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Following a report by LeapRate two weeks ago that Saxo Bank and Abu Dhabi University (ADU) had begun its appeal for entries to the postgraduate investment competition which is operated by the two institutions, Saxo Bank has today announced that ADU and Saxo Bank have expanded the scope of their virtual trading competition for graduates in the Gulf Cooperation Council (GCC) to reflect the current volatility of the world economy.
Rather than stock market trading only, the ADU Postgraduate Investment Competition 2015 will now include multi asset trading to enable students to demonstrate a wider range of investment strategies.
Fadi Mehdi, office manager of Saxo Abu Dhabi said: “The world economy is currently going through an intriguing period of adjustments. The increased volatility in the markets reiterate the need for a more careful approach and thus investors need to be equipped with better educational tools to give them the support they need to make more informed decisions. In this situation we felt multi-asset trading would enable the participants to utilize a greater variety of strategies to demonstrate their trading skills in such a volatile marketplace.”
The educational initiative by Saxo Bank and ADU invites postgraduate students from universities across the GCC to trade US$100,000 in virtual money to see who can make the highest returns while best fulfilling the criteria stated in the trading guidelines, from which they will be judged on.
“The majority of entrants are business, banking and economic graduates and the competition will certainly test their understanding of market behaviours in response to economic and geopolitical conditions,” said Basant Mohammed, Competition Manager of ADU. We are very pleased with the number of entries we have received for the competition.”
Following their active participation in the competition the postgraduates will present their investment strategies to a panel of expert judges at an award ceremony to be held at the ADU campus on 28 March 2015.
“Whenever there are big movements in markets there are opportunities for making, or loosing, a lot of money,” added Basant Mohammed “This is going to be a thrilling competition to find the Warren Buffett of the Middle East.”
Saxo Bank is well versed in operating specialist enterprises which engage traders, the most notable of late being the Saxo Trade Challenge, a trading competition open to Saxo Bank A/S clients with a minimum funding of USD $2,000.
Saxo Trade Challenge was designed to reward the top three performing traders on its award-winning, multi-asset social trading site, TradingFloor.com, and took place over a seven week period, from October 27th to December 18th last year.
For the official announcement from Saxo Bank, click here.