CME Group Awards Sal Khan, Founder of Khan Academy, the 2013 Melamed-Arditti Innovation Award

 CME Group Awards Sal Khan, Founder of Khan Academy, the 2013 Melamed-Arditti
                               Innovation Award

PR Newswire

CHICAGO, Sept. 10, 2013

CHICAGO, Sept. 10, 2013 /PRNewswire/ -- CME Group's Center for Innovation
today announced that Sal Khan is the 2013 CME Group Melamed-Arditti Innovation
Award recipient. Khan is the founder of the Khan Academy, a free online
education platform and not-for-profit organization. CME Group will present
the award at the sixth annual Global Financial Leadership Conference in
Naples, Florida on Tuesday, November 19.

Khan, a former hedge fund manager, began distributing his tutorials on YouTube
in 2006. In 2009, the Khan Academy received the Microsoft Tech Award for
education and in 2010, Google provided $2 million to support the creation of
more courses and enable the Khan Academy to translate its core library into
the world's most widely spoken languages. Khan Academy has now produced more
than 4,300 videos on a wide variety of subjects, mainly focusing on math and
science, which have garnered more than 300 million views.

"Sal Khan's achievement of providing free, world-class education for anyone,
anywhere is a groundbreaking innovation which has had a transformative impact
on the world," said Leo Melamed, CME Group Chairman Emeritus and Competitive
Markets Advisory Council Vice Chairman.

"I consider this award a real honor," said Khan. "Many of the leaders of this
organization are people I read about and looked up to during my own

Chosen annually by the members of the Competitive Markets Advisory Council
(CMAC), the CME Group Melamed-Arditti Innovation Award, formerly known as the
Fred Arditti Innovation Award, is named after the company's chairman emeritus,
Leo Melamed, in recognition of his revolutionary achievements in introducing
financial futures instruments to the world in 1972; and former Chief Economist
Fred Arditti who was instrumental in developing the index upon which CME
Group's Eurodollar futures contract, the world's most actively traded futures
contract, was based.

The award honors an individual or group whose innovative ideas, products or
services have created significant change to markets, commerce or trade. The
award strives to celebrate innovation that through practical application has
had a positive impact on the economic well-being of individuals, industry or a

Past recipients of the award are:

  o2012—Jimmy Wales, co-founder and promoter of the online non-profit
    encyclopedia Wikipedia and the for-profit Wikia web-hosting company
  o2011—Myron S. Scholes, chairman of the Board of Economic Advisors of
    Stamos Partners and Robert C. Merton, School of Management Distinguished
    Professor of Finance at the MIT Sloan School of Management
  o2010—David Ferrucci, IBM Senior Manager
  o2009—Harry Markowitz, Nobel-prize winning economist
  o2008—Michael Bloomberg, founder of Bloomberg LP and Mayor of the City of
    New York
  o2007—Eugene Fama, distinguished Service Professor of Finance at the
    University of Chicago Graduate School of Business
  o2006—Leo Melamed, founder of financial futures and CME Group chairman
  o2005—William F. Sharpe, Nobel-prize winning economist

To read more about Khan, and follow coverage of the Melamed-Arditti award
presentation, visit CME Group's online magazine and blog, OpenMarkets, at

About the Center for Innovation
CME Group, the world's leading and most diverse derivatives exchange,
established the CME Group Center for Innovation in 2003 to identify, foster
and showcase examples of significant innovation and creative thinking
pertaining to markets, commerce and financial services in the public and
private sectors. Each of CFI's programs aims to explore and communicate the
principals behind innovation and more importantly, showcase their application
to a broad and diverse audience.

Oversight of CFI is provided by the CMAC, which includes: CMAC Chairman, John
P. Gould, Steven G. Rothmeier Distinguished Service Professor of Economics,
University of Chicago Booth School of Business ; Gary S. Becker, Nobel
Prize-Winning Economist, Professor of Economics and Sociology, University of
Chicago; David D. Hale, International Economist and Founder, Hale Global
Advisors, LLC; Andrew Lo, Charles E. and Susan T. Harris Professor of Finance
and Director of the Laboratory for Financial Engineering, MIT; Robert C.
Merton, Nobel Prize-Winning Economist and School of Management Distinguished
Professor of Finance, MIT; Michael H. Moskow, Vice Chairman and Senior Fellow
for the Global Economy, Chicago Council on Global Affairs and former
President, Federal Reserve Bank of Chicago; Robert J. Shiller, Sterling
Professor of Economics, Yale University

Additionally, the following CME Group senior officials serve as members of
CMAC: Leo Melamed, CME Group Chairman Emeritus and CMAC Vice Chairman; Terry
Duffy, CME Group Executive Chairman and President; Phupinder Gill, CME Group
CEO; Jack Sandner, Retired Chairman.

For more information on the CME Group Center for Innovation, please visit

About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group
( is where the world comes to manage risk. CME Group
exchanges offer the widest range of global benchmark products across all major
asset classes, including futures and options based on interest rates, equity
indexes, foreign exchange, energy, agricultural commodities, metals, weather
and real estate.CME Group brings buyers and sellers together through its CME
Globex^® electronic trading platform and its trading facilities in New York
and Chicago. CME Group also operates CME Clearing, one of the world's leading
central counterparty clearing providers, which offers clearing and settlement
services across asset classes for exchange-traded contracts and
over-the-counter derivatives transactions. These products and services ensure
that businesses everywhere can substantially mitigate counterparty credit

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