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Tak Kuen (Ken) Siu


Photo of Tak Kuen (Ken) Siu

Formal Name: Tak Kuen (Ken) Siu

Personal Title: Doctor

Position: Associate Professor

Organisational Unit: Department of Actuarial Studies

Qualification: PhD, BSc (First Class), PGCAP

Telephone:(+61-2) 9850-8573

Fax: (+61 2) 9850 9481

Email: Ken.Siu@efs.mq.edu.au

Location: E4A 618


Tak Kuen Siu is an Associate Professor in Actuarial Studies at Macquarie University. His research areas are mathematical finance, actuarial science, risk management. His current research interests include regime-switching models in finance and actuarial science, pricing financial options and equity-linked insurance products, modeling credit risk, financial time series and volatility modelling, insurance risk models, asset allocation, game theoretic approach in finance and actuarial science.

His publications include articles published in leading journals such as Insurance: Mathematics and Economics, ASTIN Bulletin, North American Actuarial Journal, Scandinavian Actuarial Journal, Quantitative Finance, IEEE Transactions on Automatic Control, and others. He serves as a member in the editorial boards of several journals, including Stochastics, IMA Journal of Management Mathematics and Annals of Financial Economics. He is a reviewer of Mathematical Reviews for American Mathematical Society and serves as reviewers for journals in various fields including actuarial science, economics, finance, statistics and applied mathematics.

He has got his Ph.D. from the Department of Statistics and Actuarial Science at University of Hong Kong in 2001 and has got his B.Sc. (First Class Hons) in Mathematics (Statistics Options) from the Hong Kong University of Science and Technology in 1998. He has got the Postgraduate Certificate in Academic Practice in the Educational Development Unit at Heriot-Watt University in 2006. He is a Fellow of and Registered Practitioner for The Higher Education Academy, United Kingdom. He is a Research Affiliate of the Centre for Research into Industry, Enterprise, Finance and the Firm (CRIEFF) in the School of Economics and Finance at University of St Andrews, United Kingdom and a Member of Advanced Modeling and Applied Computing Laboratory in the Department of Mathematics at the University of Hong Kong. He was a Honorary Fellow of the College of Science and Engineering, The University of Edinburgh from 2004 to 2008. He has been an Affiliate Member of the Financial Integrity Research Network (FIRN), an ARC Research Network, since 2009. His biographical profile is listed in the 2006-2007 Edition of Marquis Who's Who in Science and Engineering, U.S.A.

Teaching

Research Interests

  • Risk Measurement and Management in Finance and Insurance
  • Regime-switching Models in Finance and Insurance
  • Pricing Derivative Securities and Equity-Linked Insurance Products,
  • Risk Measures and Analysis of Structured Products
  • Bayesian Methods for Risk Measurement
  • Modelling Term Structures and Credit Risk
  • Financial Time Series Analysis and Volatility Modelling
  • Insurance Risk Models
  • Asset Allocation in Finance and Insurance
  • Game Theoretic Approach in Finance and Actuarial Science
Tak Kuen Siu is interested in supervising research students who wish to research on mathematical finance, actuarial science and risk management science. Please feel free to contact Ken Siu to discuss the opportunity.

PhD Scholarships and Opportunities

Administration

  • Co-Director, Centre of Financial Risk, Faculty of Business and Economics
  • Member, Higher Degree Research Committee, Faculty of Business and Economics

