Nanyang Poly team wins trading competition

In an annual competition for budding traders, a team from Nanyang Polytechnic (NYP) beat nearly 500 other teams from 30 countries by making the most money.

This is the first time a Singapore team has won the CME Group Trading Challenge, organised with CQG, since it started 13 years ago.

Mr Darrell Lim, 21, Mr Toh Qin Yi, 22, and Ms Chong Lishi, 20, are all final-year students taking a diploma course in banking and fund management.

Open to all tertiary institutions, the four-week electronic trading competition lets students learn hands-on techniques for trading futures across major asset classes on CQG's real-time trading platform.

Said Mr Anthony Ng, a senior lecturer who oversaw the team: "The prestigious challenge is a capstone event for our final-year banking and fund management students, where they compete and benchmark themselves against the best in the world."

In the preliminary round from Feb 2 to 17, all participants were given a starting account balance of $100,000 to trade. The top 50 teams qualified for the final round from Feb 22 to March 4, where the starting amount was increased to $250,000.

In the final round, the NYP team achieved over 100 per cent in returns, with a final stipulated account balance of $500,000.

The runner-up team from Carnegie Mellon University, in the United States, managed a 77 per cent return, with a final stipulated account balance of $443,430.

Members of the winning team were awarded $1,000 each.

Mr Lim, the team leader, said: "We didn't expect to get through the preliminary round, much less win the competition. But we gained confidence as we rose up the ranks and I'm glad our hard work paid off."

He added: "Representing my polytechnic and winning a competition dominated by universities shows that anything is possible, as long as you are willing to try."

A version of this article appeared in the print edition of The Straits Times on March 12, 2016, with the headline 'Nanyang Poly team wins trading competition'. Print Edition | Subscribe