Michael Brolley

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Associate Professor PhD Coordinator (Finance) Lazaridis School of Business and Economics Finance Waterloo, Ontario mbrolley@wlu.ca

Bio/Research

I joined the Finance area of the Lazaridis School of Business and Economics at Laurier in 2015, and was promoted to Associate Professor (with tenure) in 2022. I hold a PhD in Economics from the University of Toronto, as well as a Master of Arts in Economics and an Honours Bachelor of Arts in Appl...

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Bio/Research

I joined the Finance area of the Lazaridis School of Business and Economics at Laurier in 2015, and was promoted to Associate Professor (with tenure) in 2022. I hold a PhD in Economics from the University of Toronto, as well as a Master of Arts in Economics and an Honours Bachelor of Arts in Applied Economics and Mathematics from Queen’s University (at Kingston). My research focuses on the design and operation of securities markets. In recent years, my interests have focussed to innovations in financial markets: high-frequency trading, dark pools, speed bumps, and exchange access fees. Currently, I am exploring the areas of FinTech and the Economics of Cybersecurity.

I have been awarded Insight Development Grants from the Social Sciences and Humanities Research Council in 2016 and (2019, joint with David Cimon @ BoC). In 2011, I attended the 4th Nobel Laureates Meeting at Lindau as a member of the Canadian delegation of Young Economists.

My general research interests are in theoretical financial economics, with a focus on market microstructure. Recent projects focus on studies of financial market innovations, specifically maker-taker fees, dark trading, and high-frequency trading. My current projects study the impact of cyber risk on financial infrastructure, as well as investor segmentation in equity and fixed income markets. These projects include:

- Cyber Risk and Security Investment (with T. Ahnert, D. Cimon and R. Riordan).
- Liquidity Provision under Flat Commissions in a Maker-Taker World (with K. Malinova)
- Retail Margin Trading (with D. Cimon)


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Media Relations

Aonghus Kealy
Communications and Media Relations Officer
akealy@wlu.ca
(548) 889-4855

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Media Relations

Aonghus Kealy
Communications and Media Relations Officer
akealy@wlu.ca
(548) 889-4855

Lori Chalmers Morrison
Director: Integrated Communications
lchalmersmorrison@wlu.ca
(548) 889-4857

Vanessa Barrasa
Director: Communications & Issues Management
vbarrasa@wlu.ca
(548) 889-3812

Brantford Campus:

Beth Gurney
Director, Strategic Communications and Community Engagement
bgurney@wlu.ca
(548) 889-4199

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