|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
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 12:00 PM EST Reads: 1,024
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
Dec. 19, 2014 11:45 AM EST Reads: 413
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
Dec. 19, 2014 11:30 AM EST Reads: 2,268
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 11:00 AM EST Reads: 1,817
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
Dec. 19, 2014 07:00 AM EST Reads: 2,141
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
Dec. 19, 2014 06:30 AM EST Reads: 2,125
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...
Dec. 19, 2014 05:00 AM EST Reads: 1,942
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
Dec. 19, 2014 04:00 AM EST Reads: 1,949
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
Dec. 18, 2014 09:45 PM EST Reads: 959
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 18, 2014 09:00 AM EST Reads: 1,256
Nigeria has the largest economy in Africa, at more than US$500 billion, and ranks 23rd in the world. A recent re-evaluation of Nigeria's true economic size doubled the previous estimate, and brought it well ahead of South Africa, which is a member (unlike Nigeria) of the G20 club for political as well as economic reasons. Nigeria's economy can be said to be quite diverse from one point of view, but heavily dependent on oil and gas at the same time. Oil and natural gas account for about 15% of Nigera's overall economy, but traditionally represent more than 90% of the country's exports and as...
Dec. 18, 2014 06:00 AM EST Reads: 794
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
Dec. 17, 2014 11:15 PM EST Reads: 1,304
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 17, 2014 11:00 PM EST Reads: 1,362
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 17, 2014 08:00 PM EST Reads: 1,335
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
Dec. 17, 2014 06:30 PM EST Reads: 1,240
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
Dec. 17, 2014 11:45 AM EST Reads: 1,462
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Dec. 16, 2014 11:45 PM EST Reads: 1,304
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
Dec. 15, 2014 11:45 PM EST Reads: 1,667
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Dec. 15, 2014 10:30 AM EST Reads: 6,874
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...
Dec. 15, 2014 10:00 AM EST Reads: 1,955