|By PR Newswire||
|February 28, 2013 03:50 PM EST||
TORONTO, Feb. 28, 2013 /PRNewswire-USNewswire/ -- A team of students from Universite Laval (Quebec City) won the tenth annual Rotman International Trading Competition (RITC) hosted by the Rotman School of Management at the University of Toronto. A team from Chulalongkorn University (Thailand) placed second, while students from the University of Toronto and Baruch College (City University of New York) tied for third place. The BI Norwegian Business School was fifth and LUISS Guido Carli University of Rome placed sixth overall.
More than 240 student traders, 29 faculty advisors and 30 sponsor representatives participated in the event which was held at the Rotman School's Financial Research and Trading Lab from February 21 to 23. The students represented forty-eight universities from Asia, Europe, United States and Canada.
The competition featured six distinct trading cases focusing on a diverse range of securities and markets, including equity shares, options, crude oil physical products and futures contracts, index futures contracts and even high frequency trading implemented by computer algorithms written by the students. Over the three day event, teams were able to demonstrate their ability to understand and successfully execute trading, analyst and risk management strategies on a consistent basis. Teams were scored over many different iterations of each case, and the final score was comprised of their rankings across all of the cases.
The first place team was comprised of students, Dave Doyon, Jean-Francois Boilard, Pierre-Luc Nadeau, Olivier Tardif-Loiselle, Guillaume Sevigny, Francois Bettez; the team's faculty advisor was Marc-Andre Picard; the second place team included Varorith Chirachon, Luttawit Punjanutbonkot, Pasan Tosiriphatana, Phattradanai Samurwong; their advisor was Suparatana Tanthanongsakkun.
Tied for third place were teams from Baruch College and University of Toronto. Baruch College was comprised of 6 students, Kenneth Chan, Juan Alonso, Shixiang Zhang, Yi Zhang, Andrew Chang and 2 faculty advisors, Eugene Krel and Yike Lu. The University of Toronto team was advised by Richard Gao with students from 3 different programs including: Yiming Chen (Master of Mathematical Finance), Jonathan Dwek (Rotman Master of Finance), Stefan Markovic (Rotman Commerce) and Christopher Xie (Rotman Master of Finance).
In the competition's commodities case, sponsored by BP Canada Energy Company, the top teams were the University of Toronto, LUISS University (Rome) and Universite Laval. Students took on the roles of producer, refiner and traders to transact crude oil and refine it to heating oil and gasoline. Besides arbitraging across product type, they had to react to news-releases such as storage outages and hedge their risks in futures markets.
The Sales and Trader results were led by the University of Chicago, Chulalongkorn University (Thailand) and Baruch College (CUNY). The sales and trader case was designed to test the competitors ability to transact liability trades and unwind large blocks of shares into a marketplace while judging market impact and other measures of liquidity risk. Traders had multiple marketplaces to transact their shares with different liquidity and cost structures.
The Thomson-Reuters Mergers and Acquisitions case tested competitors' ability to track various 'in-play' M&A deals and devise risk-taking strategies to generate profits. Success in this case depended on teams' skill at assessing potential targets and probabilities of successful M&A deals. The top schools in this case were Chulalongkorn University, Universite Laval, with University of Toronto and University of Calgary tied for third.
The Algorithmic case, sponsored by CIBC, was won by the Chulalongkorn University, followed by LUISS University and Baruch College. This case required traders to build and execute an algorithm capable of balancing price and liquidity risk, while profiting from the bid-ask spread.
The Quantitative Outcry case, involved trading index futures in response to government macro-economic data releases. This outcry event is truly unique in the competition due to the fact that traders commit their transactions directly with each other through an "outcry pit" designed to be similar to those at various exchanges. The case also featured marks for accuracy of analysts' reports in response to news and for risk management performance. The top teams in this event were Baruch College (New York) and Babson College (Boston).
Finally, the Options trading case required students to use option valuation models to forecast the future volatility of an underlying stock, trading options to benefit from mispricing across strike prices. In this case, the top place was achieved by the University of Waterloo with Universite Laval and Baruch College tied for second.
