Media Contact:Stu Vincent
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Date: Apr 18, 2007
Hofstra team takes third place in NYMEX Commodity Challenge
Hofstra University, Hempstead, NY – Using the knowledge and experience they learned in the Frank G. Zarb School of Business Trading Room, a team of Hofstra graduate students took third place in the Fourth Annual New York Mercantile Exchange (NYMEX) Commodity Challenge, Zarb Dean Salvatore F. Sodano announced today.
From March to April of this year, two teams of graduate students from the Zarb Business School competed against 36 other teams from 21 schools, including Harvard, Yale, Stanford, Columbia and NYU. Student teams started off with $100,000 of trading allowance that they used to buy and sell natural gas and crude oil futures contracts. Teams with the largest gains advanced to the second round, where the starting allowance was $250,000.
A Hofstra team placed third in the competition. Rice University and Rolllins College took the two top spots. Hofstra’s team members were Surbhi Kapoor, Anshul Shah, Girish Bhalla, Pavan Chada and Ravinder Kumar.
Team supervisors Dr. Nancy White, Finance Department chairperson, and Dr. Ahmet Karagozoglu, academic director of the Trading Room, attributed the students’ success to their ability to apply what they learned in this semester’s Futures Market class, access to the resources in the Trading Room at the Zarb School and the students’ dedication and hard work. “Their success in the NYMEX Commodity Challenge proves that Hofstra students have what it takes to succeed in the complex world of trading in derivatives markets,” said Dr. Karagozoglu.
On April 27, 2007, Hofstra teams will also participate in an “Open Outcry” live trading competition at Columbia University. NYMEX will award cash prices to the top performers in these competitions. In addition, the winner of each Open Outcry competition will be offered a summer internship at NYMEX, with NYMEX picking up all travel and housing expenses.
The Frank G. Zarb School of Business offers a broad, well-rounded program of study guided by an experienced faculty committed to excellence. Day and evening undergraduate and graduate courses lead to the Bachelor of Business Administration, Master of Business Administration and Master of Science degrees, as well as minors in business subjects and certificate programs.
Hofstra University is a dynamic private institution where students find their edge to succeed in more than 140 undergraduate and 150 graduate programs in liberal arts and sciences, business, communication, education and allied human services, and honors studies, and a School of Law.