The Options Trading Simulation and the Canadian Derivatives Exchange Scholars Program were launched in February 2012 as part of Montréal Exchange (MX)’s financial education initiatives. These programs were created to support university finance students interested in learning about derivatives products, as well as to reinforce MX’s position as the centre of excellence for derivatives in Canada.
The Options Trading Simulation has grown significantly from the initial seven participating universities in Québec to today’s participation level of 19 universities in five provinces*. There are almost 800 teams registered, which is an increase of 367% compared to last year’s event.
The 3rd edition of the contest ended on November 29, 2013. The three winning teams have respected the mandatory components while accumulating the best return:
- Samuel Brière from HEC Montréal (QC) received the 1st prize of $10,000 with a total return of 256%;
- Javier Hernandez-Cotton and Amyn Damji from Concordia University (Montréal, QC) received the 2nd prize of $5,000; and
- Daniel Rokhvarger from Ryerson University (Toronto, ON) received the 3rd prize of $2,500.
MX’s trading simulator is used in the contest with the added feature of the newly integrated options calculator, which is also available as a stand-alone mobile tool. The calculator is an educational tool that can be used to assist individual investors and professionals in calculating the Greeks and computing the theoretical value of options.
The 2013-14 Canadian Derivatives Exchange Scholars Program awarded a university graduate scholarship of $15,000 to Delia Alexandra Doljanu of HEC Montréal for her research project on credit risk management. The university postgraduate scholarship of $20,000 went to Jean-François Bégin of HEC Montréal, who is conducting a research project on modeling, pricing and hedging of credit derivatives in the context of plans.
The Options Trading Simulation will begin again on February 3, 2014 and the deadline to apply for the Scholarship Program is May 16, 2014. For more details about the Options Trading Simulation please visit m-x.ca/sim and for the Canadian Derivatives Exchange Scholars Program please visit m-x.ca/bourses.
* In September 2013, the Options Trading Simulation was expanded to include students in Manitoba, New Brunswick, Nova Scotia, Ontario and Québec.