Academic Research on Futures and Derivatives Policy Issues
 CME Group Foundation is interested in encouraging academic research on futures and derivatives policy issues. In addition to grant support to the university of the Principal Investigator, Foundation approved research projects are eligible for free CME Group data related to the research. The Foundation Board has identified the following topics as those of greatest interest:
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What is the role of the futures markets in relation to global economic development?
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Is speculation beneficial to the global economy? What is the role of market liquidity and the relationship with speculative activity?
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What would the impact of a transaction tax be on the futures markets?
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Does the possibility of higher futures prices in commodities impact incentives for innovations in the provision of those commodities over the long-term?
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Are there alternative measures of volatility that may provide better indications of future volatility in exchange-traded derivatives?
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How should central party clearing organizations and exchanges manage their counterparty risk in an integrated global economy with multiple regulators and competing clearing and exchange organizations?
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How have FX futures markets been impacted by the banking capital adequacy crisis in Europe related to the sovereign debt problems?
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What is the potential role of exchange-traded derivatives in relation to fostering trade between China and its trading partners?
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What role did the futures markets play in the financial meltdown of 2008 and how comparable is that to past financial crises such as 1987?
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What are the benefits to end users of OTC products being cleared on a regulated futures and options exchange?
As a condition to receipt of the grant, each grant recipient will be required to produce the following documents: (1) a scholarly research paper of a quality that renders it capable of being accepted for publication in a high to mid-quality academic journal (the "Scholarly Paper"); (2) a practical applications paper written in layman terms highlighting the practical implications of the research (the "Practical Applications Paper"); and (3) a PowerPoint or similar set of presentation materials to describe the research suitable for use in research seminars for both scholars and finance practitioners (the "Presentation"). To the extent permitted by applicable copyright laws, the Foundation will make the papers and presentation available to the general public with the goal of educating undergraduate and graduate students so that they are better prepared for jobs in the financial services industry.
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