November 19, 2008 1:49:38 am
With ripples of the global economic meltdown being felt across the world, educational institutions in the country are striving hard to create a new force of managers who can mitigate the risk of financial products.
Keeping this in mind, the Indian Institute of Management-Calcutta (IIM-C) has launched a Financial Research and Trading Lab — to cater to the needs in financial and quantitative fields. The institute has spent over Rs 1 crore for the first-of-its-kind finance lab in the country.
The lab will give an opportunity to students and faculty members to test financial models with “live” information from major markets across the world — NSE, BSE, MCX, MCDEX and Bloomberg. The lab will train students in data analysis through access to real-time national and international financial data, market information, business news and financial analysis software.
At present, the lab has 51 terminals with trading stimulator, through which the terminals can access the data from the markets.
“The lab will have a five-point agenda. It will help in teaching academic programmes, research on financial markets, product design and testing, executive education and organising international and national conferences for dissemination of knowledge,” said Prof Ashok Banerjee, one of the key minds behind the project.
The institute also plans a course on trading strategy for all management programmes offered by it. According to IIM-C officials, several firms have shown interest in getting their financial products tested at the institute. This initiative can well be a revenue-generation model for IIM-C.
“The country needs such labs. If someone comes up with an idea of a new derivative (derivative financial products) they can test models this way,” said Ajit Balakrishnan, CEO, rediff.com and chairman of the board of governors of IIM-C.
“Access to such a state-of-the-art technology will help us. We will have an edge over others and such a lab is a necessity for every student aspiring to be an investment banker,” said Piyush, a post-graduate student of IIM-C.
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