Patrik Sandas headshot

Patrik Vilhelm Sandas

Associate Professor
Unit: McIntire School of Commerce
Department: McIntire School of Commerce
Office location and address
Rouss & Robertson Halls, Room 368
40 South Lawn
Charlottesville, Virginia 22904
Ph.D., Financial Economics, Carnegie Mellon University
M.S., Financial Economics, Carnegie Mellon University
B.S., Business Administration, Hanken School of Economics, Helsinki

Professor Sandås’ current research focuses on the importance of transparency in securities markets, the interaction between speed and efficiency in securities markets, and how prevalent latency arbitrage is in faster markets. He currently teaches courses in investments and principles of securities trading and has taught courses in trading and markets, market microstructure, corporate finance, econometrics, and empirical methods.

Professor Sandås was a research affiliate of the Institute for Financial Research in Stockholm (SIFR) and a Riksbanken Visiting Professor from 2012 to 2016. Before joining the McIntire faculty in 2005, Professor Sandås was on the faculty of the Wharton School of the University of Pennsylvania. He has also been a visiting economist at the New York Stock Exchange. His paper "How Subprime Borrowers and Mortgage Brokers Shared the Pie" won a best paper award at the Auckland Finance Meeting in 2013.

ZFOR 3503: International Study
Placeholder course for students studying abroad
COMM 4589: Global Commerce Immersion: General Topics
Credits: 3
Global Commerce courses that do not count in any concentration.
COMM 4710: Intermediate Investments
Credits: 3
Provides an understanding of contemporary cash and derivative equity securities and markets. Both investment theory and its practical applications are considered. The primary perspective for most discussions is that of an institutional investor, although applications to personal finance are included. Both U.S. and international equity and fixed-income markets are discussed. Topics include asset allocation, portfolio theory, market efficiency, models of asset pricing, program trading, and equity options and financial futures. Prerequisite: Fourth-year Commerce standing or instructor permission.
COMM 4731: Advanced Investments: Principles of Securities Trading
Credits: 3
This course is about how securities are traded. It focuses on the design, operation and regulation of trading processes and mechanisms. The intellectual framework for the material comes from economics, financial economics, and a newer subfield of financial economics known as market microstructure. In-class simulations play an important role in the learning process in this course. If you have not completed COMM 3720/4710, request Instructor Permission.
COMM 4993: Independent Study in Commerce
Credits: 1–3
Independent study under the supervision of a Commerce instructor. A project directly related to business must be submitted to, and approved by, the supervising instructor prior to the Commerce School add date. Students may take COMM 4993 only once. Prerequisite: Fourth-year Commerce standing.
COMM 4995: Commerce Undergraduate Research
Credits: 3
Independent research under the supervision of a Commerce instructor: A research project directly related to business must be submitted to, and approved by, the supervising instructor and complet an approval process designated by the Associate Dean for the B.S. in Commerce degree prior to the Commerce School add date. Students may take Comm 4995 only once. Prerequisite: Fourth Year Commerce standing and a cumulative GPA at or above 3.4.