On August 9, UNIST hosted the third Rotman-UNIST Trading Competition (RUTC), bringing together teams of primarily graduate-level students and their faculty advisors from top-ranked universities across South Korea to partake in a unique two-day simulated market challenge.
Dean Kooyul Jung of the Graduate School of Interdisciplinary Management rings the bell to mark the start of the 2018 Rotman-UNIST Trading Competition.
Modeled after the highly successful Rotman International Trading Competition (RITC), the Korean variant of this year’s competition has been jointly hosted by the Graduate School of Interdisciplinary Management (GSIM) of UNIST and the University of Toronto’s Rotman School of Management in Canada. The event has been also supported by the City of Ulsan and the Explanable Artificial Intelligence Center (XAIC) at UNIST.
A total of 69 student traders from 14 universities in South Korea partook in the event. During the two-day event, students competed in a diverse range of cases, including the energy trading case, sales & trading case, open outcry case, liquidity, and algorithmic trading case. 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 first place award went to the team ‘U-Traders’, composed of Jaesung Lee, Sanghwan Noh, and Mingyu Kim at UNIST.
Two teams from UNIST triumphed in the two-day competition with 21 universities across the nation. The first place award went to the team ‘U-Traders’, composed of Jaesung Lee, Sanghwan Noh, and Mingyu Kim at UNIST. The second place winning team was ‘Stockcraft’—composed of Dongwon Park, Yong Hyeok Seo, and Kihun Park at UNIST. The third place award went to the team ‘On-guard’—composed Donghyun Kim (Chung-Ang University), Byeonghoon Bae (Kyung Hee University), and Yurim Noh (Keimyung University).
“This competition we are hosting with Canada’s leading business school, Rotman School of Management at the University of Toronto is a great opportunity for students to gain real-world experience and exposure to the world of stock trading and evaluation,” says Director Daejin Kim of the Center for International Energy Trading at UNIST. “This will also contribute significantly to the cultivation of skilled trade workers in the areas that involve mining, manufacturing, oil and gas.“
The 2018 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.
During the case for open outcry trading, students are writing down the current stock prices on a piece of paper at the 2018 Rotman-UNIST Trading Competition.
On the second day of the competition, students competed in a diverse range of cases, including algorithmic trading and energy commodities trading.
Meanwhile, the Rotman International Trading Competition (RITC) is an annual event that brings teams of primarily graduate-level students and their faculty advisors from top-ranked universities worldwide to participate in a unique three-day simulated market challenge. Every year, RITC participants are invited to participate in various activities including electronic and outcry trading cases, seminars with industry practitioners, and social events with their fellow competitors from around the world.
The Rotman School of Management is located in the heart of Canada’s commercial and cultural capital and is part of the University of Toronto, one of the world’s top 20 research universities. The Rotman School fosters a new way to think that enables our graduates to tackle today’s global business and societal challenges.
Shown above is the second place winning team was ‘Stockcraft’—composed of Dongwon Park, Yong Hyeok Seo, and Kihun Park at UNIST.
The team ‘On-guard’—composed Donghyun Kim (Chung-Ang University), Byeonghoon Bae (Kyung Hee University), and Yurim Noh (Keimyung University)—won the 3rd place.
