headshot

Moty Moravvej

MBA, MSc

Positions

PhD Candidate

Haskayne School of Business, Finance [FNCE]

Fintech Sessional Instructor

Haskayne School of Business, Finance [FNCE]

Affiliations

Finance Sessional Instructor at Dhillon Business School at University of Lethbridge

~ Other ~

Canada Regional Ambassador for Women in Cryptocurrency (AWIC)

~ Other ~

Background

Educational Background

MBA (with Honor) Capital Markets , University of Economic Science, 2018

MSc. (with Honor) Software Engineering, University of Tehran, 2011

BSc. Software Engineering, University of Tehran, 2009

Diploma (with Honor) Physics and Mathematics , National Organization for Development of Exceptional Talents (NODET), 2004

Biography

Moty is a Finance Ph.D. Candidate at the Haskayne School of Business, specializing in Fintech, Blockchain, Modern Payment Systems, and Market Microstructure.

Under the supervision of Dr. Alfred Lehar, her work has been presented at prestigious conferences hosted by the Australian Central Bank, the Central Bank of Canada, the Swiss National Bank, and Sweden’s Central Bank, providing crucial insights for policymakers in financial innovation.

Moty’s research excellence has earned her numerous accolades, including awards from Canadian Securities Institute (CSI) Research Foundation, Alberta Innovates, Eyes High International, Graduate Excellence, Marion Janet and Ian Stormont Forbes foundation and FGS.

Her research is enriched by her interdisciplinary background, which includes bachelor’s and master’s degrees in software engineering and an MBA in Capital Markets and Investments. Before her Ph.D. journey, Moty gained a decade of experience in the stock market, contributing to international Fintech projects such as cross-border settlement in emerging markets.

Moty is passionate about sharing knowledge and serves as the Canada Regional Ambassador for Woman in Cryptocurrency (AWIC). She also served as a Fintech instructor at Haskayne School of Business in Fall 2023 and Fintech, Corporate Finance and Introduction to Finance at Dhillon School of Business in Winter 2025. She holds the 3rd place winner of the 2024's 3MT Thesis Talk Competition at the University of Calgary.

Research

Areas of Research

Settlement Microstructure, Modern Banking and Payment Systems, Fintech, Crypto Currencies, Ethereum, Blockchain, Bitcoin and DLT, Market Linkage, Cross-border Clearing and Settlement, Energy Markets and Smart Grids

Courses

Course number Course title Semester
FNCE481 L01 Fintech Fall 2023 (Haskayne School of Business)
FNCE481 L02 Fintech Fall 2023 (Haskayne School of Business)
FINC3470C2 Corporate Finance Winter 2025 (Dhillon School of Business)
FINC3040E Introduction to Finance Winter 2025 (Dhillon School of Business)
FINC3490A Fintech Winter 2025 (Dhillon School of Business)

Projects

Private settlement, Fee Mechanism design, Policy making in DLT, Blockchain and DeFi (2020-2024)

SMART Realtime Supervision Trading System (SEO and Nasdaq) (2018-2019)

HFT Trade Engine System Design (with Cinnober, B3, Nasdaq) ATOS-Euronext (2017-2019)

High Frequency Trade Engine System Design (with Cinnober, B3, Nasdaq, ATOS-Euronext) (2017-2018)

Securitize Electricity and Exchange Establishment (with CSDI, IRENEX, Nord Pool) (2017 – 2018)

Cross-border International Settlement (with KSD, CSDI) (2016-2018)

Multi-Currency Clearing and Settlement MCNC (with CSDI, NSDL, MSX) (2012 – 2016)

Awards

  • CSI Scholarship , Canadian Securities Institute (CSI) Research Foundation. 2024
  • Open Doctoral Scholarship (GAC) , Faculty of Graduate Studies, University of Calgary. 2024
  • Marion Janet & Ian Stormont Forbes Scholarship , Haskayne School of Business, University of Calgary. 2024
  • Research Travel Grant, Swiss National Bank. 2024
  • Research Travel Grant, Sveriegs RiksBank (Sweden's Centarl Bank). 2024
  • CBER Summer School Travel Grant, Columbia University, New York, USA. 2024
  • 3MT Thesis Talk 3rd Place Winner 2024 Competition Medal and Prize, University of Calgary . 2024
  • Doctoral Scholarship, Faculty of Graduate Studies, University of Calgary. 2023
  • Research Travel Grant , Bank of Canada, Ottawa . 2023
  • Finance Research Travel Grant , University of Calgary, Haskayne School of Business. 2022
  • GSA Quality Money Project Award , University of Calgary, Graduate Student Association . 2023
  • Research Travel Grant , University of Bonn Germany . 2022
  • Alberta Innovates Graduate Student Scholarship, Provincial Award, Alberta Innovates . 2022
  • Alberta Innovates Graduate Student Scholarship, Provincial Award, Alberta Innovates . 2021
  • Eyes High International Doctoral Scholarship, University of Calgary, Faculty of Graduate Studies . 2021
  • Alberta Graduate Excellence Scholarship (AGES) , Provincial Award . 2020

In the News

More Information

Supervisors: Alfred Lehar and Alexander David

1) Lehar, A and Moravvej, M. (2022) Private Settlement in Blockchain Systems

  • (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4808685)

2) Lehar, A and Moravvej, M. (2023) Gas Tokens: Market for Future Settlement in Ethereum Blockchain

3) Moravvej, M. (2022) Settlement Microstructure of Bundled Transactions in Bitcoin Blockchain 

4) Moravvej, M. (2023) Silencing the Noise, Amplified Effects: Causal Study on Price Efficiency

5) Moravvej, M. and Sifat, I. (2024) Political Unrest and Bitcoin: A Safe Haven or a Fragile Shield?

