Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced the recipients of The Options Institute Research Grant Program for 2024, sponsored by S&P Dow Jones Indices (S&P DJI) and SpiderRock Advisors. The recipients for the grant programs are as follows:
- The Options Institute S&P Dow Jones Indices Fixed Income Index Ecosystem Research Grant:
- Siamak Javadi
- Dr. Ali Nejadmalayeri
- William Campbell
- The Options Institute SpiderRock Advisors Derivatives Solutions for Private Wealth and Institutional Investors Research Grant
- Anup Basu
- Adam Clements
The Options Institute, Cboe's education arm, has been providing best-in-class investor education on the responsible use of options and trading strategies for more than 35 years. The Options Institute Research Grant Program supports academic research that catalyzes the understanding and advancement of derivatives usage and financial exchange marketplace structures. Recent grant topics have included the exploration of dispersion as an asset class, the impact of inflation on options markets, and retail options trading behaviors.
"Academic research plays an important role in educating market participants and shaping the conversation around our products and markets, especially as they evolve and new innovations come to the forefront," said Alexandra Szakats, Head of The Options Institute at Cboe. "Cboe congratulates this year's esteemed grant recipients, and we are excited to support academic research that explores how derivatives can offer opportunity to private wealth and institutional investors. We are also very interested to delve into the cross-section of indexing and the fixed income ecosystem."
The Options Institute S&P Dow Jones Indices Fixed Income Research Grant
As recipients of The Options Institute S&P Dow Jones Indices Fixed Income Index Ecosystem Research grant, Mr. Javadi, Dr. Nejadmalayeri and Mr. Campbell will conduct research focused on price efficiency and liquidity in the fixed income index ecosystem.
Mr. Javadi, the lead researcher for the grant, is an Associate Professor of Finance at University of Texas Rio Grande Valley, and has held academic positions at Ohio University and California Polytechnic State University in San Luis Obispo. His primary research interests include corporate finance, corporate governance, climate finance and empirical asset pricing. Dr. Nejadmalayeri is the John A. Guthrie Endowed Chair in Banking and Financial Services and a Professor of Finance at the University of Wyoming College of Business. Mr. Campbell, who has over three decades of experience as a risk manager, trader and consultant to the financial industry, is a consultant and university lecturer in economics and finance at the University of Illinois – Urbana-Champaign.
"S&P Dow Jones Indices is proud of our ongoing collaboration with Cboe and to sponsor this timely and essential research on the fixed income marketplace. S&P DJI believes in the trusted and reliable performance metrics of fixed income indices and hopes that this grant only further advances the crucial role that indices serve in fixed income markets," said Frans Scheepers, Head of Fixed Income, Currency and Commodity Products at S&P Dow Jones Indices.
The Options Institute SpiderRock Advisors Derivatives Solutions Research Grant
The Options Institute SpiderRock Advisors Derivatives Solutions for Private Wealth and Institutional Investors Research Grant, awarded to Mr. Basu and Mr. Clements, will be focused on derivatives solutions within private wealth management and institutional investing. SpiderRock Advisors, as of May 2024, is a wholly owned subsidiary of BlackRock.
Mr. Basu, a Professor of Finance at Queensland University of Technology, has many years of experience in the banking and financial services industry and will serve as the lead researcher. His previous research focused on pension economics, investment management, and investor behavior. In 2023, Mr. Basu received the Government of India's SPARC grant for examining strategic asset allocation choices for India's National Pension System (NPS). Mr. Clements is a Professor in Finance at Queensland University of Technology, and his main research interests include financial econometrics, nonparametric estimation, time series modelling of asset return volatility and correlation and forecast evaluation.
"SpiderRock Advisors (SRA) has always incorporated research and academic principles in our investment management philosophy and commercial offering. SRA is committed to augmenting its investment management capabilities with industry leaders to continually deliver the highest value to our clients. We look forward to working alongside Mr. Basu and Cboe to further educate investors within the growing derivatives marketplace," said Eric Metz, President & Chief Investment Officer at SpiderRock Advisors.
Both research teams may claim Cboe historical data sets valued up to $35,000, subject to applicable terms and regulatory approvals.
