CME Group Foundation has given a $1M grant to the Cambridge Centre for Alternative Finance (CCAF) of the University of Cambridge to support their studies on alternative financing, such as P2P lending and crowdfunding. The Foundation was created by the CME Trust with a mission to assist different education campaigns intended for the prosperity of the economy worldwide. The grant is, by far, the biggest amount that the CME has given internationally.
According to CCAF Executive Director Robert Wardrop, they are very grateful for the CME Group Foundation’s encouragement. He further added that the grant symbolizes a first class support of the significance of their mission which is to educate policymakers, business and the public sector on the important developments in finance. The grant also represents the opportunities and challenges that financial institutions are facing around the globe.
The 2015 European Alternative Finance Benchmarking Report shows that in 2014 the alternative finance sector in Europe increased by 144%. It was €1.211 million in 2013, and rose to €2.957 million by 2014.
The $1 million grant will assist the studies by CCAF on the growth of alternative financing in five sectors around the globe. Also, there will be a yearly conference on alternative finance. The conferences will be organized by the centre, and will serve as a venue where discussions will be held on other alternative finance research projects, as well as on the progress of current researches.