Saxo Bank and Abu Dhabi University expand scope of competition for graduate traders to reflect volatile world markets
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."
Entrance to the competition is free for eligible postgraduates who can register online at: http://www.adu.ac.ae/saxo.
The prizes being sponsored by Saxo Bank include USD10,000 for the first place, a two-nights’ trip to Saxo Bank’s head office in Copenhagen for second, and an iPhone 6 for third place. Two additional iPads will be awarded to two other participants who demonstrate particularly noteworthy investment strategies with further prizes to all participants.
Saxo Bank Group (Saxo) is a leading Fintech specialist focused on multi-asset trading and investment and delivering ‘Banking-as-a-Service’ to wholesale clients.
For 25 years, Saxo’s mission has been to democratize investment and trading, enabling clients by facilitating their seamless access to global capital markets through technology and expertise.
As a fully licensed and regulated bank, Saxo enables its direct clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides wholesale institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology, supporting the full value chain delivering Banking-as-a-Service (BaaS).
Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.
Founded in 1992 and launching its first online trading platform in 1998, Saxo Bank was a Fintech even before the term was created. Headquartered in Copenhagen Saxo today employs more than 1500 people in financial centers around the world including London, Paris, Zurich, Dubai, Singapore, Shanghai, Hong Kong and Tokyo.