College of Business > About > Centers & Institutes > Arditti Center for Risk Management > About
Dr. Arditti's work embodied a passion for innovative thinking and practical benefit to commerce and markets. He was passionate about bridging the gap between academia and the industry, about educating students who can "do things," and producing rigorous, innovative research that is first and foremost practical.
The Department of Finance at DePaul University established The Arditti Center for Risk Management to honor his lifetime achievements and to continue this important work in the areas of education, research and practice.
A native of Brooklyn, N.Y., Fred Arditti studied at the Massachusetts Institute of Technology, earning an undergraduate degree in electrical engineering and a doctorate in economics. After a career in academia at the University of California at Berkeley and the University of Florida, Dr. Arditti entered the financial industry, ultimately joining the Chicago Mercantile Exchange as its chief economist in 1980. He held that position until 1982, pioneering futures contracts that helped transform how businesses and individuals manage risk. Most notable was Dr. Arditti's work with the exchange's Eurodollar Contract, the world's most actively traded futures contract. Dr. Arditti joined DePaul's faculty in 1990.
In 1997, he returned to the Chicago Mercantile Exchange. As senior executive vice president of planning and development, he was instrumental in organizing CME's business development structure to strengthen its focus on innovation as it faced intensive competition in the new century from domestic and international markets. It was during this time that he originated weather futures and led CME's electronic trading business, which now accounts for about 75 percent of the exchange's trade. Alongside his academic and industry activities, Dr. Arditti published widely in various academic journals. Most notably, he authored "Derivatives," which has become one of the most assigned books on that subject at many universities.