We are delighted to announce that the APU Innovation Forex Traders team, comprising Team Leader, Li Kien Wong and Team Members Muhammad Talha, Jo Anne Wong, Shuya An, Yee Chee Liang achieved a remarkable 4th place ranking among 39 universities from the US, Europe and Asia, in the recently concluded 11th CME Group Trading Challenge. They were the only team from Asia in the Top 4 as well as the only Malaysian team in the final round of 39 teams. In addition, no Asian team was even ranked within the Top 20! Kudos to the Faculty Advisors Owen Chan, Suresh Kumar and Muhammad Umar Islam from the School of Accounting, Finance and Quantitative Studies for guiding the team to this stellar achievement.
This year’s competition which began on February 4, 2014 and concluded on March 7, attracted a record participation of nearly 400 university teams comprising 1,500 students from 31 countries around the world. The final round saw only 39 university teams make the grade, in which APU emerged among the Top 4. APU’s winning team received a cash prize as reward and an invitation to a one-day market education conference at CME Group on April 11.
The 4-week CME Group Trading Challenge is an electronic financial trading competition in a simulated trading environment on a real-time professional platform provided by CQG and the world renowned Dow Jones. In the Preliminary and Challenge rounds, the teams are required to trade in Agriculture, Metals, Energy, Forex, Equities Index and Interest Futures (Note: Futures are an agreement traded on an organized exchange to buy or sell assets, especially commodities or shares, at a fixed price but to be delivered and paid for at a later date). All open contract commissions and penalties are calculated and applied to determine the final balance and the eventual winners. The final ranking of the Top 4 universities in the CME Group Trading Challenge is listed below:
University – Team Name – Final Simulated Account Balance
Universitat Politecnica de Catalunya – Team Ocean Futures – $404,652.50
Boston University – Team Lighthouse – $374,535.00
Georgia State University – Team Panthers FX Traders – $361,150.00
Asia Pacific University of Technology & Innovation – Team Forex Traders – $354,770.00
About the Organisers
As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com
Dow Jones (news.dowjones.com) explains the world and the world of business. With authoritative journalism and smart technology, Dow Jones provides a window on events, clarify issues, inspire new thinking and give readers and business customers the insight they need to make informed decisions. Dow Jones premier brands include The Wall Street Journal, DJX, Dow Jones Newswires, Factiva, Barron’s, MarketWatch and Financial News.
CQG’s (www.cgq.com
Do join us in celebrating the success of these brilliant students! Congratulations and thumbs up for their excellence!
