Robert Whaley is a renowned expert in derivative contract valuation and risk management, and market operation. He has served as a consultant for many major investment houses, security (futures, options, and stock) exchanges, governmental agencies, and accounting and law firms.
Professor Whaley developed the Chicago Board Options Exchange (CBOE) Market Volatility Index (VIX). A key trading and investment index, the VIX underlies the world’s most actively traded volatility futures and option contracts. Professor Whaley also developed the CBOE’s NASDAQ Market Volatility Index (VXN) and the BuyWrite Monthly Index (BXM), and he co-developed the NASDAQ-OMX Alpha Indexes.
Professor Whaley’s current research focuses on volatility products, exchange-traded products, high-frequency trading and market volatility, market microstructure, and relative performance options. He is an award-winning author whose research has been published in leading academic and professional journals. Professor Whaley has written or cowritten multiple books, including Derivatives: Markets, Valuation, and Risk Management.
He formerly served on the board of directors of the Western Finance Association and the American Finance Association. Among his many honors, Professor Whaley has received the William F. Sharpe Lifetime Achievement Award as well as the Joseph W. Sullivan Award for his work on indexing.
At Vanderbilt, Professor Whaley teaches courses to M.B.A. students on derivatives and bond markets as well as investment management. Previously, he served on the faculties of the Fuqua School of Business at Duke University, the University of Chicago Booth School of Business, and the University of Alberta.