The Indian Institute of Technology (IIT) Bombay and Citadel Securities, one of the leading global market maker providing institutional and retail investors with the liquidity they need to trade, today, Thursday, April 18, announced that together they will build the IITB-Citadel Securities Quantitative Research Lab, as per a release, stated a report by ANI.
The lab will be part of the institute's upcoming Centre for Research in Financial Markets and will be financed by Citadel Securities' Corporate Social Responsibility (CSR) grant.
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.
"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," Prof Subhasis Chaudhuri, Director, IIT Bombay, said.
Anand Sinha, Head of Systematic Business, Asia–Pacific, 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."
