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Scholarships will be awarded on an annual basis to master’s and PhD students at HEC Montréal as well as Concordia University, Université Laval, McGill University, Université du Québec à Montréal and Université de Sherbrooke, to help fund theses, supervised projects and dissertations related to derivatives, strategic instruments that can be used to manage risk, improve performance and maintain market stability.
This donation will also go to supporting the Canadian Derivatives Institute, with which HEC Montréal has partnered to present the CDI annual conference aimed at promoting and disseminating research advances in this field.
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“On behalf of the Institute, I would like to express my heartfelt gratitude to the Montréal Exchange for this generous donation.
Not only will it grant scholarships to deserving students, but it will also directly contribute to the long-term success of our annual conference, a much-anticipated event for the derivates community for the past 14 years. These funds will strengthen our capacity to back and raise the profile of rigorous scientific research.”
Turning out a new generation of specialists in responsible finance is also a top priority for Karen McMeekin, President of the Montréal Exchange Regulatory Division:
“The Montréal Exchange is committed to reinvesting the funds received through disciplinary fines in investor protection and financial literacy.
By supporting the Canadian Derivatives Institute, we are actively working to build the smart, conscientious and ethical leaders of tomorrow. It is our hope that this donation will have a lasting and meaningful legacy within Quebec academic circles and the financial industry by helping empower professionals to engage with more responsible markets.”
“This remarkable donation is a wonderful example of the kind of synergy that can emerge when academic players, financial stakeholders and regulatory authorities join forces,” said Michel Patry, President and Chief Executive Officer of the HEC Montréal Foundation.
“By supporting derivatives training and research, we will be doing our part to develop world-leading expertise right here in Quebec.”
In collaboration with the Quebec government and HEC Montréal, the Canadian Derivatives Institute provides training on the various aspects of carbon markets and emissions trading, including derivatives, to emitters subject to the cap-and-trade system for greenhouse gas emission allowances and other stakeholders.
The Montréal Exchange is recognized by the Autorité des marchés financiers as an exchange and a self-regulatory organization. The Regulatory Division is an independent unit mandated to enforce the MX’s rules and procedures. The Division monitors markets to detect insider trading and other misconduct. It also reviews derivatives-related transactions to ensure compliance and prevent abusive or manipulative trading practices.
