Media Contact:Stu Vincent
Send an E-mail
Date: May 01, 2007
Hofstra MBA students sweep NYMEX Commodity Challenge Competition
Zarb students take top spots in simulated trading contest
Hofstra University, Hempstead, NY – Hofstra MBA students took the top four places and six of the top 10 spots in the New York Mercantile Exchange (NYMEX) simulated trading competition on Friday, April 27, 2007, Frank G. Zarb School of Business Dean Salvatore F. Sodano announced today. The Open Outcry Trading Competition was held at the NYMEX trading floor.
Participating students assumed the role of a pit trader, buying and selling crude oil futures contracts. Team supervisors Dr. Ahmet Karagozoglu, academic director of the Trading Room at Hofstra who accompanied the students to the competition, 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, the students’ dedication and hard work and the several rounds of practice sessions students completed at the Trading Room. The room gives faculty and students the ability to access and analyze a vast array of financial and economic data, apply analytical methods, conduct interactive trading simulations, and develop contemporary financial models.
“I am very proud of our students' dedication and their ability to apply what they have learned in a competitive environment,” said Finance Department Chair Dr. Nancy White. “Our students have demonstrated that they can rise to the top in real world situations.”
First prize of $1,000 cash and a prestigious summer internship at NYMEX was awarded to Surbhi Kapoor, a finance MBA student. Sila Nazli Saylak, an M.S. in finance student, and Tansel Alan, a finance MBA student, won second and third place cash prizes. Girish Bhalla , another finance MBA student, took fourth place. Two additional Hofstra Finance MBA students, Anshul Shah and Deepak Chandela, were among the competition’s 10 prize winners.
A panel of judges made up of NYMEX officials and floor traders evaluated 30 student traders on their ability to execute trades. After two rounds of competition, judges identified the top 10 traders, who then advanced to the final “money round” where individual winners received cash prizes. Friday’s trading competition was the final round of the Fouth Annual NYMEX Commodity Challenge. Earlier this year, a Hofstra team placed third in an electronic trading competition among 36 college teams from 21 schools, including Harvard, Yale, Stanford, Columbia and NYU.
The Hofstra winners in the NYMEX Open Outcry simulated Trading Competition were:
1. Surbhi Kapoor, Hofstra University ($1,000 and summer internship at NYMEX)
2. Sila Nazli Saylak Hofstra University ($850)
3. Tansel Alan Hofstra University ($750)
4. Girish Bhalla Hofstra University ($600)
7. Anshul Shah Hofstra University ($100)
8. Deepak Chandela Hofstra University ($100)
Hofstra University is a dynamic private institution where students find their edge to succeed in more than 140 undergraduate and 155 graduate programs in liberal arts and sciences, business, communication, education and allied human services, and honors studies, as well as a School of Law. With a student-faculty ratio of 14-to-1, our professors teach small classes averaging 23 students that emphasize interaction, critical thinking and analysis. Hofstra offers a faculty whose highest priority is teaching excellence, cutting edge technology, extensive library resources, internships and special educational programs that appeal to their interests and abilities. The Hofstra community is driven, dynamic and energetic, helping students find and focus their strengths to prepare them for a successful future.