Third Victory for MFE Students in Rotman International Trading Competition
Second Consecutive Win Follows Recording-Breaking Success in 2016
MFE Program Co-Director Dan Stefanica, Dmitriy Treyger, Gongshun (Gordon) Yin, Bell Chen, Zhaoyue (Robert) Wei, Prof. Jarrod Pickens, Qinkai Mao, Hongshan Chu
New York, NY – March 2, 2017 – Four students from Baruch College’s Master of Science in Financial Engineering (MFE) program and two undergraduates, who were among the winners of the Traders@MIT competition in November 2016, scored an unprecedented third victory for Baruch College at the University of Toronto’s 14th-annual Rotman International Trading Competition. The win marks the second consecutive victory for Baruch following its record-breaking success in 2016. The College first took home the top prize during the 2012 competition.
This year’s winning students are Bell Chen, Hongshan Chu, Qinkai Mao, Dimitriy Treyger, Zhaoyue (Robert) Wei, and Gongshun (Gordon) Yin. Their coach was Professor Jarrod Pickens.
“A back-to-back win is a spectacular achievement, but having no returning students on this year’s team from the team that won last year is remarkable and testimony to the strength and competitiveness of our students year after year,” said Dan Stefanica, PhD, co-director of the Baruch MFE Program. “This win fits perfectly in the pattern of success we have established in the past few years, when our program ended in Top 4 out of 50 or more teams every year we participated since 2011.”
According to Stefanica, a record-tying 52 academic institutions participated this year, including University of Calgary (2), LUISS Carli Guidi University of Rome (3), University of Toronto (7), Carnegie Mellon (11), NYU (12), Fordham University (16), University of Chicago (18), and Columbia (29).
The Baruch MFE team never ranked below 6th place in any of the events, a feat which surpasses last year’s record-breaking accomplishments.
The team won the Mathworks Algorithmic Trading Case which is designed to test students’ programming skills by developing algorithms to automate trading strategies and react to changing market conditions. The Baruch team placed second in the Flow Traders ETF case which challenges participants to put their critical thinking and analytical abilities to the test in an environment that requires them to evaluate the liquidity risk associated with different tender offers.
The team was tied for third place in the BP Commodities case, took fifth place in the Volatility Trading Case, and sixth in the Quantitative Outcry case.
How Rotman International Trading Competition Works
RITC presents teams with six simulated trading cases that closely mimic different aspects of real world markets. These include commodities trading, credit risk, sales and trading—each of which Baruch won—equity valuation, where Baruch placed second, and algo trading where Baruch ranked third. There is also a competition for quant outcry.
Teams receive the cases three weeks before the competition date (held February 19 and 20 this year) so they can research and develop strategies that position them to earn the highest PnL. The competition is held in the state-of-the-art simulated trading floor at the Rotman School of Management at University of Toronto. During the three-week research period, Baruch’s team logged many hours in the Wasserman Trading Floor in the Subotnick Financial Services Center which is one of the largest and most technologically advanced educational facilities of its kind.