Transforming exchange rate forecasts
The course had its challenges. There were times, he remembers, when he wondered what he had taken on.
"At the beginning, I had no idea what 'stochastic' meant. I was learning another language before I could even read the subject!" he recalls.
But Frederick's decades of industry knowledge created an exciting opportunity to investigate some clear shortcomings in the financial sector.
He began to uncover flaws in models used by financial markets to forecast the direction of the exchange rate market in trading.
"I'm looking for a formula that takes inputs from derivatives and other aspects of the markets and gives you a magnitude and directional change of future exchange rates, so you can actually hedge them or even speculatively trade them", he explains.
"There is a model out there which the markets are using, unaware of its flaws, and that needs to be investigated and researched. That’s why I’m excited to take it on."
He has since registered for a PhD to explore this issue in greater detail.
A breakthrough for human understanding
This could prove a major breakthrough for traders, investors and Forex markets amid concerns that future financial stability is under threat from our reliance on technology.
Veteran journalist Anthony Hilton recently called for 'people who understand tech' following a warning from MIT that the speed of financial markets is outpacing human understanding.
Frederick's story marks a perfect remedy to this information deficit, and one that provides the sense of fulfilment that has eluded him in earlier roles.
"As the years pass by, you feel the opportunity to make a difference and to pursue what you really want slips further and further away and becomes even less likely", he says.
"The University of London gives you a wonderful opportunity to do something at a really high standard and sustain it for a period of time.
"In the end, you’ll look back and laugh as I laugh now at what you can achieve."