# Professor Menachem Brenner's creation of the volatility index is spotlighted

1 Faculty News February 9, 2018 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025699.jpg?itok=5SpaxEbn)>

Excerpt from the [Financial Times](http://https://www.ft.com/content/360c60ca-0d6e-11e8-839d-41ca06376bf2) -- "In the late 1980s, a couple of finance academics, [Menachem Brenner](http://www.stern.nyu.edu/faculty/bio/menachem-brenner) and Dan Galai, introduced the idea of an index that would effectively measure market expectations of how much the stock market might or might not wiggle around — and allow people to hedge against that change."

[Read more](http://https://www.ft.com/content/360c60ca-0d6e-11e8-839d-41ca06376bf2)