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2018 CME Group - MSRI Prize March 01, 2018 All Day
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2018 CME Group-MSRI Prize Announced

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The 13th annual CME Group-MSRI Prize in Innovative Quantitative Applications will be awarded to Albert S. (Pete) Kyle, Charles E. Smith Chair in Finance at the Robert H. Smith School of Business, University of Maryland, at The Chicago Cultural Center in Chicago, IL on April 8, 2019.

The CME Group-MSRI Prize is awarded to an individual or a group to recognize originality and innovation in the use of mathematical, statistical or computational methods for the study of the behavior of markets, and more broadly of economics.

 

About Albert S. (Pete) Kyle

Albert S. (Pete) Kyle has been the Charles E. Smith Chair Professor of Finance at the University of Maryland’s Robert H. Smith School of Business since 2006.  He earned is B.S. degree in mathematics from Davidson College (summa cum laude, 1974), studied philosophy and economics at Oxford University as a Rhodes Scholar from Texas (Merton College, 1974-1976, and Nuffiled College, 1976-1977), and completed his Ph.D. in economics at the University of Chicago in 1981.  He has been a professor at Princeton University (1981-1987), the University of California Berkeley (1987-1992), and Duke University (1992-2006). 

Kyle’s research focuses on market microstructure, including topics such as high frequency trading, informed speculative trading, market manipulation, price volatility, the informational content of market prices, market liquidity, and contagion. 

His teaching interests include market microstructure, institutional asset management, venture capital and private equity, corporate finance, option pricing, and asset pricing. 

He is a Fellow of the American Finance Association in (2013) and a Fellow of the Econometric Society (2002) .  He has been a board member of the American Finance Association (2004-2006).  He holds an honorary doctoral degree from the Stockholm School of Economics (2013). He was a staff member of the Presidential Task Force on Market Mechanisms (Brady Commission, 1987), a consultant to the SEC (Office of Inspector General), CFTC, and U.S. Department of Justice, a member of NASDAQ’s economic advisory board (2004-2007), a member of the FINRA economic advisory board (2010-2014), and a member of the CFTC’s Technology Advisory Committee (2010-2012).

About the event

Prior to the lunch and award presentation, a panel discussion on Equity Market Design in the 21st Century will be held with the following panelists:

  • Torben Anderson, Nathan S. and Mary P. Sharp Professor of Finance, Director of the International Business & Markets Program and Research Center, Northwestern University
  • Eric Budish, Professor of Economics, University of Chicago Booth School of Business
  • Anna Obizhaeva, Professor of Economics, New Economic School
  • Jose Scheinkman, Charles and Lynn Zhang Professor of Economics, Columbia University. 2014 CME-MSRI Prize
  • S. (Vish) Viswanathan, F. M. Kirby Professor of Investment Banking, Duke University

Luncheon remarks, an appreciation of the life and work of Albert S. (Pete) Kyle:

  • Wei Xiong, Trumbull-Adams Professor of Finance and Professor of Economics, Princeton University

Albert S. (Pete) Kyle will present at talk on Market Microstructure Invariants.

2018 CME Group-MSRI Prize Selection Committee:

  • Douglas Diamond, Merton H. Miller Distinguished Service Professor of Finance
  • Darrell Duffie, Dean Witter Distinguished Professor of Finance at the Graduate School of Business, and professor by courtesy, Department of Economics, Stanford University
  • David Eisenbud, prize committee chair; Director, MSRI; Professor of Mathematics, UC Berkeley
  • Jack Gould, Steven G. Rothmeier Professor and Distinguished Service Professor of Economics, University of Chicago Booth School of Business
  • Sandy Grossman, Chairman & CEO, Quantitative Financial Strategies, Inc.; 2009 CME-MSRI Prize recipient
  • Andrew Lo, Charles E. and Susan T. Harris Professor, Professor of Finance and Director of the Laboratory for Financial Engineering, MIT Sloan School of Management
  • R. Preston McAfee, Chief Economist & Corp VP, Microsoft
  • Leo Melamed, Chairman Emeritus, CME Group; Chairman, Melamed & Associates
  • Paul Milgrom, Shirley and Leonard Ely professor of Humanities and Sciences in the Department of Economics and professor, by courtesy, at both the Department of Management Science and Engineering and the Graduate School of Business at Stanford University
  • Al Roth, Craig  and  Susan  McCaw  Professor  of  Economics,  Department  of  Economics, Stanford University
  • Thomas Sargent, Professor of Economics, New York University; Senior Fellow, Hoover Institution, Stanford, CA
  • Jose Scheinkman, Charles and Lynn Zhang Professor of Economics, Columbia University; 2014 CME-MSRI Prize
  • Myron Scholes, Frank E. Buck Professor of Finance, Emeritus, Stanford Graduate School of Business; 1997 Nobel Prize Winner
  • Nancy Stokey, Frederick Henry Prince Distinguished Service Professor of Economics, University of Chicago

 

 

Medal awarded to the winner of the CME Group-MSRI Prize

 

The CME Center for Innovation’s mission is to identify, foster and showcase examples of significant innovation and creative thinking pertaining to markets, commerce or trade in the public and private sectors.

 
A list of past winners can be found on the CME Group-MSRI Prize site.
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