OPTIONS AND VOLATILITY CONFERENCE
The Financial Markets Research Center (FMRC) continues to make inroads in establishing itself as the leading academic center focused on financial markets worldwide, with two activities being critical to its success. First is supporting researchers who are focused on important and interesting problems. Recently, FMRC research support has resulted in publications in leading academic and practitioner journals on topics such as stock option contract adjustments, the early exercise of stock options, trading volatility, futures market volatility, and using stock option prices to infer overpayments and synergies in M&A transactions. Research publication is critical to enhancing the reputation of Vanderbilt’s FMRC.
Second is bringing together academics and practitioners to discuss important and timely issues. The FMRC does this through hosting semi-annual conferences at Vanderbilt University in Nashville. Over the past 28 years, Vanderbilt’s FMRC conferences have hosted some of the financial world’s most respected thinkers, including: former Fed Chairmen Paul Volcker and Alan Greenspan; Nobel laureates Eugene Fama, Robert Merton, Merton Miller, Robert Shiller, and Myron Scholes; and industry leaders like Leo Melamed, chairman emeritus of CME Group, William Brodsky, the longtime Chairman and CEO of the Chicago Board Options Exchange (OCC), and Thomas Peterffy, founder of Interactive Brokers. Summaries of the FMRC’s 2014 conferences are available at http://vanderbi.lt/fmrc (Spring) and http://vanderbi.lt/fmrc1 (Fall).
This year’s conference, Options and Volatility, extends the FMRC’s New Frontiers in Finance series and promises to be as important as any that we have hosted. The focus of the conference is on the information content of option prices, option market liquidity, and implied market volatility. On May 14-15, 2015, we are gathering individuals from around the globe to share their thoughts and ideas. Among them are Douglas T. Breeden from Duke University, Steve Figlewski from NYU, Neil Pearson from the University of Illinois at Urbana Champaign, Gurdip Bakshi from the University of Maryland, Bryan Kelly from the University of Chicago, and Michael O’Neill from the University of Queensland. Ed Tilly, President and CEO of the Chicago Board Options Exchange, will deliver the luncheon keynote address, discussing his views on bridging the gap between theory and practice in the options markets.
Robert E. Whaley
Valere Blair Potter Professor of Finance
Director, Financial Markets Research Center