Publications

  • Robert J. Elliott, Tak Kuen Siu and Alex Badescu (2010) On Mean-Variance Portfolio Selection Under a Hidden Markovian Regime-Switching Model. Economic Modeling. Accepted.
  • Robert J. Elliott and Tak Kuen Siu (2010) A Stochastic Differential Game for Optimal Investment of An Insurer With Regime Switching". Quantitative Finance. Accepted.
  • Robert J. Elliott and Tak Kuen Siu (2010) Risk-based Indifference Pricing Under A Stochastic Volatility Model". Communications on Stochastic Analysis. Special Issue for Professor G. Kallianpur. Accepted.
  • Cedric Yiu, Jingzhen Liu, Tak Kuen Siu and Wai Ki Ching (2010) Optimal Portfolios with Regime-Switching and Value-at-Risk Constraint". Automatica. Accepted.
  • Xin Zhang, Tak Kuen Siu and Qingbin Meng (2010) Portfolio Selection in the Enlarged Markovian Regime-Switching Market. SIAM Journal on Control and Optimization, 48(5), pp. 3368-3388.
  • Robert J. Elliott, Tak Kuen Siu and Hailiang Yang (2010). Filtering a Markov-Modulated Random Measure. IEEE Transactions on Automatic Control, Regular Paper, 55(1), pp.74-88.
  • Tak Kuen Siu (2009) Long-Term Strategic Asset Allocation With Inflation Risk and Regime Switching. Quantitative Finance. Accepted
  • Jonathan Wylie, Qiang Zhang and Tak Kuen Siu (2009) Can Expected Shortfall and Value-at-Risk be used to Statically Hedge Options? Quantitative Finance. Accepted.
  • Robert J. Elliott and Tak Kuen Siu (2009) Portfolio Risk Minimization and Differential Games. Nonlinear Analysis Series A: Theory, Methods and Applications, 71(12), pp. 2127-2135.
  • Robert J. Elliott and Tak Kuen Siu (2009) Discussion of Sheldon Lin, Ken Seng Tan and Hailiang Yang's Pricing Annuity Guarantees Under a Regime Switching            Model North American Actuarial Journal, 13(2), pp. 333- 337.
  • Wai Ki Ching, Tak Kuen Siu, Limin Li, Tang Li and Wai Keung Li (2009) A Parsimonious Multivariate Markov Chain Model for Credit Risk. Journal of Credit Risk, 5, pp. 1-25.
  • Tak Kuen Siu and Hailiang Yang (2009) Nonparametric Bayesian Credibility. Australian Actuarial Journal, 15(2), pp. 209-230.
  • Alex Badescu, Robert J. Elliott and Tak Kuen Siu (2009) Esscher Transforms and Consumption-Based Models. Insurance: Mathematics and Economics, 45(3), pp. 337-34.
  • Wai Ki Ching, Tak Kuen Siu, Limin Li, Tang Li and Wai Keung Li (2009) Modeling Default Data via an Interactive Hidden Markov Model. Computational Economics, 34(1), pp. 1-19.
  • Xin Zhang and Tak Kuen Siu (2009) Optimal Investment and Reinsurance of An Insurer With Model Uncertainty. Insurance: Mathematics and Economics, 45(1), pp. 81-88.
  • Tak Kuen Siu, Wai Ki Ching, Eric S. Fung, Michael Ng and Xun Li (2009) A Higher-order Markov-switching Model for Risk Measurement. Computers and Mathematics Applications, 58, pp. 1-10.      
  • Tak Kuen Siu and Hailiang Yang (2009) Option Pricing When the Regime-Switching Risk is Priced. Special issue of ACTA Mathematicae Applicatae Sinica (English Series), 25(3), pp. 369-388.
  • Robert J. Elliott and Tak Kuen Siu (2009) Robust Optimal Portfolio Choice Under Markovian Regime-switching Model. Methodology and Computing in Applied Probability, 11(2), pp. 145-157.
  • Robert J. Elliott and Tak Kuen Siu (2009) On Markov-Modulated Exponential-Affine Bond Price Formulae. Applied Mathematical Finance, 16(1), pp. 1-15 (lead article).
  • Tak Kuen Siu (2008). Esscher Transform: From Actuarial Science to Quantitative Finance. Encyclopedia of Quantitative Finance. Accepted.
  • Robert J. Elliott and Tak Kuen Siu (2008). Three Approaches to Stochastic Optimal Control and Their Applications to Optimal Consumption-Investment. Encyclopedia of Quantitative Finance. Accepted.
  • Robert J. Elliott and Tak Kuen Siu (2008) On Risk Minimizing Portfolios Under a Markovian Regime-Switching Black-Scholes Economy. Annals of Operations Research. Accepted.
