Yale's Dr. Jonathan Ingersoll Receives the 2002 IAFE/SunGard Financial Engineer of the Year Award.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 29, 2002 SunGard Trading and Risk Systems, an operating group of SunGard (NYSE NYSE See: New York Stock Exchange : SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. ), and the International Association of Financial Engineers The International Association of Financial Engineers (IAFE) is a non-profit professional society dedicated to fostering the field of financial engineering. The IAFE hosts several panel discussions throughout the year to discuss the issues that affect the industry from both academic today announced that Dr. Jonathan Ingersoll This article is about the politician. For other uses, see Ingersoll (disambiguation). Jonathan Ingersoll was a Connecticut politician of the late eighteenth and early nineteenth centuries. of the Yale School of Management The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University and is located on Hillhouse Avenue in New Haven, Connecticut, United States. The School offers M.B.A. and Ph.D. degree programs. has been named the 2002 IAFE/SunGard Financial Engineer of the Year. The award will be presented to Dr. Ingersoll on February 4, 2003 at the United Nations in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. during the IAFE's annual Financial Engineer of Year awards dinner. The IAFE/SunGard Financial Engineer of the Year Award recognizes individual contributions to the advancement of financial engineering technology. As the tenth recipient of the award since its inception in 1993, Dr. Ingersoll joins a prestigious list of previous award winners. Dr. Ingersoll was selected for this award for his historic contributions to research and education in multiple areas of finance and economics. Dr. Ingersoll is currently the Adrian C. Israel Professor of International Trade and Finance at Yale University's School of Management. He said, "I am honored to be named the Financial Engineer of the Year. Most of my academic life has centered on derivatives. In 1973, the CBOE CBOE See: Chicago Board Options Exchange CBOE See Chicago Board Options Exchange (CBOE). opened, the Black-Scholes model was published, and I entered the doctoral program at MIT MIT - Massachusetts Institute of Technology . I like to think we grew up together. Derivatives have received a lot of bad press lately, but like any invention, they can be put to good use or ill. I hope that continued research in this area, will improve our understanding of financial contracting. It is now common to say that one's accomplishments could not have been made without the prior work of others, but it has never been more true than in my case. I owe so much to my teachers and contemporaries many of whom have already been named recipients of this same award. Bob Merton and Fischer Black were on my dissertation committee at MIT. John Cox and Steve Ross were, of course, my co-authors on numerous papers. Myron Scholes and Merton Miller were my colleagues when I began my career at Chicago." Jim Ashton, chief executive officer of SunGard Trading and Risk Systems and a member of the IAFE IAFE International Association of Financial Engineers IAFE International Association of Fairs and Expositions IAFE Instituto de Astronomia y Fisica del Espacio (Buenos Aires, Argentina) board of directors, said, "Dr. Ingersoll's work continues to have a very significant impact on the world of international finance and economics. With this award, we seek to honor his lifetime of achievements." Tanya Styblo Beder, chairman of the IAFE, added, "Dr. Ingersoll's work has irrevocably changed how academics and practitioners view many aspects of finance. Jonathan's insights into the inner pricing of options and derivatives deserve this special acclaim. As chair of the IAFE, as well as a colleague of Dr. Ingersoll's at Yale, I congratulate him on being voted Financial Engineer of the Year 2002." Biographical Information on Dr. Jon Ingersoll Jonathan Ingersoll is the Adrian C. Israel Professor of International Trade and Finance at Yale University's School of Management. There he teaches Financial Instruments and Contracts and Financial Engineering. Prior to teaching at Yale, Dr. Ingersoll was a member of the faculty of the University of Chicago's Graduate School of Business. Dr. Ingersoll was a member of the Founding Committee of the Society for Financial Studies and served as the editor of its The Review of Financial Studies. He is currently associate editor of The Review of Derivatives Research. Throughout his exceptional career, Dr. Ingersoll has specialized in the fields of valuation of options and derivative securities. He has authored a multitude of articles in this area as well as the textbook, Theory of Financial Decision Making. Dr. Ingersoll received his S.B. in Physics from M.I.T. in 1971 and his S.M. and Ph.D. from the Sloan School of Management, M.I.T., in 1973 and 1976. Previous Award Recipients Dr. Ingersoll joins a prestigious list of recipients of the IAFE/SunGard Financial Engineer of the Year Award. They include: Dr. Andrew Lo, Harris & Harris Group Professor at the MIT Sloan School of Management The MIT Sloan School of Management is one of the five schools of the Massachusetts Institute of Technology, located in Cambridge, Massachusetts, USA. It is one of the world's leading business schools, conducting research and teaching in finance, entrepreneurship, marketing, and director of MIT's Laboratory for Financial Engineering; Emanuel Derman, managing director at Goldman, Sachs & Co. where he heads the derivatives analysis group in firm-wide risk; John Hull, Professor of Finance in the Joseph L. Rotman School of Management at the University of Toronto Research at the University of Toronto has been responsible for the world's first electronic heart pacemaker, artificial larynx, single-lung transplant, nerve transplant, artificial pancreas, chemical laser, G-suit, the first practical electron microscope, the first cloning of T-cells, ; John C. Cox John Carrington Cox is the Nomura Professor of Finance at the MIT Sloan School of Management. He is one of the world's leading experts on options theory and one of the inventors of the Cox-Ross-Rubinstein model for option pricing, as well as of the Cox-Ingersoll-Ross model for , Nomura Professor of Finance at the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, ; Robert Merton, a Nobel Memorial Prize winner in Economic Sciences; Fischer Black, the co-developer of the Black-Scholes formula which is widely used to value stock options in markets throughout the world; Mark Rubinstein, best known for his work on the Cox-Ross-Rubinstein binomial binomial (bī'nō`mēəl), polynomial expression (see polynomial) containing two terms, for example, x+y. The binomial theorem, or binomial formula, gives the expansion of the nth power of a binomial (x+ option pricing approach and his work on exotic options; Stephen Ross, the originator of the Arbitrage Pricing Theory Arbitrage Pricing Theory (APT) An alternative model to the capital asset pricing model developed by Stephen Ross and based purely on arbitrage arguments. The APT implies that there are multiple risk factors that need to be taken into account when calculating risk-adjusted and the co-discoverer of risk neutral pricing and of the binomial model for pricing derivatives; and Robert Jarrow, 1993 Mobil scholar, most recently known for his research relating to the pricing of credit derivatives and exotic options. About the International Association of Financial Engineers (IAFE) The IAFE is a professional society dedicated to fostering the profession of quantitative finance by providing platforms to discuss cutting-edge and pivotal issues in the field. Founded in 1992, the IAFE is composed of individual academics and practitioners from banks, broker dealers, hedge funds, pension funds, asset managers, technology firms, regulators, accounting, consulting and law firms, and universities across the globe. Visit IAFE at www.iafe.org About SunGard Trading and Risk Systems SunGard Trading and Risk Systems provides integrated, enterprise-wide solutions for financial and energy trading, risk management and operations, as well as asset liability management and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against and forecasting. Serving over 600 clients, it offers Web-enabled solutions for achieving straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. , and for managing market, credit and operational risk. Clients include financial institutions, energy companies, government agencies and corporations of every size, geographical reach and operational complexity. SunGard Trading and Risk Systems also offers systems integration, project management and consulting services. About SunGard SunGard is a global leader in integrated IT solutions for financial services. SunGard is also the pioneer and leading provider of information availability services. SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services institutions. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenues of $2 billion. Visit SunGard at www.sungard.com. Trademark Information: SunGard, the SunGard logo, and Credient are trademarks or registered trademarks of SunGard Data Systems Inc. in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders. |
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