Thomas Ruf

Senior Lecturer

Thomas is a Senior Lecturer at the School of Banking and Finance. He holds a PhD from UBC and a MSc from the University of Southern California. He has been a visiting academic at the Financial Conduct Authority, the University of Technology Sydney, Simon Fraser University and most recently, Indiana University from 2018-2020.

Working Papers
Ruf T; Chuprinin O, 2018, Inferring Mutual Fund Quality at Inception, http://dx.doi.org
Ruf T; Chuprinin O, 2017, Let The Bear Beware: What Drives Stock Recalls, http://dx.doi.org
Ruf T; Goldstein MA; Foley S; Chen H, 2016, The Value of a Millisecond: Harnessing Information in Fast, Fragmented Markets, http://dx.doi.org10.2139/ssrn.2860359,
Ruf T, 2015, Liquidation Risk and the Skewness Risk Premium in Options Markets, http://dx.doi.org
Ruf T; Levi MD, 2012, Arbitrage in Unfamiliar Places: The International Residential Real Estate Market, http://dx.doi.org10.2139/ssrn.2022572,
Ruf T, 2011, The Dynamics of Overpricing in Structured Products, http://dx.doi.org10.2139/ssrn.1787216,
Conference Presentations
Ruf T; Goldstein MA; Foley S; Chen H, 2016, 'The Value of a Millisecond: Harnessing Information in Fast, Fragmented Markets', presented at NBER Microstructure Meeting, Boston, 01 December 2016 - 02 December 2016
Ruf T; Chuprinin , 2016, 'Let the bear beware: The inopportune timing of stock recalls', presented at European Finance Association Meeting, Oslo, Norway, 17 August 2016 - 20 August 2016
Ruf T; Aquilina M; Foley S; O'Neill P, 2016, Asymmetries in Dark Pool Reference Prices, Financial Conduct Authority, London, FCA Occasional Papers,
  • Best Paper Award Behavioural Finance and Capital Markets Conference, 2017
  • FMA Semi-Finalist for Best Paper Award, 2016
  • CAFM Best Paper Award, 2015
  • MFA Best Paper Award 2011
  • ASB Special Research Grant (SRG), 2013
  • Canadian Securities Institute Research Foundation Ph.D. Scholarship, 2011-2012
  • FINS1613 – Business Finance
  • FINS1612 – Capital Markets and Institutions


  • MFIN6205 – Financial Risk Management for Financial Institutions
  • FINS5535 – Derivatives and Risk Management Techniques