Competition director, Marco Salerno, who is also manager of the lab at the Rotman School, pointed out that "students are challenged to compete against each other and they work hard to bring their universities as high as possible in the ranking". Rotman Prof. Tom McCurdy, who is the founding Director of the Lab, reports that the "cases were designed to facilitate learning about effective strategies that work for a range of scenarios we could face in an uncertain world. The students' competitive spirit and skilled responses to our case challenges was a joy to experience".
BP Canada Energy Company sponsored the BP Commodities Trading Case, CIBC World Markets sponsored the CIBC Algorithmic Trading Case, and Thomson-Reuters sponsored the Mergers & Acquisitions case. Additional financial support for the competition was also provided by S&P Capital IQ.
The Rotman School's Financial Research and Trading Lab is a fully equipped computer lab designed to promote experiential learning in the area of financial markets and data. The competition cases are implemented over the highly acclaimed Rotman Interactive Trader application, a market simulation tool being used in over 40 universities and money management firms around the world. Further information on the lab is available at www.rotman.utoronto.ca/finance/lab.
The Rotman School of Management at the University of Toronto is redesigning business education for the 21st century with a curriculum based on Integrative Thinking. Located in the world's most diverse city, the Rotman School fosters a new way to think that enables the design of creative business solutions. The School is currently raising $200 million to ensure Canada has the world-class business school it deserves. For more information, visit www.rotman.utoronto.ca.
Follow Rotman on Twitter @rotmanschool
Watch Rotman on YouTube www.youtube.com/rotmanschool
SOURCE Rotman School of Management, University of Toronto
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion is moderated by me, Dana Gardner, Principal Analyst at Interarbor Solutions.
Nov. 26, 2015 03:45 AM EST Reads: 683
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Nov. 26, 2015 03:00 AM EST Reads: 299
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now all corporate assets – people, objects, and spaces – can share information about themselves and thei...
Nov. 26, 2015 02:00 AM EST Reads: 180
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound effect on the world, and what should we expect to see over the next couple of years.
Nov. 26, 2015 01:30 AM EST Reads: 429
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, wil...
Nov. 26, 2015 12:00 AM EST Reads: 521
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNub’s Data Stream Network.
Nov. 26, 2015 12:00 AM EST Reads: 278
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true change and transformation possible.
Nov. 26, 2015 12:00 AM EST Reads: 482
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" in this scenario: microservice A (releases daily) depends on a couple of additions to backend B (re...
Nov. 25, 2015 10:00 PM EST Reads: 391
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Nov. 25, 2015 09:00 PM EST Reads: 365
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user experience, both offline and online. The focus of this talk was on IBM Cloudant, Apache CouchDB, and ...
Nov. 25, 2015 08:30 PM EST Reads: 366
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at Built.io, examined how Docker has evolved into a highly effective tool for application delivery by allowing increasingly popular Mobile Backend-as-a-Service (mBaaS) platforms to quickly crea...
Nov. 25, 2015 05:00 PM EST Reads: 302
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound cha...
Nov. 25, 2015 02:45 PM EST Reads: 494
Internet of @ThingsExpo, taking place June 7-9, 2016 at Javits Center, New York City and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
Nov. 25, 2015 02:30 PM EST Reads: 507
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Yet a closer inspection at the data reveals less than half of these cloud projects involve production...
Nov. 25, 2015 02:15 PM EST Reads: 424
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical to maintaining positive ROI. Raxak Protect is an automated security compliance SaaS platform and ma...
Nov. 25, 2015 02:00 PM EST Reads: 355
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Nov. 25, 2015 01:30 PM EST Reads: 467
There are over 120 breakout sessions in all, with Keynotes, General Sessions, and Power Panels adding to three days of incredibly rich presentations and content. Join @ThingsExpo conference chair Roger Strukhoff (@IoT2040), June 7-9, 2016 in New York City, for three days of intense 'Internet of Things' discussion and focus, including Big Data's indespensable role in IoT, Smart Grids and Industrial Internet of Things, Wearables and Consumer IoT, as well as (new) IoT's use in Vertical Markets.
Nov. 25, 2015 12:00 PM EST Reads: 520
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context with p...
Nov. 25, 2015 12:00 PM EST Reads: 365
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data shows "less than 10 percent of IoT developers are making enough to support a reasonably sized team....
Nov. 25, 2015 10:00 AM EST Reads: 430
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 25, 2015 09:45 AM EST Reads: 116