Cboe Global Markets Announces Winners of the 2024 Options Institute Research Grant Program, Sponsored by S&P Dow Jones Indices and SpiderRock Advisors

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Cboe Global Markets announced the winners of its 2024 Options Institute Research Grant Program, sponsored by S&P Dow Jones Indices and SpiderRock Advisors. The recipients include Siamak Javadi, Dr. Ali Nejadmalayeri, and William Campbell for the Fixed Income Index Ecosystem Research Grant, and Anup Basu and Adam Clements for the Derivatives Solutions for Private Wealth and Institutional Investors Research Grant.

The grants support academic research to advance understanding of derivatives usage and financial exchange structures. Recipients will use Cboe's historical data sets, valued up to $35,000, to conduct their research.

CHICAGO, July 9, 2024 /PRNewswire/ -- 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.

About Cboe Global Markets, Inc.

Cboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, FX, and digital assets, across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.

Media Contacts			Cboe Analyst Contact
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Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P DJI and SpiderRock Advisors. Investors should undertake their own due diligence regarding their securities, futures and investment practices. This press release speaks only as of this date. Cboe disclaims any duty to update the information herein.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction.  Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

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SOURCE Cboe Global Markets, Inc.

FAQ

What is the Cboe 2024 Options Institute Research Grant Program?

The Cboe 2024 Options Institute Research Grant Program is an initiative supporting academic research on derivatives and financial exchange marketplace structures, sponsored by S&P Dow Jones Indices and SpiderRock Advisors.

Who are the recipients of the 2024 Cboe Options Institute Research Grants?

The recipients are Siamak Javadi, Dr. Ali Nejadmalayeri, and William Campbell for the Fixed Income Index Ecosystem Research Grant, and Anup Basu and Adam Clements for the Derivatives Solutions for Private Wealth and Institutional Investors Research Grant.

What research topics will the 2024 Cboe grant recipients focus on?

The research topics include price efficiency and liquidity in the fixed income index ecosystem and derivatives solutions within private wealth management and institutional investing.

How are the 2024 Cboe Research Grants funded?

The 2024 Cboe Research Grants are sponsored by S&P Dow Jones Indices and SpiderRock Advisors.

What data will the Cboe 2024 Research Grant recipients use?

Recipients will use Cboe's historical data sets, valued up to $35,000, for their research.