IIT Bombay And Citadel Securities Join Hands To Advance Financial Market Research (Image: IIT Bombay)IIT Bombay and Citadel Securities, a leading global market maker announced to build the IITB-Citadel Securities Quantitative Research Lab in collaboration. The Lab will be part of the Institute’s upcoming ‘Centre for Research in Financial Markets’. The lab will be financed by Citadel Securities’ CSR grant, as part of the firm’s global philanthropic strategy to advance access to high-quality education.
Notably, Citadel Securities is a next-generation capital markets firm and a leading global market maker, providing institutional and retail investors with the liquidity to trade a broad array of equity and fixed-income products in any market condition.
Expressing appreciation towards Citadel Securities for the grant toward establishing a state-of-the-art lab dedicated to advancing financial market research, Prof. Subhasis Chaudhuri, Director, IIT Bombay said, “As India experiences rapid economic expansion, the necessity to cultivate research excellence in financial markets has become paramount. “Leveraging IIT Bombay’s robust research infrastructure, esteemed faculty, and talented student body, we are poised to generate impactful advancements in this critical domain”, he added.
Specifically, the IITB-Citadel Securities Quantitative Research Lab will conduct research across diverse areas of finance, including the application of mathematical and statistical methodologies in finance and risk management, as well as technological innovation in banking and financial markets, the institute said in a release. Moreover, this initiative will also facilitate relevant academic programs to all students at the undergraduate, postgraduate, and postdoctoral levels, and collaborate with banks and financial service companies to create tailored educational and research programs for students to gain real-world experience and contribute to the field.
Mentioning that India’s economy is growing at a robust pace, and its public market capitalization now ranks as the fifth largest globally at US$4.5 trillion, with the potential to reach US$10 trillion by 2030. However, India lags behind other markets in financial education, research, and development of financial products and services. It also requires the necessary regulatory and institutional infrastructure to support continued growth.
Anand Sinha, Head of Systematic Business, APAC, Citadel Securities said, “We are honored to partner with an esteemed institution such as IIT Bombay and to support its incredibly talented professors, students and researchers in the important work they are doing to advance the research and development required to build and sustain a vibrant, resilient, and efficient capital market”.