  • Tak Kuen Siu, John W. Lau and Hailiang Yang (2008). Pricing Participating Products Under a Generalized Jump-Diffusion. Journal of Applied Mathematics and Stochastic Analysis, Volume 2008, Article ID 474623, 30 Pages, Doi: 10.1155/2008/474623
  • John W. Lau and Tak Kuen Siu (2008). On Option Pricing Under a Completely Random Measure Process via a Generalized Esscher Transform. Insurance: Mathematics and Economics, 43(1), pp. 99-107.
  • Robert J. Elliott and Tak Kuen Siu (2008). A Stochastic Differential Game for Portfolio Risk Minimization. IEEE Conference Proceedings of the 2008 American Control Conference, U.S.A., pp. 1017-1022.
  • John W. Lau and Tak Kuen Siu (2008). Modelling Long-Term Investment Returns via Bayesian Infinite Mixture Time Series Models. Scandinavian Actuarial Journal, 2008(4), pp. 243-282.
  • Tak Kuen Siu, Hailiang Yang and John W. Lau (2008). Pricing Currency Options Under Two-Factor Markov-Modulated Stochastic Volatility Models. Insurance: Mathematics and Economics (Festkolloquium for Professor Phelim P. Boyle), 43(3), pp. 295-302.
  • Tak Kuen Siu (2008). Discussion of Professor Phelim P. Boyle and Sun Siang Liew's Asset Allocation with Hedge Funds on the Menu (NAAJ Volume 11, Number 4, December 2007). North American Actuarial Journal, 12(2), pp. 213-215.
  • Tak Kuen Siu (2008). A Game Theoretic Approach to Option Valuation Under Markovian Regime-Switching Models. Insurance: Mathematics and Economics, 42(3), pp. 1146-1158.
  • Tak Kuen Siu and Hailiang Yang (2008). Option Pricing Under Nonlinear Time Series Models.PAMM (Special Issue: Sixth International Congress on Industrial Applied Mathematics (ICIAM07) and GAMM Annual Meeting, Zurich 2007), 7(1), pp. 1050501 - 1050502.
  • Tak Kuen Siu, Christina Erlwein and Rogemar S. Mamon (2008). The Pricing of Credit Default Swaps Under a Markov-Modulated Merton's Structural Model. North American Actuarial Journal, 12(1), pp. 19-46.
  • John W. Lau and Tak Kuen Siu (2008). Pricing Risky Debts Under a Markov-modulated Merton Model with Completely Random Measures. Computational Economics, 31(3), pp. 255-288.
  • Tak Kuen Siu, John W. Lau and Hailiang Yang (2008). Ruin Theory Under a Generalized Jump-Diffusion Model with Regime Switching. Applied Mathematical Sciences, 2(29), pp. 1415-1430.
  • Robert J. Elliott, Tak Kuen Siu and Leunglung Chan (2008). A P.D.E. Approach for Risk Measures for Derivatives With Regime Switching. Annals of Finance, 4(1), pp. 55-74.
  • Xun Li, Tak Kuen Siu and Zhenyu Wu (2007). Risk Hedging for Strategic Petroleum Reserve. Mathematical Modelling and Applied Computing. Accepted.
  • Tak Kuen Siu, Michael K. Ng and Eric S. Fung (2007). On Neural Network Conditional Autoregressive Value at Risk. Mathematical Modelling and Applied Computing. Accepted.
  • Tak Kuen Siu, John W. Lau and Hailiang Yang (2007). On Valuing Participating Life Insurance Contracts with Conditional Heteroscedasticity. Asia-Pacfic Financial Markets, 14(3), pp. 255-275.
  • Wai Ki Ching, Tak Kuen Siu and Li Min Li (2007). Pricing Exotic Options Under a High-Order Markovian Regime Switching Model. Journal of Applied Mathematics and Decision Sciences, vol. 2007, Article ID 18014, 15 pages, 2007. doi:10.1155/2007/18014.
  • Robert J. Elliott, Tak Kuen Siu and Hailiang Yang (2007). Martingale Representation for Contingent Claims With Regime Switching. Communications on Stochastic Analysis, 1(2), pp. 279-292.
  • Robert J. Elliott, Tak Kuen Siu and Hailiang Yang (2007). Insurance Claims Modulated by a Hidden Marked Point Process. IEEE Conference Proceedings of the 2007 American Control Conference , New York City, U.S.A., pp. 390-395.
  • Robert J. Elliott, Tak Kuen Siu, Leunglung Chan and John W. Lau (2007). Pricing Options Under a Generalized Markov Modulated Jump Diffusion Model. Stochastic Analysis and Applications, 25(4), pp. 821-843.
