On August 9, UNIST hosted the 4th Rotman-UNIST Trading Competition (RUTC), bringing together teams of primarily graduate-level students and their faculty advisors from top-ranked universities across South Korea, for a unique two-day simulated financial market trading challenge.
This year, a total of 84 student traders from 16 universities in South Korea partook in the event. Over the course of two days, participants simulated trading strategies used in real markets. Through the competition, teams from Korean universities had the opportunity to put their knowledge to the test through a series of cases in the field of finance, such as energy & commodity trading and liquidity risk cases.
The competition utilizes the Rotman Interactive Trader, an order-driven market simulator, which was developed in-house at the University of Toronto’s Rotman School of Management, and used by universities and professionals around the world.
The 2019 Rotman-UNIST Trading Competition started with cases, involving open outcry trading. Open outcry is the traditional method of trading, used at stock or future exchanges, and involves hand signals and verbal bids and offers to convey trading information. Because the system was used to open up the market in early trading, the idea of using the system in the event indicates the start of the competition.
Second day of the competition divided into two main areas. First is algorithmic trading with programming where students compete for profits via statistical and ETF arbitrages. The second part deals with energy commodities trading where students are challenged to make profits in the virtual trading of crude oil, petroleum products, and natural gas.
Two teams from UNIST triumphed in this year’s competition. The first place award went to a team named ‘MCM’—composed of Ye Chan Kang, Joo Won Kim, and Seung Hwan Lee from UNIST.
“This was such an incredible experience, as I considered becoming a commodity trader,” says Ye Chan Kang (School of Energy and Chemical Engineering, UNIST). “I’m sure that I will be able to use this experience as a springboard to amazing careers.”
The second place winning team was ‘T.G.S’—composed of Yoo Jeong Kim, WonSeop Shin, and JaeYoon Sim from UNIST. The third place award went to a team named ‘Black Swan’—composed Min Kuk (Gachon University), TaeGyun Jeong (Gachon University), and SangHoon Seo (Hanyang University).