Indian Institute of Technology (IIT) Bombay and Citadel Securities have announced that together they will build the IITB-Citadel Securities Quantitative Research Lab.
It will be part of the institute’s upcoming ‘Centre for Research in Financial Markets’ and will be financed by Citadel Securities’ CSR grant, as part of the firm’s global philanthropic strategy to advance access to high-quality education.
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 statement.
The lab will also facilitate academic programs for 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.
“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… The grant will strengthen our capabilities and will yield substantial and far-reaching outcomes,” said Professor Subhasis Chaudhuri, director of IIT Bombay.
“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,” said Anand Sinha, head of systematic business, APAC of Citadel Securities.
The article originally appeared on MoneyControl.
