CHICAGO -- The Illinois Institute of Technology Tuesday announced it will offer the first master of science degree in financial markets and trading.
IIT's Stuart School of Business will inaugurate the program in November in response to needs expressed by brokerage firms, trading companies and financial institutions in Chicago,' said John A. Wing, chairman of the program's advisory board and chairman and CEO of The Chicago Corp.
It is the world's first degree program to study modern capital markets, IIT said.
'This is a program that deals with the nuts and bolts of how the markets work,' Wing said. 'We want to give students a global view of the complex environment that portfolio managers, chief financial officers, pit traders and arbitrageurs all share.
'It has been designed in close cooperation with the Chicago financial community and firms in the Loop that deal in the financial markets every day.'
Wing said the global expansion of the markets in the past decade and development of new products produced the demand for the program, which will address both traditional markets as well as new futures and options, swaps and forwards.
IIT said it expects to pick up students from all sectors of the financial community.
M. Zia Hassan, dean of the business school, said an undergraduate program also is under development.
The graduate degree will require completion of 14 courses. Class times will be arranged to accommodate trading hours and work schedules.