Stevens Institute of Technology Opens Financial Systems Center
Hanlon Financial Systems Lab Recreates Trading Floor Environment to Support Integrated Research and Education in Financial Systems, Quantitative Finance, Software Engineering and Cyber Security
Hoboken, N.J. – Leaders in the Financial Engineering field, as well as Lieutenant Governor Kim Guadagno (R-NJ), joined officials at Stevens Institute of Technology to open the Hanlon Financial Systems Lab, a state-of-the-art financial teaching and research facility that will serve as a classroom and laboratory to graduate and undergraduate students in the Financial Systems Center at Stevens. The lab comes courtesy of a gift from Stevens alumnus and Board of Trustees member John “Sean” J. Hanlon IV, CFP® ’80 (B.E. Mechanical Engineering).
“Today Stevens continues its leadership role in formulating a systems perspective for the study of the global financial system, a sector undergoing constant changes with the innate ability to disrupt the global economy,” said Dr. Nariman Farvardin, President of Stevens. “The lab’s cross-disciplinary focus across financial systems, software engineering and cyber security, and its location in the heart of the world’s financial center has positioned Stevens to impact this growing and vital field.”
“The speed of change in financial systems due to technological innovation compels institutions of higher learning to remain ahead of the curve in order to produce impactful research and properly educate students within the current tools that employers demand,” said Hanlon. “Stevens has built a strong reputation in the financial services community through the research we have done and the graduates that have entered the workforce. This facility gives Stevens the resources to remain at the forefront of the industry.”
The Hanlon Financial Systems Lab, as the teaching and research facility will be known, will mirror what students will find at any investment bank, hedge fund, financial institution or asset management firm. The lab will integrate the latest hardware and software technologies to support innovative research into the most common and urgent problems in contemporary finance including systemic risk, enterprise-level risk management, software development and cyber security.
The Hanlon Financial Systems Lab is designed to support academic programs within the Financial Systems Center at Stevens, which include a graduate program in Financial Engineering, offering Masters and PhD degrees, and an undergraduate program in Quantitative Finance, the only one of its kind in the Northeast. The lab features equipment typically found in a trading room including Bloomberg terminals, trading desks, Smartboards and several high definition screens.
Hanlon, who founded Hanlon Investment Management in 1999, will serve as the Chairman of the Advisory Board for the Financial Systems Center. Dinesh Verma, Dean of the School of Systems & Enterprises, and Professors Khaldoun Khashanah and George Calhoun join Hanlon in leading the undergraduate and graduate programs associated with the Financial Systems Center.
ICAP and RealTick are strategic partners of the Stevens Financial Systems Center. Additional support, data and software for the FSC will be provided by the likes of Bloomberg, Thomson Reuters, Jefferies, Gain Capital, Tripwire, Decide-FS, Redseal and Fortify.
Preceding the opening of the lab, Dr. Robert Engle, Professor of Finance at NYU and winner of the 2003 Nobel Prize in Economics; Dr. Andrei Kirilenko, Chief Economist of the Commodity Futures Trading Commission; and Dr. Lou Crandall, Chief Economist of Wrightson ICAP participated in an academic colloquium titled: “The New Complexity – A Systems Perspective on Finance.” Following that, was a luncheon with keynote speaker, Richard Brueckner, Chief of Staff, BNY Mellon.
About Stevens Institute of Technology
Founded in 1870, Stevens Institute of Technology, The Innovation University™, lives at the intersection of industry, academics and research. The University's students, faculty and partners leverage their collective real-world experience and culture of innovation, research and entrepreneurship to confront global challenges in engineering, science, systems and technology management.
Based in Hoboken, N.J. and with a location in Washington, D.C., Stevens offers baccalaureate, master’s, certificates and doctoral degrees in engineering, the sciences and management, in addition to baccalaureate degrees in business and liberal arts. Stevens has been recognized by both the US Department of Defense and the Department of Homeland Security as a National Center of Excellence in the areas of systems engineering and port security research. The University has a total enrollment of more than 2,400 undergraduate and 3,700 graduate students with more than 450 faculty. Stevens’ graduate programs have attracted international participation from China, India, Southeast Asia, Europe and Latin America as well as strategic partnerships with industry leaders, governments and other universities around the world. Additional information may be obtained at www.stevens.edu and www.stevens.edu/news.