  • Tak Kuen Siu (2007). On Fair Valuation of Participating Life Insurance Policies With Regime Switching. In Hidden Markov Models in Finance, Eds. Rogemar Mamon and Robert J. Elliott, Springer's International Series in Operations Research and Management Science, pp. 31-42.
  • Wai Ki Ching, Michael K. Ng, Eric S. Fung, Tak Kuen Siu and Wai Keung Li (2007). Interactive Hidden Markov Models and Their Applications. IMA Journal of Management Mathematics, 18, pp. 85-97.
  • Robert J. Elliott, Tak Kuen Siu and Leunglung Chan (2007). Pricing Volatility Swaps Under Heston's Stochastic Volatility Model with Regime Switching. Applied Mathematical Finance, 14(1), pp. 41-62.
  • Robert J. Elliott, Leunglung Chan and Tak Kuen Siu (2006). Risk Measures for Derivatives with Markov-Modulated Pure Jump Processes. Asia-Pacific Financial Markets, 13(2), pp. 129-149.
  • John W. Lau, Tak Kuen Siu and Hailiang Yang (2006). On Bayesian Mixture Credibility. ASTIN Bulletin, 36(2), pp. 573-588.
  • Robert J. Elliott, Tak Kuen Siu and Leunglung Chan (2006). Option Pricing for GARCH Models with Markov Switching. International Journal of Theoretical and Applied Finance, 9(6), pp. 825-841 (lead article).
  • Tak Kuen Siu (2006). Option Pricing Under Autoregressive Random Variance Models. North American Actuarial Journal, 10(2), pp. 62-75.
  • Tak Kuen Siu, Howell Tong and Hailiang Yang (2006). Option Pricing Under Threshold Autoregressive Models by Threshold Esscher Transform. Journal of Industrial and Management Optimization, 2(2), pp. 177-197.
  • Tak Kuen Siu, Wai Ki Ching, Eric S. Fung and Michael K. Ng (2005). Extracting Information from Spot Interest Rates and Credit Ratings Using Double Higher-Order Hidden Markov Models. Computational Economics, 26, pp. 251-284.
  • Tak Kuen Siu, Wai Ki Ching, Eric S. Fung and Michael K. Ng (2005). On a Multivariate Markov Chain Model for Credit Risk Measurement. Quantitative Finance, 5(6), pp. 543-556.
  • Tak Kuen Siu (2005). Fair Valuation of Participating Policies With Surrender Options and Regime Switching. Insurance: Mathematics and Economics, 37(3), pp. 533-552.
  • Robert J. Elliott, Leunglung Chan and Tak Kuen Siu (2005). Option Pricing and Esscher Transform Under Regime Switching. Annals of Finance, 1(4), pp. 423-432.
  • Tak Kuen Siu, Howell Tong and Hailiang Yang (2004). On Bayesian Value at Risk: From Linear To Non-Linear Portfolios. Asia-Pacific Financial Markets, 11(2), pp. 161-184.
  • Tak Kuen Siu, Howell Tong and Hailiang Yang (2004). On Pricing Derivatives under GARCH models: A Dynamic Gerber-Shiu's Approach. North American Actuarial Journal, 8(3), pp. 17-31.
  • Wing Hoe Woo and Tak Kuen Siu (2004). A Dynamic Binomial Expansion Technique for Credit Risk Measurement: A Bayesian Filtering Approach. Applied Mathematical Finance, 11(2), pp. 165-186.
  • Robert J. Elliott, Tak Kuen Siu and Hailiang Yang (2003). On a Generalized Form of Risk Measure. Australian Actuarial Journal, 9(4), pp. 591-628.
  • Phelim P. Boyle, Tak Kuen Siu and Hailiang Yang (2002). Risk and Probability Measures. Risk, 15(7), pp. 53-57 (lead article). Reprinted in: Risk Itatia, October, 2002, pp. 43-47.
  • Tak Kuen Siu, Howell Tong and Hailiang Yang (2001). Bayesian Risk Measures for Derivatives via Random Esscher Transform. North American Actuarial Journal, 5(3), pp. 78-91.
  • Hailiang Yang and Tak Kuen Siu (2001). Coherent Risk Measures for Derivatives under Black-Scholes Economy. International Journal of Theoretical and Applied Finance, 4(5), pp. 819-835.
  • Tak Kuen Siu and Hailiang Yang (2000). A P.D.E. Approach for Measuring Risk of Derivatives. Applied Mathematical Finance, 7(3), pp. 211-228.
  • Tak Kuen Siu and Hailiang Yang (1999). Subjective Risk Measures: Bayesian Predictive Scenarios Analysis. Insurance: Mathematics and Economics, 25(2), pp. 157-169.

