University Trading Challenge – Competition Rules
1) Who is eligible to Compete
Both graduate as well as high potential undergraduate students.
We are currently in the phase of registration. University Team Leaders can fill
out the registration form to reserve a spot for a team from their institution.
They must be students of an accredited university, but they can be in any program. (MBA, Undergrad, Masters, etc.)
3) Team Compositions
Teams can be comprised anyway that students and faculty organize. For example, a team may be comprised of just undergraduate students and another team of graduate students. A Team must consist of 3 students.
Due to facility and logistical constraints, we can only allow for 20 teams of 3 students.
Team Member Requirements
Each Team Member must be currently enrolled in an undergraduate or graduate program at the time of the competition. An individual is ineligible to be a Team Member if that individual has: 1) Previously participated as a Team Member in the UTC Challenge, 2) has or is no longer a matriculating university student.
4) Competition Weighting & Participation Requirements
Trading Challenge (25% of the competition results)
The Real Market Trading Challenge will start on October 12th. Team members will need to select a Team Leader to trade the predetermined portfolio via an online interface. Rules for trading are available by clicking here. This portfolio challenge will use the “Real News Trading Simulator” from CapitalWave for students to trade with and for results. For this particular challenge, the students will compete for both individually AND as a team. The results for both will be tabulated to determine placement.
Portfolio Challenge (25% of the competition results)
For the Portfolio Management Challenges, individual Team members will be given a trading screen to participate in a trading simulation. Each simulation will provide each student the opportunity to trade a limited number of securities over a simulated trading day. Student Trader results will then be measured on the quality of their trading, using standard trader analytics of Profitability, RaRoc, Sharpe Ratio, Sortino Ratio, and Portfolio Alpha/Beta.
This challenge will use the CapitalWave “Portfolio Management Simulator” which will be available at the event.
Investment Banking Challenge (25% of the competition results)
Each Team will make each Presentation to a panel of Judges. Teams may utilize their Faculty Adviser as a resource, but may not enlist the help of any other professionals in preparing or evaluating the presentations. Each Presentation can include the use of PowerPoint or other presentation software. The teams cannot hand the judges any printed material before the Presentations. All Presentation material must be submitted at the time of Registration.
Treasury Challenge (25% of the competition results)
Teams are asked to be a Treasury for a Major Fortune 100 company. They are specifically tasked with managing the currency risk for a part of the company. They are to trade a basket of currencies with the sole purpose to both hedges the corporate risk as well as generate profits from currency trading. For more information, please refer to the Rules for the competition.
Only Team Members may participate in the Investment Banking Presentations. The Presentation must be in English. Each presentation is limited to 8 minutes, however, an additional 5 minutes will be provided to answer questions posed by the Judges. Only Judges are permitted to pose questions to a Team during a Presentation. Each Presentation will be timed and the time-keeper will provide a one-minute warning and an announcement when the time has expired. When the timekeeper announces that time has expired, Teams must immediately conclude their Presentation.
Teams may not listen to other Presentations prior to their own Presentation. A separate room should be reserved for Teams to wait before their allotted Presentation time.
All teams are encouraged to participate in all of the UTC Challenges. In the event that a particular team is unable to participate in all challenges, they acknowledge that they cannot be listed as either individual challenge or competition winners. If a particular team fails to compete in a challenge, their score for that challenge will be zero.
5) Contest Judging
For the Portfolio and Sale & Trading Challenges, any determination of errors in order entry, execution and eligibility shall be determined by UTC to be final with regards to the contest standings.
6) Consent to Publication of Ranking and Results
Entry to the contest constitutes permission for the University Trading Challenge to post the university’s and trader’s information, including, without limitation, name, perform and relative ranking, on the University Trading Challenge website and to use all information for purposes of advertising and promotion without compensation to the universities or contestants.
The University Trading Challenge reserves the right to disqualify a team or individual from the competition if at least one of its members:
- tampers with or manipulates or tries to tamper with or manipulate the simulations in any way whatsoever,
- carries out or tries to care out manoeuvres which compromise or misrepresent or aim to compromise or misrepresent the goal or spirit of the simulation,
- trades in the real market, directly or indirectly, to take advantage of or influence any simulation,
- adopts a behaviour that jeopardizes the simulation process or any other behaviour deemed inappropriate by the UTC,
A disqualified team is NOT eligible for a prize or certificate of participation.
8) Prohibited Use of Contest for Promotional Purposes
Contestants acknowledge that the University Trading Challenge name and that of the contest are copyrighted and are the sole property of CapitalWave Inc. Contestants shall not, either alone or in concert with others, use their participation in the contest for promotional purposes unless approved in advance in writing by the University Trading Challenge. If a contestant violates this provision, the contestant may be disqualified from competition in the contest for future contests at the University Trading Challenge’s sole discretion. If determined by University Trading Challenge to be in violation, the contestant agrees to pay all legal fees and damage incurred by University Trading Challenge, including those to enforce this provision.
All issues and question concerning the construction, validity, interpretation, and enforceability for the rights and obligations of the contestants and University Trading Challenge in connection with the Contest shall be governed by and construed in accordance with the substantive laws of the State of New York, without regard to choice of law rules.
9) Postponement, Cancellation, Acceptance, and Removal
University Trading Challenge reserves the right to modify the contest terms, to postpone the contest commencement date or to cancel the contest if, in its sole discretion, it determines that such action is reasonable and necessary. University Trading Challenge may reject any contestant’s application for any reason. Furthermore, University Trading Challenge has the right to remove or bar any contestant from the contest for any reason in its sole discretion, including, without limitation, barring any contestant who would or might: bring disrepute to the contest; or who has violated any rule, law or regulation pertaining to futures trading; or has attempted to benefit from any collusive or other trading irregularity. University Trading Challenge will review and monitor all participants throughout the contest in the interest and fairness of all participants. Minimum participation required; we reserve the right to cancel the contest if minimum participation is not reached. In the event that the contest is canceled, entry fees will be refunded and no prizes will be awarded. University Trading Challenge reserves the right to cancel the contest at any time and will make honest efforts to notify all contestants. No Refunds; exception: in the case of contest cancellation, refunds will be available for an entry fee.
10) Conflicts of Interest
All participants in the University Trading Challenge, including Hosts, Teams, Team Members, Faculty Advisers, and Judges have an obligation to avoid actual or potential conflicts of interest with their participation. A conflict of inters may exist when a participant or participant’s family member of a close friend is involved in actives that may impact the participant’s ability to perform their role fairly and impartially. A conflict may be actual or perceived.
Updated as of: January 6, 2020