As the global financial industry continues to rapidly evolve, one of the world's largest options and futures exchanges is turning to central Illinois student to help manage the pace of innovation.
Chicago-based CME Group, "the world’s most diverse financial marketplace," is set to open a new innovation center this Friday at the Research Park on the University of Illinois at Urbana-Champaign campus.
According to a release, CME Group will use the facility to employ University of Illinois engineering and computer science students "to work on groundbreaking, hands-on projects related to financial technology and mathematical innovation, such as blockchain, big data analytics, distributed ledger technologies and machine learning."
CME Group said that it will employ 10 student interns by the end of 2016.
UIUC's Research Park is home to nearly 100 companies, including Yahoo, Caterpillar, and Capital One, and employs over 1,600 people. This summer, the Park also announced a proposed apartment and retail complex as it aims to transition from a traditional office-only tech park into an "innovation district."
CME Group is not the first Chicago pillar to open an innovation-focused facility at the Park. In 2015, Caterpillar opened a new data analytics lab, its second building at UIUC. The Peoria-based maker of manufacturing equipment also has a Simulation Center on campus which houses 55 employees and 60 students.
The official ribbon-cutting of the new CME center at Research Park takes place on Friday, Sept. 9.
(Image via Wiki Commons)
