It looks like a set from hit Hollywood movies Wall Street and Trading Places, but the RMIT Trading Facility (RTF) is for finance whizzes learning to "buy" and "sell".
The facility, to be officially launched this morning, will flash live market data to take students from the classroom to the trading room floor. A bell will ring loudly to signal the start and close of trading and screens will beam rolling share prices, so students can learn to make major investment decisions and safely navigate the global financial markets on their feet.
The high-tech teaching tools and system are part of a conjured environment to deliver real lessons to students using pretend clients and fake money.
A partnership between RMIT University and Thomson Reuters, the facility simulates what is happening in financial markets for teaching and learning purposes.
One of the largest tertiary-based facilities of its type in Australia, the RTF will take live market feeds from Thomson Reuters, a global leader in providing information and technology used by financial professionals.
Managing director, Financial and Risk for Thomson Reuters in Australian and New Zealand, Daryl Sisson said today’s students are the next generation of global financial executives and they should have the best possible tools at their fingertips.
“We’re proud to be powering RMIT’s new Trading Facility with Eikon, our new generation financial platform, and to give students real-time access to the breadth and depth of our industry-leading market data, analytics and tools,” he said.
School of Economics, Finance and Marketing, senior lecturer Dr Monica Tan said the RTF will give RMIT’s finance students an edge over their competitors.
“Students will sit at dealers’ desks and use market data in real-time trading simulations for multi-asset portfolio and risk analysis, hedging, money market and foreign exchange trading, conducted at real-time market rates,’’ Tan said.
“It will give our students an edge with prospective employers and this part of the course will be crucial to their ability to get jobs.’’
Bachelor of Business student, Jeremy Breukel, said the facility had given him “real-life’’ experience in stock analysis, before starting as a Portfolio Administrator at Bell Potter Securities.
“The system I trained on at RMIT is the same one I use at work and this gave me a real advantage over others, it helped me hit the floor running when I began working here,’’ he said.
What: Launch of the RMIT Trading Facility, with Thomson Reuters
When: Tuesday 13 October 2015 from 10am to 11am
Where: RMIT University, Building 80, Level 4, Trading Facility (Room 46), 445 Swanston Street, Melbourne.
For general media enquiries: Deborah Sippitts, 9925 3116 or 0429 588 869.