New York, NY, July 24, 2019

The International Association for Quantitative Finance is pleased to announce the winners of the Eighth Annual Academic Affiliate Membership Student Competition.

Forty-eight teams representing twenty academic programs submitted papers in response to this year's competition problem which focused on credit spreads. The entire competition problem can be viewed here:

The competition submissions went through a blind, multi-level selection process and were reviewed by a judging panel comprised of IAQF Board Members. Five teams were selected as winners. Each of the winning teams will be invited to present their solutions at an IAQF-sponsored event in New York.

The winners of the competition, in alphabetical order by academic program, are as follows:

Team Working Our Assets Off from Carnegie Mellon University, Masters in Computational Finance Program. The team was led by student team captain Xuan Hao (Jason) Huang. Team members included Katie Li, Jeff Yang and Xuewei (Sherry) Yu. The team worked under the direction of Rick Bryant, Executive Director MSCF Program.

Team Quantifier from Carnegie Mellon University, Masters in Computational Finance Program. The team was led by student team captain Junpu Zhao. Team members included Xi Chen, Yanji Liu, Haoran Qin, Xiaoyang Xu, and Yi Xu. The team worked under the direction of Rick Bryant, Executive Director MSCF Program.

Team Under Canvas from Johns Hopkins University, Applied Mathematics & Statistics Graduate Program. The team was led by student team captain Xiaoya Zhang. Team members included Enfeng Chen, Zexi Ding, Qishun Huang, Ruikang Liang and Boyang Li. The team worked under the direction of Daniel Q. Naiman, Department Director of Graduate Studies.

Team WH101 from Johns Hopkins University, Applied Mathematics & Statistics Graduate Program. The team was led by student team captain Yu Shao. Team members included Jiawen Bai, Yingze Hou, Qihao Pan, and Xiaan Zhou. The team worked under the direction of Daniel Q. Naiman, Department Director of Graduate Studies.

Team Submartingale from University of Michigan, Masters in Quantitative Finance and Risk Management. The team was led by student team captain Rick (Yuankang) Xiong. Team members included Hui Cai, Israel Diego-Guerra, Yifei Lu, Xinye Xu, and Yuan Yin. The team worked under the direction of Peter Benson, Career Services, MS Mathematics Program.