 

Other Research Activities

Research Grants and Scholarships

  1. Discovery Grant, Australian Research Council (ARC), Grant number: DP1096243,
    • Title: Risk Measures and Management in Finance and Actuarial Science Under Regime-Switching Models, Chief Investigator, (With Professor Robert J. Elliott), Amount 195,000 AUD, 2010-2012.
  2. Risk Management Institute, National University of Singapore, RMI Credit Rating Research Grant, Co-investigator, (With Professor Robert J. Elliott and Dr. Eric S. Fung), 2010.
  3. Hong Kong RGC grant, Title: Risk Management of Equity-Linked Insurance Products, Co-investigator, (With Professor Hailiang Yang), Amount: 558,720 HKD, 2008-2010. 
    • 2008: Merit Award for General Research Fund (GRF) Project with Professor Hailiang Yang, University Research Committee, University of Hong Kong, Amount: 40,000 HKD
  4. Curtin University of Technology, Department of Mathematics, Start-up grant,
    • Title: Research in Financial Mathematics and Actuarial Science, Chief Investigator, Amount: 20,000 AUD, 2008-2009.
  5. Hong Kong RGC grant, Grant number: 7017/07P, Title: On Perron-Frobenius Theory for Multivariate Markov Chains with Applications, Co-investigator, (With Dr. Wai-Ki Ching), Amount: 250,000 HKD.

Service Activities within College and Profession

  1. Associate Editor: Stochastics: An International Journal of Probability and Stochastic Processes (since 2008); IMA Journal of Management Mathematics (since 2009); Annals of Financial Economics (since 2007); Mathematical Modelling and Applied Computing (since 2006)
  2. Reviewer for Research Grants: Engineering and Physical Sciences Research Council, United Kingdom (2008); The Research Grants Council (RGC) of Hong Kong, Hong Kong SAR (2009)
  3. Reviewer for Mathematical Review (American Mathematical Society)
  4. Reviewer for Peer-Reviewed Journals/Conference Proceedings:
Communications in Statistics: Theory and Methods; Journal of Industrial and Management Optimization; ASTIN Bulletin; Insurance Mathematics and Economics; Decisions in Economics and Finance; Mathematical Finance; IMA Journal of Management Mathematics; 2007 American Control Conference; North American Actuarial Journal; Review of Financial Economics; Journal of Futures Markets; 2008 American Control Conference; Applied Stochastic Models in Business and Industry; Journal of Applied Statistics; Pacific Journal of Optimization; Economic Modelling; Journal of Banking and Finance; Quantitative Finance; Annals of Operations Research; Methodology in Applied Probability and Computing; Optimization and Engineering; SIAM Journal of Control and Optimization; Applied Mathematics and Computation; Statistics and Computing; International Journal of Theoretical and Applied Finance; Acta Mathematica Applicatae Sinica (English Series); Journal of Computational and Applied Mathematics; Mathematical Methods of Operations Research; Asia-Pacific Financial Markets; Applied Mathematics Letters; Springer's Handbook on Innovative Quick Response Programs in Logistics & Supply Chain Management; Stochastic Models

Mathematical Reviews (American Mathematical Society)

  1. Review on "Option Pricing Driven by Compound Poisson Process and Meixner Process", (Math. Appl. (Wuhan)) by Feng, Ya Qin, Wan, Jian Ping and Li, Shang Hong. Mathematical Reviews, 18, 2005, MR2197249.
  2. Review on "The Pricing for a Class of Barrier Options", (J. Fudan Univ. Nat.Sci.) by Rong Hu, Nan-jing Huang, Chang-wen Zhao and Byung-Soo Lee. Mathematical Reviews, 11(1), 2006, MR2251463.
  3. Review on "Research on the Portfolio Selection of Risk-Averse Investors", (Nonlinear Anal. Forum) by Fang Shu-hong. Mathematical Reviews, 45(2), 2006, MR2197249.
  4. Review on "Intertemporal Price-Quality Discrimination and the Coase Conjecture", (J. Math. Econom.) by Praveen Kumar. Mathematical Reviews, 42, 2006, MR2268708.
  5. Review on "The Arbitrage Pricing Theorem with Incomplete Preferences", (Mathematical Social Sciences) by David Kelsey and Erkan Yalcin. Mathe matical Reviews, 54, 2007, MR2335257.
  6. Review on "Indifference Pricing and Hedging for Volatility Derivatives", (Applied Mathematical Finance), by Grasselli, M. R. and Hurd, T. R. Mathemat- ical Reviews, 14(4), 2007, MR2349306.
  7. Review on "Pricing Financial Claims Contingent Upon an Underlying Asset Monitored at Discrete Times", (Journal of Engineering Mathematcs) by Green, Ross, Abrahams, David I. and Fusai, Gianluca. Mathematical Reviews, 59, 2007, MR2373799.
  8. Review on "Minimal Pricing Models for European Stock Options Under Knight's Uncertainty", (J. Shandong Univ. Nat. Sci.) by Nie, Xiu Shan. Mathematical Reviews, 42(11), 2007, MR2404366.
  9. Review on "Valuation of Two Quanto Options Under a Single-Factor HJM Term Structure", (Math. Appl. (Wuhan)) by Li, Shu Jin. Mathematical Reviews, 21(2), 2008, MR2431311.
  10. Review on "Scenarios for Price Determination in Incomplete Markets", (Int. J. Theor. Appl. Finance) by Xanthopoulos, S.Z. and Yannacopoulos, A.N. Mathematical Review, 11(5), 2008, MR2450223

