Melcher Hall is transformed into a frantic trading floor during the annual CME Group Open Outcry Challenge, which will be held this year on March 26-27.
Finance students from the University of Houston C. T. Bauer College of Business will shout their way to the top of the competition against students from schools across North America this weekend during the annual Open Outcry Challenge in Melcher Hall.
The event, which will be held March 26-27, is phase two of the Chicago Mercantile Exchange Group Commodities Trading Challenge and is organized each year by the college’s Finance Association (FA) along with CME Group.
Competitors must prove their trading skills in a simulated market that reflects the everyday job of CME traders and execute their customers’ orders as best as possible, using the “open outcry” method, which involves fast-paced shouting and hand signals to transfer information about buying and selling.
Past winner Ana Lucia Chaverria’s win in the competition brought her to New York where she works for an asset management firm as an analyst.
The courses offered at UH Bauer emphasizing real-world learning give students from the college the edge against their competitors, said Juan Tejada, a finance senior and FA president.
“Classes that we’ve taken here at Bauer, including energy trading, options and futures, and international financial management, give us a great introduction to the art of trading,” he said. “These courses help us understand the basics, which we can take and use in competitions like this one.”
In previous years, Bauer students have placed in the top three, with Ana Lucia Chaverria (’08) taking the top spot in 2008 and earning an all-expenses-paid internship with the New York Mercantile Exchange, which previously sponsored the competition.
“We train and are advised by past winners,” Tejada added. “We have intense training session, where we simulate the competition. Our student organization is also charged with planning and coordinating the event, so we’ve been working around the clock, getting all the details taken care of.”
This year’s competition will include 80 participants from 10 universities in North America, including 20 students from UH Bauer. For more information, visit the Finance Association website.