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The Institute for Financial Markets (IFM) received a $2 million gift from The Clearing Corporation Charitable Foundation, an Illinois Not-for-Profit Corporation. It is the largest donation ever received by the IFM. The grant establishes an endowment to fund futures and options research designed to answer high-priority industry questions. These include: changing market structures; trading technologies; and the impact of regulation and speculation on risk management issues.
“This grant to the IFM demonstrates our serious commitment to serve as a catalyst for research and education in the industry. It will enable participants in the futures and options markets to use the independent findings to educate and to engage regulators and high-level policymakers in candid discussions on the markets,” said Michael C. Dawley, on behalf of The Clearing Corporation Charitable Foundation.
The gift was presented to the IFM at its fall Board of Trustees meeting, held in conjunction with the Futures Industry Association’s 25th Annual Futures and Options Expo. The Clearing Corporation Charitable Foundation previously awarded a $2 million grant to the University of Illinois to establish an Endowed Chair in Derivatives Trading.
Research topics for the IFM grant will be determined by an advisory panel, and researchers will be selected through an annual call for papers. Studies conducted by academics and/or industry professionals will be managed by the IFM. The studies also will be subjected to a peer-review process by Kent State University, and published in a special edition of the Review of Futures Markets, a financial journal. Research findings also will be presented through educational courses.
“The Institute is incredibly grateful for this generous endowment. An endowment of this magnitude enables the IFM to focus on multiple topics and will foster the advancement of financial market knowledge among industry participants, public policy-makers and the public,” said Peter Borish, IFM’s Chairman.