Conferences and Invited Seminars

  1. Conference for Researchers in Social Science, 2000, Faculty of Social Science, University of Hong Kong
  2. Quantitative Methods in Finance and Bernoulli Society 2000 Conference, University of Technology, Sydney (December 2000)
  3. Conference for Researchers in Social Science, 2001, Faculty of Social Science, University of Hong Kong
  4. Invited Speaker, Institute of Statistical Science, Academia Sinica, Taiwan (February 2001)
  5. The Fifth ICSA International Conference, University of Hong Kong (August2001)
  6. Invited Speaker, NUS Inter-faculty seminar on Financial Mathematics, National University of Singapore (January 2002)
  7. Invited Speaker, Department of Statistics and Actuarial Science, Feng Chia University, Taiwan (March 2003)
  8. Invited Speaker, Conference on Insurance Mathematics, Ruin Theory and Monte Carlo Methods, University of Hong Kong (June 2004)
  9. Seminar in Financial Mathematics, Department of Actuarial Mathematics and Statistics, School of Mathematical and Computer Sciences, Heriot-Watt University, Edinburgh, United Kingdom (March 2005)
  10. Invited Speaker, Operational Research and Optimization Group, School of Mathematics, University of Edinburgh, United Kingdom (March 2005)
  11. Actuarial Teaching and Research Conference, Department of Actuarial Mathematics and Statistics, Heriot-Watt University, Edinburgh, United Kingdom (July 2005)
  12. A Conference in Honor of Professor Robert J. Elliott, Haskayne School of Business, University of Calgary, Canada (July 2005)
  13. 10th International Congress on Insurance: Mathematics and Economics, Catholic University of Leuven, Belgium (July 2006)
  14. Invited Speaker, Department of Systems Engineering and Engineering Management, Chinese University of Hong Kong (January 2007)
  15. Invited Speaker, Colloquium, Department of Mathematics, Hong Kong Baptist University (January 2007)
  16. Invited Speaker, Department of Mathematics and Statistics, York University, Canada (March 2007)
  17. Invited Speaker, School of Economics and Finance, University of St. Andrew, United Kingdom (November 2007)
  18. Quantitative Methods in Finance and Bernoulli Society 2007 Conference, University of Technology, Sydney, Australia (December 2007)
  19. 12th International Congress on Insurance: Mathematics and Economics, Dalian, China (July 2008); Presentation and the chair of a session
  20. Departmental seminar, Department of Mathematics and Statistics, Faculty of Science and Engineering, Curtin University of Technology, Perth, Western Australia, Australia (August 2008)
  21. Invited Speaker, Department of Actuarial Studies, Macquarie University, Sydney, Australia (August 2008)
  22. Quantitative Methods in Finance and Bernoulli Society 2008 Conference, University of Technology, Sydney, Australia (December 2008)
  23. Invited Speaker, School of Mathematics and Statistics, The University ofWestern Australia, Perth, Australia (March 2009)
  24. Invited Speaker, Workshop on Stochastic Analysis and Finance, City University of Hong Kong, Hong Kong (June-July 2009)
  25. Departmental Seminar, Department of Actuarial Studies, Faculty of Business and Economics, Macquarie University, Sydney, Australia (August 2009)