Riccardo Borghi is a PhD candidate in Finance at Cass Business School. His thesis focuses on understanding the drivers of stock liquidity commonality and its implications for market risk. He explores demand-side explanations such as correlated trading and supply-side explanations such as funding constraints or high-frequency trading. Riccardo’s last paper investigates if the changing nature of liquidity providers – from banks to high-frequency trading firms – has any impact on the interconnectedness of equity markets. His studies are supported by the “PhD Studentship in Memory of Ana Timberlake”, which involves teaching assistantship roles at the European Central Bank and the University of Cambridge.
- PhD in Finance, Cass business school, United Kingdom, Sep 2013
- MSc in Quantitative Finance, Cass Business School, United Kingdom, Sep 2012 – Sep 2013
- Graduate Diploma in Finance, Birkbeck, University of London, London, United Kingdom, Sep 2011 – Sep 2012
- BSc in Economics, University of Milano-Bicocca, Milan, Italy, Nov 2010
- Intern, Quant Research, Macquarie Group, Aug – Dec 2016
- Borghi, R., Hillebrand, E., Mikkelsen, J. and Urga, G. (2018). The dynamics of factor loadings in the cross-section of returns.