Click here to close now.

Welcome!

Agile Computing Authors: Pat Romanski, Carmen Gonzalez, Wayne Lam, Liz McMillan, Jnan Dash

News Feed Item

Universite Laval Wins 10th Annual Rotman International Trading Competition

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

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Among the proven benefits, DevOps is corr...
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and high availability solutions, leveraging the cloud and the benefits of Infrastructure-as-a-Service (IaaS...
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare to be blown away with a glimpse of the future.
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the cloud and the best price/performance value available. ProfitBricks was named one of the coolest Clo...
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
The basic integration architecture, as defined by ESBs, hasn’t changed for more than a decade. Most cloud integration providers still rely on an ESB architecture and their proprietary connectors. As a result, enterprise integration projects suffer from constraints of availability and reliability of these connectors that are not re-usable across other integration vendors. However, the rapid adoption of APIs and almost ubiquitous availability of APIs amongst most SaaS and Cloud applications are rapidly redefining traditional integration approaches and their reliance on proprietary connectors. ...
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.
"We have a tagline - "Power in the API Economy." What that means is everything that is built in applications and connected applications is done through APIs," explained Roberto Medrano, Executive Vice President at Akana, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
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, will explore the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context wi...
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you'll have no problem fillin...
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at the same time reduce Time to Market (TTM) by using plug and play capabilities offered by a robust IoT ...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
SYS-CON Events announced today that BMC 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. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust IT industrialization – allowing customers to provide amazing user experiences with optimized IT per...
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.