Katya Malinova

Policy & service

Much of my research agenda comes out of working with regulators and market participants on questions they are actively deciding. The roles below are the main channels for that exchange.

Regulators and advisory bodies

Canadian Securities Administrators — Retail Committee, co-chair (2025–present)
Competitively selected. The committee brings regulators and industry together to review how individual investors access real-time market data and what it costs them, as part of the CSA's broader data fees review.
Canadian Securities Administrators — Data Fees Methodology Industry Committee, co-chair (2024–25)
Competitively selected. Reviewed the framework governing the pricing of real-time market data in Canada. The committee's report was published by the CSA in December 2025 in English and French.
Leibniz Institute for Financial Research SAFE, Frankfurt — Research Advisory Council (2023–present)
Advising on the institute's research and policy program on financial market design and regulation.
Crypto and Blockchain Economics Research (CBER) Forum — Fellow (elected April 2026)
The Forum is a multi-university collaboration bridging blockchain scholarship and practice, organized by NYU Stern, Columbia, Boston University, Ecole Polytechnique, the University of Florida, NTU, and the University of Toronto. I am one of its elected fellows and have served on the program committee for its annual conference since 2022. Discussant at the 6th Annual CBER Conference, NYU Stern, June 2026.
Ontario Securities Commission — Market Structure Advisory Committee (2021–23)
Member.
Canadian Securities Administrators — research contract on trading fees and rebates (2018–21)
Co-lead of a pilot study on the impact of maker-taker fees and rebates.
Investment Industry Regulatory Organization of Canada (2017–18)
Pro-bono consultant.

Editorial roles

  • Associate Editor, Journal of Financial Markets (2016–present)
  • Associate Editor, Financial Management (2022–present)
  • Editor, Journal of Financial Technology (2018–present)
  • Guest Associate Editor, Information Systems Research, special issue on FinTech (2018–19)

The Microstructure Exchange

In May 2020 I co-founded The Microstructure Exchange with four colleagues in market microstructure. What began as a pandemic stopgap is now a bi-weekly online seminar with invited and refereed talks (about a 10% acceptance rate for refereed submissions), 60–150 participants per session from universities and institutions worldwide, and an annual WRDS-TME best paper award. It has become a regular venue for PhD students to see frontier research and the discussion around it.

Conference program committees

Western Finance Association (2018–26), European Finance Association (2015–26), Northern Finance Association (2016–25), Financial Management Association (2020, 2025), Eastern Finance Association executive program committee (2025), Crypto and Blockchain Economics Research conference (2022–26), NYSE Market Structure and AI Conference (2026), SAFE Market Microstructure Conference (2020, 2022, 2025), Sydney Microstructure and Digital Finance Workshop (2024–26), Warwick Gillmore Centre DeFi & Digital Currencies Conference (2025), and others.

Grant and journal reviewing

Referee for the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, American Economic Review, Management Science, Review of Finance, Journal of Financial and Quantitative Analysis, Research Policy, and others. Grant reviewer for SSHRC, NSERC, the U.S. National Science Foundation, the Israel Science Foundation, the British Academy, the Swiss National Science Foundation, the Netherlands Organisation for Scientific Research, and the Austrian Science Fund.

McMaster

  • Director, Master of Finance program (2023–25); led the introduction of the Financial Analytics specialization
  • McMaster Business Graduate Curriculum and Policy Committee (2025–present)
  • DeGroote Faculty Research and Awards Committee (2024–present); University Scholar and Research Chair selection committees