CMU team places second in 14th CME Group Trading Challenge
CME Group, Inc., a financial market company, recently released the names of the winning groups of the 14th annual CME Group Trading Challenge. Carnegie Mellon University’s team placed second, right after Rutgers University, who ended the three year drought of not having an American university team place first in the competition.
The participation in the contest this year had almost 600 teams composed of over 2,300 students coming from 35 countries across the globe. This was the greatest number of participants the competition has ever had. The contest is a four-week electronic trading competition available to teams made up of undergraduate and graduate students. The goal is to provide a chance to gain experience with techniques for trading futures among major asset classes on CQG’s professional trading platform. It is also the intention of the program to educate up and coming financiers.
“We are pleased that a record number of university students from around the world have chosen to participate in our annual Trading Challenge,” CME Group’s Managing Director of Corporate Marketing and Communications Anita Liskey said in a press release. “CME Group is committed to educating the next generation of finance professionals about the significance of derivatives markets in today’s interconnected global economy.”
Many of these groups’ advisors view this event as a way for students to refine their financing skills and attain more exposure to that field.
“I am excited that our team’s participation and commitment resulted in a first place win in this year’s competition,” said Ronnee Ades, adviser to the winning team from Rutgers University and Director of the Master of Quantitative Finance program Office of Career Management for Rutgers Business School. “The CME Group Trading Challenge is a great opportunity for students to gain hands-on experience with financial markets, and complements what they learn in our academic program.”
The teams that emerge victorious from the competition received a cash prize and attended a market education conference held at the CME Group. CME Group offers a variety of risk management education. Not only do they throw this contest for university students, but they also provide educational tools on the finance business.
“CQG is proud to partner with CME for the annual CME Group Trading Challenge,” Stan Yabroff, product specialist at CQG said. “The Challenge continues our commitment of providing the next generation of traders and university students from around the world with real-time trading opportunities in a dynamic trading environment. We would like to honor the winning teams and congratulate the all the almost-600 teams that participated for continuing this great tradition.”