A team of Stirling Management School students have demonstrated their trading prowess in achieving 10th place among 468 teams that competed in the 2016 CME Group Trading Challenge. Organized by the world's leading market place for financial derivatives, the Chicago Mercantile Exchange (CME), this year saw 1,890 students from 200 universities, spread across 30 countries, participate in the online competition over a one month period. The Stirling team, called Pinnacle, were the top-ranked UK University team in the competition. The Stirling students are studying for the MSc in Investment Analysis, a Program Partner of CFA Institute, the leading global body of investment professionals.
In the Challenge, University students from around the world traded a variety of futures contracts using live data in a simulated environment. Students were allocated an initial, notional sum of $100,000 to trade futures contracts linked to the prices of commodities such as corn, live cattle, crude oil, and gold. Profits were made from correctly predicting whether prices would rise or fall. Stirling’s Pinnacle team grew their initial capital through astute trading and qualified for the final round of the Challenge, where their new allocation of $250,000 was also grown successfully, resulting in their top ten finish. As a result of their success they have been invited to the CME Group Day of Market Education Conference in Chicago next month.
MSc in Investment Analysis Course Director Dr Kevin Campbell said: “The students deserve praise for effectively combining their daily involvement in the competition with their normal studies and for making astute decisions in changing market circumstances that generated an overall profit.”
The challenge provides a foretaste of the real world of financial trading that all Stirling Management School students will experience next month when they participate in the week-long Amplify Trading Boot Camp on campus.
Members of the Stirling Pinnacle team, pictured from left to right are: Team Leader Nhung Nguyen, Fang Yao, Xinyi Yao, and Huong Quynh Nguyen.