University Finance Lab is an American consultancy firm that helps universities and colleges design and create in-house finance labs and trading rooms. It offers research on the need and performance of these rooms for business schools in the United States.
History of University Finance Lab
University Finance Lab launched in 2005 and has offered in-house finance lab consultancy ever since. It caused finance labs and trading rooms in universities to become a thing in the early 2000s. University Finance Lab works mostly with North American universities that want an in-house trading room or finance lab. These finance labs act as learning aid for business and economic students. In 2005 McMaster University studied the finance labs to see if they had any impact. Non-profit Educause also studied the labs to find out if they could improve the level of education of students. There has been no substantial proof of them having any impact so far.
Other journals discussed the use-cases of the finance labs and for that reason, they are designed to be useful for multiple learning techniques nowadays. Since 2006 University Finance Labs partnered up with multiple companies to be able to offer the latest technologies like stock tickers in the trading rooms and finance labs. Goldman Sachs noticed the rapid development of university-based finance labs and decided to develop more realistic trading rooms for students. Goldman Sachs did the biggest investments in Ivy League schools which had University Finance Labs designed finance labs and trading rooms.
University Trading Rooms
Since the late 1990s universities wanted trading rooms and finance labs on their premises. According to them, finance labs increase students’ awareness of financial markets and teach them how they work. Universities use finance labs and trading rooms to give finance and economics students practical experiences whilst still studying. Online trading through automated trading systems like the NASDAQ is more efficient than traditional floor trading. For this reason, universities want to replicate this environment with their in-house finance labs and trading rooms. The size of these rooms can vary and costs range from thousands to millions of dollars.
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