Pete Kyle is the Smith Chair Professor of Finance at the Robert H. Smith School of Business, University of Maryland. He is one of the foremost financial theorists in the world and is best known for creating the “Kyle Model,” which provides a foundation for the modern theory of market microstructure, a subfield of finance that deals with the process of price formation in financial markets. Dr. Kyle’s research involves mathematical modeling of informed trading in speculative markets, including issues such as insider trading, market manipulation, price volatility, the information content of market prices, and market liquidity. His research has also had an impact on markets for derivatives, bonds, and global trading mechanisms.
Dr. Kyle has consulted and served as an expert witness for numerous companies, law firms, and government agencies. His testifying work includes antitrust and finance cases involving securities fraud, market and price manipulation, and damages. Dr. Kyle has also provided finance consulting services to companies, banks, and stock exchanges on futures trading, risk management, market surveillance and insider trading, portfolio insurance, and derivatives pricing.
Education
PhD, Economics, University of Chicago
BS, Mathematics, Davidson College
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Practices
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Expertise
- Asset and mortgage-backed securities
- Damages estimation
- Derivatives
- Equity, fixed-income, and derivatives securities valuation
- Financial fraud
- Market manipulation
- Market microstructure
- Risk management
- Securities and commodities trading
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Industries
- Banking and financial services
- Commodity markets
- Derivatives
- Equity and fixed-income securities
- Finance
- Insurance
- Investment products
- Securities
- Structured products
- Trading and risk management
