The 2022 instalment was held last week in our Trading Facility at our city campus.
Once the bell rang 49 students, grouped in teams of three and acting as brokers or banks in a major foreign exchange dealing room, battled it out to generate as much profit as possible by making simulated currency trades based on live market data.
Well done to Rajasimhan Yuvraj, Sankar Kumar Jothimurugan and Savenaca Vocea who took out the win after generating the most profit during the simulation.
Financial Planning student, Jackson Edwards, said the competition helped him to apply his knowledge from his studies in a practical way.
“I found when I started it was quite difficult but through the experience, I was able to develop my skills and at the end felt far more confident in my ability to trade on foreign markets.”
Chi Ching who is studying Economics and Finance said it was a great experience but generating profit was more difficult than she expected.
“Making money is actually really hard, you have to make sure you don’t spend too much.”
RMIT Trading Facility Manager and Senior Lecturer, Tim Pfitzner, said:
“This was the second time we’ve held this competition, which gives our students an opportunity to apply the skills and knowledge their gaining through their studies in a fun and practical way.
“This year we opened the competition up to students outside of the finance field to help them get some insight into how financial markets work and improve their financial literacy and understanding.
“But most importantly, the competition is really an opportunity for our students to gain experience, have fun, learn something new and meet new students at RMIT,” said Tim.