JUNO does not contain financial advice as defined by the Financial Advisers Act 2008. Consult a suitably qualified financial adviser before making investment decisions. This story reflects the views of the contributor only. Content comes from sources that JUNO considers accurate, but we do not guarantee that the content is accurate. Charts are visually indicative only.
Registrations for the CMC Markets National University Trading Challenge are officially open, with the competition already underway for the month of September.
Hosted in association with the University of Auckland’s Management Consulting Club (MCC), the annual competition gives students the opportunity to gain real world trading experience by allowing them to put their investment theory to the test.
All teams will be given a $10,000 virtual fund to trade in a range of financial derivative instruments, including currency, commodity, shares and global indices via the CMC Markets online platform. Teams are made up of no more than one or two students.
Prior to the event, each of the teams will undergo a training session to familiarise themselves with the platform. After the first week, teams will be given the option to ‘reset’ their account balance to $10,000 as they learn to navigate their way around the platform and the challenges of trading.
Jonathan Chisholm, President of the University of Auckland Management Consulting Club (MCC) say, “This competition is a great opportunity because it’s a vital educational tool for many students as they get to catch a glimpse into the trading world.
“This gives students the most realistic exposure to the industry and enables them to experience the thrill of seeing portfolio fluctuations, without actually putting their own money at risk. Without CMC Markets, this wouldn’t be possible and for that, we are hugely grateful for their continued support,” Jonathan adds.
Chris Smith, General Manager at CMC Markets New Zealand, says, “We are proud to continue our involvement with this educational initiative for the sixth year running by continuing our partnership with MCC. We are in full support of providing these students access to our innovative trading platform, it fosters the emerging talent coming through and gives them a strong basis in which to apply their investment philosophy and use it in a practical environment.”
Now in its sixth year, the competition will run for four weeks from the 1st – 30th of September with all students competing to secure the highest return on investment. The team that finishes first place will receive a cash prize of $1,500, second place will receive $300 and third $200, there will also be a range of individual prizes such as ‘best trade’ and ‘best trade per product.’