NYMEX Commodities Challenge in 2010 has concluded. If you are interested in participating in this competition, please check back in Spring 2011. For further questions, contact our Competition officer at Competition@flautd.com.
NYMEX COMMODITIES CHALLENGE 2010
New York Mercantile Exchange (NYMEX) usually takes place around March. The CME Group will invite college students around the nation to participate in its annual commodity trading competition. The competition comprises two phases – Electronic trading though top professional trading platform & Open Outcry Challenge where students are acting like floor trader and are expected to execute buy/sell orders on behalf of their clients.
Phase One: Electronic Trading
Team-based trading though CQG Trader platform provides students with real time data equipped with charting tools. Students will learn the techniques to trade crude oil and gold futures as they explore the platform. Team with the four highest account balances at the end of the Preliminary Round will advance to the National Finals Round. The national champion will be determined by the highest account balance in the National Finals Round. Last year, the winning team was awarded a $4,000 scholarship.
Phase Two: Open Outcry Challenge
Individual-based competition will take place in the Bauer School of Business at the University of Houston. Participating students assumed the role of a pit trader, buying and selling crude oil futures contracts. Students will be judged individually by NYMEX officials and professional floor traders on their ability to watch/influence the market, as well as the ability to execute trades on behalf of clients. After each round, judges identify top traders to advance to the next round. Students who perform well in the University of Houston will have opportunity to travel to New York City for a bigger scale Open Outcry Challenge at the real NYMEX trading floor. Cash and possible internship will be awarded to the winners.
Specific rules and registration process will begin around January 2010. If you’re interested in participating, please email Competition Officer at Competitions@flautd.com and check back in the near future. Meanwhile, FLA will try our best to keep every students updated.
Cash prizes and bragging rights are there for the taking! Do you have what it takes to win?
Click on the link below for a word document highlighting our performance in 2009!