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Mao Ye

Assistant professor of finance at University of Illinois

Mao Ye​ is currently an assistant professor of finance at University of Illinois, Urbana-Champaign. His research focuses on market microstructure, especially high frequency trading. His papers have been published in top finance journals such as the Journal of Finance and Journal of Financial Economics.

His research also has policy impact. For example, in the United States, the minimum report requirement for trades used to be 100 shares. Odd lots, or trades less than 100 shares, were not reported. However, high frequency traders routinely sliced and diced large parent orders into small pieces of less than 100 shares to escape the reporting requirements. After ​Ye​ and his co-authors (Maureen O’Hara and Chen Yao) pointed out more than 20 percent of trades are missing from the market data, “The New York Stock Exchange, the Nasdaq Stock Market and the Financial Industry Regulatory Authority Inc. agreed on a plan to add odd lots to official records of daily trading in individual stocks and the overall market” His research on speed competition (with Jiading Gai and Chen Yao) was featured in the testimony of the U.S. senate as “In a ground-breaking study done at the University of Illinois at Urbana-Champaign, ​Mao​ ​Ye​, Chen Yao and Jiading Gai demonstrated the following: …”

​Mao Ye got his Ph.D. degree from Cornell University. When he was a student at Cornell, he was elected as a trustee member of Cornell Board of Trustees, marking the first time an Ivy League institution had elected a trustee from Mainland China. ​Mao Ye also got a masters degree from the University of British Columbia, a masters degree from Renmin University of China and a bachelors degree from Southeast University in China.

Related links

  • Profile page at College of Business, University of Illinois


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