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2010 Tulane Energy Trading Competition
trading competition

 

Information:

Universities will compete in a unique, risk-adjusted, fast-paced electronic trading competition. This competition was created to closely resemble the trading skills that commercial energy trading firms practice for sustained success in today's highly-volatile markets.

Highlights:

  • Top Universities Competing
  • Risk-Adjusted Results
  • Internships awarded to winners
  • Electronic Trading
  • Many Different Formats
  • Crude Oil and Natural Gas Futures
  • Graduate & Undergraduate Students

Details:

The Remote Round is a team-based remote electronic trading event and runs for two weeks. The Final Round, showcasing the top 14 teams (28 students), will be an individual-based electronic trading event hosted at Tulane University in New Orleans, Louisiana. The format will be based on strategy formulation and presentations in a state-of-the-art simulation environment where students will face several energy market events.

Remote Round

  • Opportunity to Trade Crude/Gas
  • Live Market
  • Risk Adjusted
  • Leading Energy Trading Software
  • Team-Based
  • Qualifying Round!

Dates:

Remote Round takes place over two weeks
Week 1: September 20th - September 27th
Week 2: September 27th - October 1st

Calendar

What to do/Format:

Trade Prompt-Month and Prompt + 1 Crude and Natural Gas Contracts
Minimize Risk and Follow the Market
Make At Least 5 Trades Per Day
Make Sure You Are Flat(a net postion of zero) at the End of the Trading Day

Risk Adjustment/Penalties:

The Remote Round of the trading competition was based on risk-adjusted profit and loss (PnL), using the Tulane Energy Index (click here for more information). Daily results include both the unadjusted PnL, as well as, the risk-adjusted PnL, which includes the effects of the Tulane Energy Index and any penalties assessed.

Please note that the values generated from applying the Tulane Energy Index will be used only for ranking purposes, not determining your credit availability.In addition, the value of the Tulane Energy Index and the adjusted PnL improves as more data points are included in the results period alloted for this competition. Penalties are as follows:

  1. Each team is required to make a minimum of 5 trades per day. The definition of a trade is provided on the website. The team is penalized $1,000 for each trade not executed under this minimum.
  2. Trading outside of the instructed hours and/or contracts results in an asymmetric penalty. The penalty is a 15% loss of the outstanding position. If the team has profited from the trade, all profits are voided and the penalty is enacted. If the team has lost on the trade, the penalty is added on to the losses.

Final Round

  • Individual Trading, Not Team Trading
    Top 28 Students (14 teams) Invited from Remote Round
  • Scenario Based Trading
  • Contact with Executive Energy, Trading and Banking Judges

Dates:

When: October 22, 2010 - October 23, 2010
Where: Tulane University, A. B. Freeman School of Business, New Orleans LA
Attire: Business Casual

What to do/Format:

Before Event:
Finalists will be notified via email by Tuesday October 5, 2010
Inform trading@tulane.edu of your plans to attend and send updated resume by October 8, 2010
Verify your personal information

At Event:
This is a scenario-based individual trading round comprised of two trading sessions.  The Natural Gas scenario will be traded in the morning and Crude oil scenario in the afternoon.  Participants will also present to the judge panel their trading strategies as well as explain their trading results.  Winners will be determined by the judges on a combination of trading, risk, management, strategy, and presentation skills.

For more information, please email trading@tulane.edu with requests for additional details.

Last Updated 10/9/10
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