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How Mathematical Ideas Have Transformed the Financial Industry


Trent University Hosts Professor Tom Salisbury, President of Canadian Mathematical Society on March 21 for Special Presentation

Tuesday, March 20, 2007, Peterborough

The president of the Canadian Mathematical Society, Professor Tom Salisbury, will deliver a special presentation entitled “Modern Mathematical Finance, Applied to Insurance” at Trent University on Wednesday, March 21 from 1 p.m. to 2 p.m. in Room 115 in the Science Complex.

During his presentation, Prof. Salisbury will review some of the mathematical ideas that have changed the face of the finance industry during the last 25 years, with an emphasis on hedging. These ideas have had a significant impact on insurance companies in recent years, causing many to develop products that combine traditional mortality risk with market risk. In particular, Prof. Salisbury will describe his work on the pricing of guaranteed minimum death and withdrawal benefits conducted with Moshe Milevsky, associate professor of finance with the Schulich School of Business at York University.

This event was part of the new program emphasis in mathematical finance available to mathematics students at Trent University. Considered a new branch in mathematics, this specialization is designed to give students the rigorous mathematical, statistical and computing skills needed to apply them to the quantitative analysis of industrial, commercial or financial business decisions, or to undertake postgraduate work in these or related areas. Further information about this program is available by visiting the Mathematical Finance web site.

Interested members of the public are welcome to attend this free event.


For further information, please contact Marco Pollanen, assistant professor in mathematics at (705) 748-1011, ext. 7543