Iona College Celebrates Completion of Construction for State-of-the-Art, "Real Time" Trading Floor

NEW ROCHELLE, N.Y., Oct. 28, 2011 /PRNewswire/ -- Iona College celebrated the completion of the new state-of-the-art, Hagan School of Business "real-time" trading floor during a ribbon-cutting held October 27 at Hagan Hall on campus. Iona is the only college in Westchester to offer a trading floor capability to students.

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The trading floor is the centerpiece in Iona's planned Center for Financial Market Studies that the school is creating in phases which will allow new concentrations and certificates for Hagan's graduate programs. Use of the trading floor will also be incorporated into undergraduate courses.

The LaPenta-Lynch Trading Floor is named for two Iona graduates who have been long-time benefactors of Iona and are members of the College's Board of Legal Trustees. They are Robert V. LaPenta, class of 1967, and Patrick J. Lynch, of the class of 1959, who together contributed $1 million to finance construction of the 860-square-foot trading floor. In addition to their gifts, Stephen Dowicz, class of 1979, and the NASDAQ OMX Group Educational Foundation have contributed an additional $750,000 in funding for the creation of the Center of Financial Market Studies. The Center will help prepare students for careers in corporate finance and the financial services industry.

The new facility, on the main floor of the Hagan School, will enable students to learn first-hand how to use the same technology and analytic tools used on Wall Street and in the global market place.  With access to "real time" stock market quotations and the latest market news and announcements, they will be able to build and track investment portfolios as if they were on an actual trading floor or in a corporate finance office.

The trading floor offers a fully-equipped, simulated trading environment featuring 20 high-end networked trading desks, continuous live data feeds from Bloomberg, "real-time" market quotes and computerized trading models. It is overseen by a director and a full-time technician and staffed by students who assist faculty members and other students.

Dr. Vincent Calluzzo, dean of the Hagan School of Business, said:  "This exciting expansion further advances the Hagan School's reputation as one of the region's premiere MBA programs and elevates Iona College's standing."  

Mr. LaPenta has more than 40 years of executive management experience and has generated billions of dollars of shareholder wealth throughout his professional career. He is chairman, CEO and founding partner of Aston Capital, LLC, a newly formed private investment company specializing in secure military communication companies and companies with green technology.

Mr. Lynch is a private investor and formerly senior vice president and CFO of Texaco Inc. He has been a member of the Board of Trustees of the American Petroleum Institute, the Conference Board of Financial Executives and the CFO Advisory Council.  He also served as a director of Aquila, Inc. and North American Galvanizing & Coatings, Inc. Mr. Lynch is a member of the North American Advisory Board of the UCD Michael Smurfit Graduate Business School.

Dean Calluzzo noted:  "We are grateful for the generosity of Messrs. LaPenta and Lynch who helped make our vision for the trading floor a reality. The practical hands-on experience of these advanced technologies, combined with the expansion of majors in our MBA program, will no doubt help develop the next generation of leaders in the corporate and financial services sectors."

Founded in 1940, Iona College is a four-year private, co-educational institution of learning in the tradition of the Edmund Rice Christian Brothers and American Catholic higher education. It is a diverse community of learners and scholars dedicated to academic excellence and the values of justice, peace and service. Iona offers undergraduate degrees in liberal arts, science, and business administration, as well as Master of Arts, Master of Science and Master of Business Administration degrees and numerous advanced certificate programs.

SOURCE Iona College