By Jessica Titlebaum
Students from all over the globe gathered Friday, May 6, in the Netherlands, where stock trading first took place in 1602, at NYSE Euronext, to compete for the title of “Best Student Trader in the World.”
Sponsored by Aegon Asset Management, NYSE Euronext and Optiver, among others; the Trader Trophy competition tests students on stress management, risk management and profitability. The students have one hour in a simulated trading environment provided by Oxyor, a financial trading firm.
The competition began in 2008 with students from Singapore, Hong Kong and the Netherlands. This year, the competition included 12 countries such as; America, India, Germany and South Africa. The winner received the RSM/Oyxor Financial Management grant valued at EUR 30,000 and the title of best student trader in the world.
Menno Haesen is the Managing Director of the Trader Trophy. He explained that the competition aims to prepare students for real-world trading.
“We believe there is a big gap between theoretical studies and practicalities you can use when you are on the floor,” said Haeson. “Everyone wants experienced traders and the students have hands on experience from this.”
The students traded Eurodollars and gold futures as well as securities; such as shares of Intel and AMD. They concluded with credit default swaps.
“This was the first year we had the finalists gather for a global event,” said Haesen. “The top two universities from each country came to the finals.”
And who is the best student trader in the world? Out of 7000 students, Anja Ong from Maastrict University in the Netherlands won the title.