Industry Paper: Canada Cryptocurrency Taxation White Paper (2024) with Canada Blockchain Consortium, Metrics, Government of Alberta, Bank of Canada, KPMG and etc

Projects: 

  1. Double-Edged Sword of Regulation in Crypto Markets (2024) with Danusha Rajapaksa
  2. Price Efficiency Under Daily Price Limit Regimes: Evidence from Emerging Markets (2024)

Lehar, A and Moravvej, M. (2024) “Private Settlement in Blockchain Systems”, “Rising Stars of Fintech”, FMA, Grapevine Texas, October 18 th, 2024.

Moravvej, M. (2024) “Silencing the Noise, Amplified Effects: Causal Study on Price Efficiency”, “Northern Finance Association”, Montreal, Canada, September 20th, Poster session

Moravvej, M. (2024) “Silencing the Noise, Amplified Effects: Causal Study on Price Efficiency”, “Economics of Financial Technology”, Edinburgh, Scotland, June 22th.

Lehar, A and Moravvej, M. (2024) “Private Settlement in Blockchain Systems”, “SNB-CIF Conference on Cryptoassets and Financial Innovation”, Swiss National Bank, Switzerland, May 24th.

Moravvej, M. (2024) “Silencing the Noise, Amplified Effects: Causal Study on Price Efficiency”, “Third PhD Workshop”, Sveriges Riks Bank, Sweden, Stockholm, April 29th.

Moravvej, M. (2024) “Silencing the Noise, Amplified Effects: Causal Study on Price Efficiency”, “Peer Beyond Graduate Symposium at Telus Spark Science Center”, University of Calgary, Canada, Calgary, February 22nd.

Lehar, A and Moravvej, M. (2023) “Gas Tokens: Market for Future Settlement in Ethereum Blockchain”, “DBA Group at Haskayne School of Business”, Calgary, Canada, November 28th.

Lehar, A and Moravvej, M. (2023) “Private Settlement in Blockchain Systems”, “Networks in Modern Financial and Payments Systems”, Ottawa, Canada, June 14-15.

Lehar, A and Moravvej, M. (2022) “Private Settlement in Blockchain Systems”, “Bonn Workshop on Digital Currencies”, Bonn, Germany, December 19.

Lehar, A and Moravvej, M. (2022) “Private Settlement in Blockchain Systems”, “Finance December Meetings”, Paris, France, December 15.

Lehar, A and Moravvej, M. (2022) “Private Settlement in Blockchain Systems”, “17th Central Bank Conference on the Microstructure of Financial Markets”, Sydney, Australia NSW, December 8-9.

Lehar, A and Moravvej, M. (2022) “Private Settlement in Blockchain Systems”, “Cardiff Fintech Conference”, Cardiff, Wales, UK, October 12.

Lehar, A and Moravvej, M. (2022) “Private Settlement in Blockchain Systems”, “Economics of Financial Technology Conference”, Edinburgh, Scotland, May 11-13.

Lehar, A and Moravvej, M. (2022) “Private Settlement in Blockchain Systems”, “4th Future of Financial Information Conference”, Stockholm, Sweden, May 18-20.

1) Finance Circle Graduate Students Research Gathering, University of Calgary (September 2023 - Present)

2) Fintech Teaching Lead for ESL Newcomers at Calgary Public Library (September 2023 - Present)

3) Mentor for International Students at the University of Calgary ( June 2023 - Present) 

4) Finance and IT Online Instructor at Wisdom House for Afghan Women (January 2023 - Present)

5) Executive Member at the Iranian Newcomers Helping Center during COVID-19 (Yara group) (2020 - 2022) 

6) Graduate Student's Association (GSA) Award Committee Member at University of Calgary (2020 - 2021)

7) Persian Gulf Charity Financial Committee Executive Member, Fund Raising Lead (2020 - 2022)

8) Executive Member at Doctoral Association for Students of Haskayne (DASH) (2020 - 2021) 

1) University of Calgary 3MT 2024 Competition 3rd Place Winner 

2) Ranked 3rd in Ph.D. level national university entrance exam for Hardware Engineering

3) Ranked 1st in B.Sc. level national university entrance exam for Electrical Engineering 

4) Studied at the National Organization of Development Exceptional Talents, graduated with Honor and Valedictorian

3MT Thesis Talk 3rd Place Winner Finalist (April 2024)

International Student Mentor Badge (Jan 2024)

The51 Financial Femenist Member Badge (April 2023)

Instructional Skills Workshop, University of Calgary (May 2023)

Cryptocurrency Regulation: How Should Practitioners and Policymakers React? , California MCLE, (February 2023)

Smart Money Financial Literacy Badge, University of Calgary (April 2023)

Developing Teaching Dossier badge, Taylor Institute (June 2020)

FINSTARS Mentoring Certificate, IFB (April 2019)

Market Microstructure, SEO (November 2017)

Financial Institution Management, SEO (September 2017)

Capital Market Analysis, SEO (September 2017)

Machine Learning and Deep Learning, IFC (May 2017)

Initial Public Offering Specialists, SEO (September 2017)

Future Contracts, SEO (September 2017)

Anti Money Laundering, SEO (January 2017)