Professor Bong-Gyu Jang of the Financial Investment and Risk Management Lab, with Ji Hee Yoon of KIS Pricing, won the best paper award in the second KRX Derivative Thesis Competition, held on May. 3 at Lotte Hotel Busan. The competition was held in celebration of the 15th anniversary of the Korea Exchange (KRX) with Professor Chang-hyun Yun of the University of Seoul as the head judge.

Prof. Jang’s research paper was entitled ‘Analytic valuation formulas for range notes and an affine term structure model with jump risks.’ The thesis induces the theoretical prices of range notes or structured notes. Prof. Yoon evaluated the paper as both highly creative and referable in practice.