OXFORD — A $3 million gift from Dr. Richard Chaifetz and Jill Barclay Chaifetz through their Chaifetz Foundation will establish the Chaifetz Trading Center at Miami University's new Farmer School of Business building, the university announced Monday.

The Chaifetz Trading Center will "enhance the real-world learning of undergraduate and graduate students by allowing them to participate in simulated financial market activity as an integrated part of their finance curriculum," Miami said in a statement. "Simulated transactions will be based upon real-time electronic feeds from Bloomberg and Reuters on dozens of dual-monitor computer stations. The high-tech, 1,800-square-foot facility will feature a 'pit' surrounded by glass walls for viewing, scrolling stock market tickers and projection screens."

Chaifetz is a member of the Business Advisory Council of the Farmer School of Business and the founder, chairman and chief executive of ComPsych Corp., which bills itself as "the world's largest provider of employee assistance programs, as well as other businesses in the behavioral health, work-life, wellness and outsourced human resources services arena." ComPsych serves more than 25 million people and 10,000 organizations throughout the nation and 92 other countries.

Jill Barclay Chaifetz earned a bachelor's degree in accountancy from Miami. After earning her CPA, she worked for Arthur Andersen and Refco Corp.

The Farmer School's building will be ready for occupancy in summer 2009, the university said.