Contact CU Independent News Staff Writer Alec Moylan at firstname.lastname@example.org
Remember those E-Trade commercials with the baby sitting at the computer, trying to convince you that trading is easy? In some cases trading may be easy; but generally trade, with complex markets and fluctuating product values, is extremely difficult, especially in international markets.
What happens when a group of students from the University of Colorado decides to enter an international trading competition with close to 200 universities competing? A top-10 finish in the competition, and a cash prize.
CU finished fourth overall in the 13th annual CME Trading Challenge, a month-long electronic trading competition where teams made up of three to five students are put in realistic trading situations using CME Group products. The host of the challenge, CME Group, is an international marketplace that manages up to $1 quadrillion in contracts.
The challenge is not only a way for students to compete, but also a way for them to get hands-on experience in trading. It’s an opportunity for the next generation of finance professionals to learn more about global derivatives markets. Anita Liskey, CME Group’s Managing Director of Corporate Marketing and Communications, acknowledged in a press release that it is important for the students who make up the future of the financial world to get as much experience as they can before they are thrown to the wolves.
“Understanding the significance of our markets in today’s interconnected global economy is more critical than ever, and we’re pleased that so many students from around the world continue to participate.”
The CME Trading Challenge is growing ever year, this year hosted nearly 500 teams made up of more than 1,800 students from 30 different countries.
It is no surprise that the challenge has been a success as it provides students with a way to get experience as well as a way to apply what they have learned in the classroom.
Dr. Roberto Caccia, Faculty Director for the Burridge Center for Finance at the Leeds School of Business, mentioned firsthand how important it is for students to take advantage of this opportunity in the press release.
“As a former Wall Street professional, it’s great to see opportunities like the CME Group Trading Challenge complement what we teach in the classroom. This not only showcases students’ financial skills, but enables them to compete in real-world settings.”
CU’s success in the competition may come to a surprise, as many Ivy League schools also competed. However Dr. Caccia knew how much work was put in and how much finishing in the top 10 means to CU.
“I am very excited that the extra effort we put into the competition this year resulted in a fourth-place win.”