Moty Moravvej

Ph.D. Candidate in Finance
Haskayne School of Business, University of Calgary

About

Moty is a Finance Ph.D. candidate specializing in Blockchain, Modern Payment Systems, and Fintech. With bachelor’s and master’s degrees in software engineering and an MBA in Capital Markets, her interdisciplinary background enriches her research.

Her second line of research is Market Mircostructure. Prior to her doctoral studies, Moty accrued a decade of experience in the stock market. She contributed to international projects like cross-border settlement and market surveillance. Her research offers valuable insights for policymakers in financial innovation.

Education

Ph.D. in Finance, Haskayne School of Business, University of Calgary, Canada
- Thesis Title: Settlement Microstructure
- 2020 – Present (GPA: 3.7/4)

Master of Capital Market MBA (with Honor), University of Economic Science, Iran
- Thesis Title: Feasibility Study of Establishing Custodianship as a New Financial Pillar in Iran Capital Market
- 2016 – 2018 (GPA: 19.43/20)

Master of Software Engineering (with Honor), University of Tehran, Iran
- 2009 – 2011 (GPA: 18.83/20)

Bachelor of Software Engineering, University of Tehran, Iran
- 2004 – 2009 (GPA: 16.00/20)

Research Interests

Settlement Microstructure in Modern Banking and Payment Systems, Fintech, DeFi, Blockchain, DLT
Market Linkage, Cross-border Settlement, Market Microstructure, Emerging Markets

Working papers and Conferences

Private Settlement in Blockchain Systems (with Alfred Lehar)
- CBER Rising Stars of Fintech FMA Grapevine Texas (Oct. 2024), 5th SNB-CIF Conference on Cryptoassets and Financial Innovation Zurich (May 2024), Networks in Modern Financial and Payments Systems Bank of Canada Ottawa (Jun. 2023), UCSB-ECON DeFi Seminar (Mar. 2023), Bonn Workshop on Digital Currencies (Dec. 2022), Paris Finance Meeting EUROFIDAI-ESSEC (Dec. 2022), 17^th Central Bank Conference on the Microstructure of Financial Markets Sydney (Dec. 2022), Cardiff Fintech Conference (Oct. 2022), Economics of Financial Technology Conference Edinburgh (May 2022), 4^th Future of Financial Information Conference Stockholm (May 2022)

Silencing the Noise, Amplified Effects: Causal Study on PriceEfficiency (Solo Authored)
- NFA (Sep. 2024), Economics of Financial Technology Edinburgh (Jun. 2024), TEDx Calgary (May 2024), Third PhD Workshop Sveriges Riksbank Stockholm (Apr. 2024), 3-Minutes Thesis Talk Competition UofC (Apr. 2024), Peer Beyond Graduate Symposium UofC Telus Spark Calgary (Feb. 2024)

Gas Tokens: Market for Future Settlement in Ethereum Blockchain (with Alfred Lehar)
- UCSB-ECON DeFi Seminar (Jul. 2024), DBA Research Group Haskayne (Nov. 2023)

Settlement Microstructure of Dependent Transactions (Solo Authored)

Crypto-CAPM: The Role of Speculative and Fundamental Demand in Crypto Pricing (with MH Lashkaripour)
- AFA PhD Poster Session (Jan. 2023), Cardiff Fintech Conference (Oct. 2022), SKKU International Virtual Conference Seoul (May 2022)

Price Efficiency Under Daily Price Limit Regimes: Evidence from Emerging Markets (Working paper, Solo Authored)

Other Activities

Selected Discussions
- Financial Management Association FMA (Oct. 2024)
- Economics of Financial Technology Conference (Jun. 2024)
- Paris December Finance Meeting EUROFIDAI-ESSEC (Dec. 2022)
Attendance
- CtCe Conference at Columbia University (Oct. 2024)
- Blockchain Futurist, Toronto (Aug.2024)
- CBER-Summer School, Columbia University (Jun. 2024)
- Tokenomics, Columbia University (Oct. 2023)

Teaching Experience

FinTech (FNCE481 L01, L02), Undergrad Level, Sessional Instructor, (USRI: 4.82/5, 4.77/5), Haskayne (Fall 2023)
Financial Risk Management (FNCE667), MBA Level, TA Grading and Tutorials, Haskayne (Winter 2021 and 2023)
Managerial Finance (FNCE601), MBA Level, TA Grading Tutorials,
Haskayne (Fall 2021 & 2022)
Security Analysis and Investments (FNCE443), Undergrad Level, TA Grading and Tutorials, Haskayne (Fall 2022)
Financial Technology (FNCE631 and FNCE481), MBA and Undergrad Level, TA Grading, Haskayne (Fall 2020)

