2011 Tulane Energy Trading Competition
Competition Rules & RegulationsClick here for a pdf version of the Summary and Full Rules
SUMMARY OF RULES
1. Participants must be a student currently enrolled at a qualified university as either an undergraduate or graduate student.
2. Each university will be permitted to enroll up to 2 teams consisting of two (2) students per team into the Remote round of the trading competition.
3. There will be a maximum of 100 teams permitted into the Remote round of the competition and will be on a first-come, first-served basis.
4. In the Remote round, teams will trade the prompt month Natural Gas & Crude Oil contracts (live data and simulated results) on the CME Group NYMEX.
5. Remote round trading will start on October 3, 2011 and end on October 14, 2011 during the hours of 8:00am through 4:00pm (Central) Monday through Friday of each week during this period.
6. Finalists (winners) will be based upon the hourly-computed risk-adjusted account balances using the Tulane Energy Index.
7. All trades must be made using Trading Technologies' X_Trader® electronic software provided. Trades may be based on any combination of technical or fundamental data. Thomson Reuters software and live data will be provided to assist in analyzing news, fundamental market indicators, and charting. Mathworks software will be available to participants who send a request by October 15, 2011.
8. Remote round trading will assume a beginning equity account balance is $100,000, require a minimum of 5 trades per day, a maximum number of open contracts permitted at any one time to be 25 contracts, and all contracts must be closed at the end of each day.
9. No open positions outside of trading hours are allowed. All positions must be closed by 4pm (central) of each day. Trades not closed will be unwound at a 15% penalty to the then prevailing market price.
10. Products traded: The first and second contract of:
a. Light Sweet Crude (CL) Trading Unit: 1,000 U.S. barrels (42,000 gallons) Price Quotations: U.S. dollars and cents per barrel. Minimum Price Fluctuation: $0.01 (1 cent) per barrel ($10.00 per contract).
b. Natural Gas (NG) Trading Unit: 10,000 million British thermal units (mmBtu) Price Quotations: U.S. dollars and cents per barrel. Minimum Price Fluctuation: $0.001 (1/10 of a cent) per mmBtu ($10.00 per contract).
Note: No other products are allowed. In the event that another product is traded profits will not be realized from those trades but losses will be realized.