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The Clearing Corporation Charitable Foundation, a not-for-profit corporation of the State of Illinois, today announced a grant in the amount of $2,000,000 to the University of Illinois College of Agricultural, Consumer and Environmental Sciences (ACES).
The grant will establish The Clearing Corporation Foundation Endowed Chair in Derivatives Trading in the college’s Department of Agricultural and Consumer Economics. The appointed professor will have expertise and academic abilities within the field of derivatives trading.
“The generosity of the Clearing Corporation Foundation helps us build on one of our traditional research and academic strengths, dating back over 40 years ago when Tom Hieronymus was establishing the University of Illinois as a premiere institution in the futures industry," said Dr. Robert J. Hauser, head of the Department of Agricultural and Consumer Economics. “Given the importance of The Clearing Corporation to that industry, we are pleased to be able to recognize and honor it through the named chair."
A spokesman for The Clearing Corporation Charitable Foundation indicated that the Foundation’s directors are pleased to announce the $2,000,000 grant to the University of Illinois and hope that the grant will serve, in part, to recognize The Clearing Corporation’s history and longstanding reputation within the financial services industry.
The Foundation’s directors chose the University of Illinois based upon its status as one of the Nation’s leading academic institutions and the University’s dedication, in particular, to education relating to the derivatives industry. The Foundation intends that the derivatives industry will benefit from the University’s continuing educational focus on issues and studies that impact our business.
Dr. Philip Garcia, the T.A. Hieronymus Distinguished Chair in Futures Markets and director of the U of I Office for Futures and Options Research, said that developing a comprehensive understanding of futures and options markets and transmitting that knowledge to their users has been an important dimension of the department’s mission. “The addition of these new resources will ensure that we will be able to maintain and strengthen this tradition. We are thankful for the generosity of The Clearing Corporation Charitable Foundation and pleased with the challenges that we will be able to address effectively in the future.”
