Alexis Stenfors

University of Portsmouth

I have been a Senior Lecturer at Portsmouth Business School since January 2014 and work within the Economics and Finance subject group. I have 15 years of experience from the foreign exchange and interest rate derivatives markets, having been a trader at HSBC, Citi, Crédit Agricole and Merrill Lynch. In 2009, I returned to academia to do research on the LIBOR and completed my doctoral thesis with the title ‘Determining the LIBOR: A Study of Power and Deception’ in 2013. I have also held teaching positions at SOAS (University of London) and Olin Business School (Washington University in St. Louis). My recent research on benchmark manipulation has been published in journals such as the Journal of International Financial Markets, Institutions & Money and the Review of Political Economy. I am also the author of ‘Barometer of Fear: An Insider’s Account of Rogue Trading and the Greatest Banking Scandal in History’ (London: Zed Books, 2017).

Being fascinated by how market participants interact with each other, as well as with policy makers, I am particularly interested in interdisciplinary research into controversial issues within money, foreign exchange and derivatives markets. Recent and current research projects include: manipulation, anti-competitive behaviour and market conventions in foreign exchange and derivatives markets; spoofing, layering and liquidity withdrawal among algorithmic and high-frequency traders; cross-currency basis swap spreads and money market risk premia.

I have also been involved in collaborative and multidisciplinary research projects on financialisation, banking and financial markets – such as within Research on Money and Finance (RMF) and the EU FP7 Research Project on Financialisation, Economy, Society and Sustainable Development (FESSUD). Using political economy as well as Post-Keynesian approaches, I have been working on the long-term transformation of the financial systems in Sweden, Japan and the Eurozone – focussing on crises and the interplay between governments and financial markets.


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