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NASHVILLE, Tenn. – Vanderbilt University announced today a gift of
percentage ownership from Interactive Brokers Group LLC (IBG) to
support the Financial Markets Research Center (FMRC) at the Owen
Graduate School of Management. Income from the gift-which, on Dec. 31,
2003, had a book value of $3 million-will provide permanent support for
the center, funding the maintenance of its databases and providing
support for faculty research projects in the area of financial markets.
On making the gift, Thomas Peterffy, chairman of IBG, commented, "We
are fortunate and excited to be able to support Vanderbilt’s FMRC. They
have made important contributions in the impartial academic study and
evaluation of various market mechanisms in the past, and we hope that,
with our contribution of additional resources, they will be able to
continue this work on an expanded scale. We believe that increasing the
efficiency of global financial markets may have just as great, if not a
greater, impact on the quality of life of people around the world than
many more conventional charitable activities. Based on the idea that
we’d better stick to a field that we know and understand, we are
pleased to make this contribution."
Headquartered in Greenwich, Conn., IBG includes electronic brokerage
and market making firms at the forefront of the electronic trading
industry. IBG, which includes direct access brokerage affiliate
Interactive Brokers and market making affiliate Timber Hill, has been
building trading technology since 1977. IBG’s global network has grown
to connect approximately 450 traders, programmers and support staff
located in offices and exchange floors around the world-including
Chicago, London, Canada, Switzerland, Hong Kong and Sydney. The group’s
consolidated equity capital exceeds $1.5 billion.
"The IBG gift in support of the Financial Markets Research Center
demonstrates the value placed on the research produced by our
outstanding faculty," said Owen School Dean William G. Christie. "The
investment by IBG will pay tremendous dividends as we shape the future
of our research efforts at Owen."
"This is a significant gift that reflects confidence in the
activities of the center and what we’re trying to do in carrying out
fundamental research in financial markets," said Hans Stoll, the Anne
Marie and Thomas B. Walker Professor of Finance at the Owen School and
director of the FMRC. Stoll added, "The gift will help us maintain the
infrastructure for research in financial markets and will enable us to
expand the activities of the center."
The FMRC was founded in 1987 to develop and support research in
financial markets and to enhance teaching of financial markets. The
center hosts conferences on topics of current interest, maintains
research databases and provides grants for research in financial
markets.
Founded in 1969, the Owen Graduate School of Management at
Vanderbilt University is ranked as a top institution by Business Week,
The Wall Street Journal, U.S. News & World Report, Financial Times
and Forbes. For more news about Owen, visit www.mba.vanderbilt.edu.
Media contact: Susanne Loftis, (615) 322-NEWS
Susanne.loftis@vanderbilt.edu