In a medium size bowl, soak the farro in 4 cups of hot water. Soak for 30 minutes and drain.
Heat the stock in a medium saucepan and keep warm over low heat.
In a large saucepan or enamel dutch oven, heat the olive oil and butter over medium heat until the butter begins to froth. Add the shallots and season with half of the salt and half of the pepper. Cook until they begin to soften, but don’t brown. Add the drained farro and stir constantly for 3 minutes until all of the farro is toasted and coated in the olive oil, shallot mixture. Add the wine and stir until evaporated, about 3 minutes. Then, add the stock, ½ cup at a time until the farro is creamy and cooked through, about 30 minutes. Turn off the heat and stir in the cheese, arugula, parsley and chives.