Honors & Awards

Canadian Securities Institute Research Foundation (CSI), Open Doctoral Scholarship (GAC), Marion Janet and Lan Stormont Forbes, Swiss National Bank Research Travel Grant, Haskayne Doctoral Scholarship, Sveriges Riksbank Research Travel Grant, 3MT Thesis Talk 3rd Place Winner Medal and Prize, CBER Summer School Travel Grant (2024)
Bank of Canada Research Travel Grant, FGS Doctoral Scholarship, GSA Quality Money Project Award (2023)
University of Bonn Research Travel Grant, Alberta Innovates Graduate Student Scholarship (2022)
Alberta Innovates Graduate Student Scholarship, Eyes High International Doctoral Scholarship (2021)
Alberta Graduate Excellence Scholarship (AGES), Pre-Candidacy Award Haskayne (2020)
Ranked First in the MBA Capital Market Entrance Exam, Top Three Scholarship Winner (2016)

Professional Experience

Business Analyst and IT Consultant to the CEO, Kian Capital Company
(Oct. 2019 – Dec. 2019)
IT Consultant and Project Manager, Kian Digital Company  (Jun. 2019 – Oct. 2019)
IT Director, SEO  (Jan. 2018 – Apr. 2019)
Advisor to Deputy of Executive Affairs, Securities and Exchange Organization (SEO)  (Mar. 2017 – Jan. 2018)
Research and Development Director, Central Securities Depository (CSDI)  (May 2016 – Mar. 2017)
Issuers’ Affairs Director, CSDI  (Jan. 2012 – May 2016)
CEO IT Consultant, CSDI  (Jan. 2011 – Jan. 2012)

International Projects

SMART Realtime Supervision Trading System (with SEO, Nasdaq)  (2018 – 2019)
HFT Trade Engine System Design (with Cinnober, B3, Nasdaq, ATOS-Euronext) (2017 – 2019)
Electricity Exchange Market Establishment (with CSDI, IRENEX, Nord Pool)  (2017 – 2018)
Cross-border International Settlement (with KSD, CSDI)  (2016 – 2018)
Multi-Currency Clearing and Settlement MCNC (with CSDI, NSDL, MSX)  (2012 – 2016)

Certificates

International Student Mentor Badge, Interactive teaching development workshop (2024)
The51 Financial Feminist Member Badge, Instructional Skills Haskayne, Cryptocurrency Regulation Certificate California MCLE, Interactive teaching development workshop (2023)
Smart Money Financial Literacy Badge UofC (2022)
Taylor Institute Developing Teaching Dossier Badge for Graduate Students (2021)
FINSTARS Mentoring IFB (2018)
Future Contracts, Market Microstructure, Machine Learning and Deep Learning, Anti Money Laundering (2017 SEMEDCO) Securities Industry Essentials, Capital Market Analyst, Financial Institutions Manager, Initial Public Offering Specialist (2017 IFC)

Volunteer and Leadership

Canada Regional Ambassador for Woman in Cryptocurrency Association (Oct. 2023 – Present)
Finance Circle Graduate Students Research Gathering Organizer, Haskayne   (Sep. 2023 – Present)
Calgary Public Library Fintech Teaching Lead for ESL Newcomers (Jan. 2023 – May 2024)
Virtual Instructor for Afghan Women, Wisdom House (Nov. 2020 –2022)
Executive Member, Iranian Newcomers Covid-19 Center Yara group (Aug. 2020 – 2021)
Award Committee Member, Graduate Student’s Association (Jul. 2020 – 2022)
Financial Committee Executive Member, Persian Gulf Charity (Summer 2020)
COVID-19 Volunteer for Community Support, University of Calgary   (May 2020 – Sep. 2021)
Executive Member at Doctoral Association for Students of Haskayne DASH   (May 2020 – Sep. 2021)
GRC Graduate Representative Council, Haskayne (Apr. 2020 – Aug. 2020)

In the News

TEDx Calgary “Flow: Connecting the Dots”,  TEDx Calgary (May 2024)
3MT Thesis Talk Competition Story and UofC 3MT Thesis Talk Winners,  FGS UCalgary (Apr. 2024)

References

Alfred Lehar, Supervisor, Professor at Haskayne
Marius Zoican, Associate Professor at Haskayne
KJ Choi, Finance Chair at Haskayne, Associate Professor
Jonathan Chiu, Senior Research Advisor, Bank of Canada