awards.
Kirilenko received his PhD in Economics from the University of Pennsylvania, where he specialized in Finance.