Press Releases

Volatility Institute Launches at NYU Shanghai

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NYU Shanghai is celebrating the launch of the Volatility Institute at NYU Shanghai. The Volatility Institute at NYU Shanghai, located at the NYU Shanghai Pudong Academic Building in the heart of Liujiazui, Shanghai’s financial center, aims to create opportunities for research focused on both the Chinese financial markets and markets around the world.  It also seeks to facilitate collaboration and community-building among market participants and academic researchers within China and abroad, and to help improve global financial markets by providing timely financial information and analysis to academics, practitioners, regulators and policy makers through innovative technology platforms and services.
 
The Volatility Institute at NYU Shanghai  will operate in close partnership with and as an extension of the  Volatility Institute at New York University Stern School of Business, under the direction of Nobel Laureate and volatility expert Robert Engle, and with generous support from the Pudong Institute of Finance and NYU Shanghai. The Volatility Institute, created by Professor Robert Engle at New York University Stern School of Business in March 2009, has the over-arching mission to develop and disseminate cutting-edge research on risks in global financial markets and in financial econometrics that will ultimately contribute in a meaningful way to international financial policy.
 
One of the research tools of the Volatility Institute is the Volatility Lab (V-Lab), which provides real-time measurement, modeling and forecasting of financial volatility, correlations and risk for a wide spectrum of assets. V-Lab blends together both classic models, including Engle’s award-winning ARCH model, as well as some of the latest advances proposed in the financial econometrics literature. Its aim is to provide real-time evidence on market dynamics for researchers, regulators, and practitioners. The V-Lab currently runs 28900 analyses on 6053 datasets, producing a total of 63766 series each day.
 
Launch Day Highlights
  • Attend the launch of the Volatility Institute at NYU Shanghai (VINS) and participate in the forming of a groundbreaking mission and vision with financial and academic practitioners and institutions in China and beyond. 
  • Lively and enlightening panel discussions featuring China’s top market and academic participants on challenges and opportunities in the Chinese financial markets, particularly the need for strengthening risk monitoring, assessment, and effective mitigation.
  • A keynote presentation by Robert Engle, the Michael Armellino Professor of Finance at New York University Stern School of Business and recipient of the 2003 Nobel Prize in Economics, on the potential contributions of the Volatility Institute, including innovative tools that add depth to the study of risk in financial institutions and assets.
  • An opportunity for participants to gain unique insights into the future of the Chinese financial markets.
About NYU Shanghai
NYU Shanghai is a comprehensive research university exemplifying the highest ideals of contemporary higher education by uniting the intellectual resources of New York University’s global network with the multidimensional richness of China. NYU Shanghai guides students toward academic and moral excellence, preparing them for leadership in all walks of life, and contributes to the endless quest for new insights into the human condition and the natural world.

About the NYU Stern Volatility Institute
The Volatility Institute was created at New York University Stern School of Business in 2009 under the direction of Nobel Laureate and volatility expert Professor Robert Engle. The Volatility Institute's mission is to develop and disseminate research on risks in financial markets and closely related topics in financial econometrics. In 2010, the Volatility Institute introduced the Systemic Risk Ranking, a weekly ranking of the risk that the largest financial institutions pose to the global economy. The Institute aims to help shape the world of finance by providing state-of-the-art, up-to-the-minute financial information to academics, practitioners, regulators and policy makers globally. The Institute also provides educational resources for teaching and learning to faculty and students worldwide.

On April 14, 2009, the State Council of the People's Republic of China proclaimed a national policy called "Opinions on Advancing the Development of Shanghai's Modern Service Industries and Advanced Manufacturing Industries at a Faster Speed; and, Building the International Financial Center and International Shipping Center". This policy clearly set out measures and steps toward turning Shanghai into an international financial center. To implement “The Opinion”, the Pudong New Area Government began actively exploring possibilities for organizational innovation in financial support. In order to take part in the deployment of key financial projects issued by the Shanghai Municipal Government in 2009, as well as to take advantage of the industrial and international resources in Pudong, the Pudong New Area government has established PIF, which is supervised by Financial Services Bureau Shanghai Pudong New Area.