Baruch Student Places 2nd in International Trading Competition
NEW YORK, NY – January 9, 2013–Baruch student Juan Pablo Alonso Escobar won second place in the 2012 Metaquotes Automated Trading Championship held from October 1 to December 28, 2012.
Juan Pablo, who is enrolled in Baruch’s Master’s in Financial Engineering Program, won a $25,000 money prize. He was among the 451 traders from more than 50 countries on all continents, who created trading robots that participated in the competition. The Top 20 included participants from the United States, Spain, Russia, Belarus, China, Lithuania, Indonesia, France, and Italy. Results can be viewed online.
Born in Mexico, Juan Pablo earned his bachelor’s degree in Canada, before deciding to move to the United States. He worked for a few years as an equity trader for a Canadian proprietary investment group, where he developed and monitored automated and semi-automated analysis and execution systems. After he completes his Master’s in Financial Engineering in spring 2013 from Baruch, Juan Pablo plans to continue working on algorithmic trading.
The use of trading robots has generated on-going discussions among business professionals and analysts, who have witnessed how high frequency trading is changing the global market. In an interview conducted by Metaquotes, Juan Pablo addresses whether trading robots will eventually push human traders out of the market?
“They will not push human traders completely out of the market, but they will (continue to) drastically reduce the number of human traders needed to maintain an efficient market,” said Juan Pablo. “Regardless of how fast and logical they seem to be, robots are programmed and monitored by humans, so they still respond to human emotions, fear and greed. Human traders will still be needed to examine the data, update the instructions on the automated trading programs, and monitor their performance. The trading profession is not going to disappear entirely, but it will definitely continue to become more technical and more specialized.”
Learn more about Juan Pablo and how he prepared for the Metaquotes Automated Trading Championship in his online interview.
The Master of Financial Engineering Program is offered through the Math Department of the Weissman School of Arts & Sciences at Baruch College. Graduates from the program have been successful in the job market earning positions with high-profile financial organizations.
About Baruch College:
Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 17,000 students, who represent 160 countries and speak more than 100 languages. Ranked among the top 15% of U.S. colleges and the No. 5 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world. For more about Baruch College, go to http://www.baruch.cuny.edu/.
Manny Romero, (646) 660-6141, firstname.lastname@example.org
Mercedes Sanchez, (646) 660-6112, email@example.com
Celene McDermott (646) 660-6134, firstname.lastname@example.org