May 18, 2007 Derivatives 2007: New Ideas, New Instruments, New Markets NASDAQ DERIVATIVES RESEARCH PROJECT Introducing The NASDAQ Derivatives Research Project* * A subsidiary of the NYU Salomon Center
May 18, 2007 Derivatives 2007: New Ideas, New Instruments, New Markets MISSION OF THE DRP The primary goal of the NASDAQ Derivatives Research Project is to support research in Derivatives "Derivatives" is defined broadly, to include Risk Management, Financial Engineering, and other kinds of quantitative finance "Research" includes both information production and information dissemination –information production [research grants, data and software] –information dissemination [conferences big and small, DRP website, student organizations, visiting scholars] –both together [major support for the Stern Finance Ph.D. program] Key principle: The DRP seeks to promote intellectual connections and fruitful interaction between the academic and real world research communities
May 18, 2007 Derivatives 2007: New Ideas, New Instruments, New Markets DRP CONFERENCES, BIG AND SMALL Big Conferences "Risk Management: The State of the Art" (January 2000) "Derivatives 2003: Reports from the Frontiers (January 2003) "Derivatives 2007: New Ideas, New Instruments, New Markets" (May 2007)
May 18, 2007 Derivatives 2007: New Ideas, New Instruments, New Markets DRP CONFERENCES, BIG AND SMALL Smaller Conferences NASDAQ DRP Symposium Series (Friday afternoons) –Jan 2006 "Credit Derivatives" –Feb 2006 "Trading Volatility" –April 2006 "Trading Correlation" –Jan 2007 "Securitization" –Planned for : "Risk Management," "EFTs" DRP "Sponsors' Days" (overview of finance research at Stern) –next one planned for Spring 2008
May 18, 2007 Derivatives 2007: New Ideas, New Instruments, New Markets DRP RESEARCH SUPPORT Support for Students and Scholars Doctoral Fellowships for Stern Ph.D. students Support for MBA Financial Engineering Association and newly launched undergraduate Quantitative Finance Society DRP Visiting Scholar
May 18, 2007 Derivatives 2007: New Ideas, New Instruments, New Markets DRP RESEARCH SUPPORT Support for Derivatives Research Summer research grants for faculty Support for acquisition, development, and distribution of research data and tools Ad hoc support for promising projects
May 18, 2007 Derivatives 2007: New Ideas, New Instruments, New Markets DISSEMINATION OF KNOWLEDGE DRP Website ( DRP Newsletter
May 18, 2007 Derivatives 2007: New Ideas, New Instruments, New Markets DRP SPONSORS Sincere thanks to our sponsors who have generously provided the funding to launch and sustain the Derivatives Research Project –NASDAQ for their naming grant –ISE for major sponsorship of the Derivatives 2007 conference –and all of our other sponsors who have supported the DRP through the years