IIM-Calcutta launches financial research lab

November 18th, 2008 - 8:34 pm ICT by IANS  

Kolkata, Nov 18 (IANS) The Indian Institute of Management-Calcutta (IIM-C) Tuesday launched a financial research and trading laboratory, the first of its kind in India.”Budgeted at Rs.1 crore (Rs.10 million), this is the first financial research and trading lab in India,” Ajit Balakrishnan, chief executive officer of Rediff.com and IIM-C board chairman, told reporters here.

“It will help students to test financial models with live market information from all major sources across the world, including the NSE, BSE and Bloomberg,” he added.

Asked if this was the right time to launch the project, Balakrishnan said it was. “The global financial meltdown has highlighted the need to create a new breed of finance experts who will be adept at creating and managing risks of innovative financial products such as derivatives.”

The laboratory with 51 terminals will have trading stimulator and data from NSE Cash, NSE Futures and Options (F&O), BSE Cash, NCDEX and MCX, as well as one Bloomberg terminal.

“We are planning to include real-time data of other financial markets like Money and Currency Market, and some more software like Revenpack, NewsAnalytics, Optirisk and Optimization Suite,” said Shekhar Chaudhuri, director of IIM-C.

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