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The CME Group-MSRI Prize in Innovative Quantitative Applications

The CME Group-MSRI Prize in Innovative Quantitative Applications was established in 2006 by the CME Group and MSRI. The award recognizes an individual or a group for 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. The prize recipient receives a commemorative bronze medallion and a cash award of $25,000, presented during a celebration held at the CME Group headquarters in Chicago.

The recipients of the CME Group-MSRI Prize and Medal are:

  • 2015: Douglas W. Diamond, Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business

  • 2014: José Scheinkman, Charles and Lynn Zhang Professor of Economics at Columbia University and Theodore A. Wells ‘29 Professor of Economics Emeritus at Princeton University

  • 2013: Bengt Holmstrom, Professor of Economics and Management at Massachusetts Institute of Technology (MIT)

  • 2012: Robert J. Shiller, Sterling Professor of Economics, Department of Economics and Cowles Foundation for Research in Economics, Yale University, and Professor of Finance and Fellow at the International Center for Finance, Yale School of Management, and 2008 honoree / 2013 winner of the Nobel Prize in economic science

  • 2011: Thomas Sargent, Professor of Economics, New York University, and Senior Fellow, Hoover Institution at Stanford University

  • 2010: Jean Tirole, Chairman of the Foundation Jean-Jacques Laffont/Toulouse School of Economics, and Scientific Director of the Institute for Industrial Economics, University of Toulouse Capitole, and 2014 winner of the Nobel Prize in economic sciences

  • 2009: Sanford J. Grossman, Chairman & CEO, QFS Asset Management, Inc.

  • 2008: Lars Peter Hansen, David Rockefeller Distinguished Service Professor in Economics, Statistics and the College, University of Chicago, and 2013 winner of the Nobel Prize in economic sciences

  • 2007: David M. Kreps, Adams Distinguished Professor of Management, Stanford Graduate School of Business

  • 2006: Stephen A. Ross, Franco Modigliani Professor of Financial Economics, MIT Sloan School of Management


The CME-MSRI Prize medal was designed by San Francisco Bay Area artist Marika Somogyi. The unique double-sided bas-relief medallion is symbolic of the industry-academe partnership of the CME-MSRI Prize: mathematical formulae link one side that represents the excitement of the CME trading floor with the other face, which displays a mathematician’s lecture at the chalkboard in MSRI’s Simons Auditorium. 

cme medal