History of Center for Risk Management
The Quinlan School of Business has had a long interest in futures and options markets. In 1977, the Quinlan School of Business created The Institute of Futures Trading to serve the needs of professionals and students aspiring to enter the futures market in Chicago, which was the world center of futures trading. During the inaugural celebration of the establishment of the Institute, Dr. Mark Powers, Vice President of the Chicago Mercantile Exchange, said, “It is fitting that the first academic commodity futures trading institute should be located in Chicago, the futures capital of the world.” In its heyday five vocational mini-courses a year were offered with an enrollment of as many as 60 students. In addition, four academic semester courses were offered for Loyola students who were able to take advantage of the opportunity to apply for internships in the commodity futures industry. Ultimately, some of our students have had successful careers in the futures industry.
From 1977 to today, the Quinlan School of Business has offered a course in Futures Markets with over 1,000 undergraduate business majors having enrolled in this course. As the futures industry expanded and options markets were created, the Quinlan School of Business added undergraduate courses in options also. In 1985, futures courses were added to the Quinlan School of Business, and beginning in 1989, graduate business students had several elective courses in derivatives markets to choose from and could specialize in this area.
A major step forward took place in 2007 when the Quinlan School of Business, with a generous gift from the CME Group Foundation, established the Center for Risk Management.