Rotman Market Simulation Challenge x CMU | November 2nd, 2024
Undergraduate students are invited to participate in the 2024 Rotman Market Simulation Challenge (RMSC x CMU), supported by the BMO Financial Group Finance Research and Trading Lab at the Rotman School of Management (Rotman FRT-Lab), hosted by Carnegie Mellon University.
RMSC x CMU brings together teams of students to compete in a unique 1-day simulated market challenge where they test their skills in real-time from the safety of a structured learning environment.
We encourage all teams from Carnegie Mellon participating in the Rotman Market Simulation Challenge to take part in the Rotman International Trading Competition. The challenge is a perfect place to acquire and enhance your skills using RIT in preparation for this event.
The challenge is a perfect place to acquire and enhance your skills using RIT in preparation for Rotman International Trading Competition 2025.
Awards
🥇1st Place - TBA
🥈2nd Place - TBA
🥉3rd Place - TBA
Registration Dates
Registration Opens
Date/Time TBA
Registration Closes
Date/Time TBA
Qualification
- Participants must be current graduate students in a degree program as of 2024/2025 academic year.
- Two student members are required per team.
- We encourage diverse and inclusive teams; each participating team should be composed of different genders.
Technical Requirements
- The software platform, Rotman Interactive Trader must be downloaded on a Windows machine.
- Mac users can install a virtual lab on their computer for free. Click Here for more information.
Schedule
November 2nd, 2024
- 09:00 am - 09:30 am | Registration, Light Breakfast
- 09:30 am - 10:15 am | Welcome, Briefing Session
- 10:30 am - 12:00 pm | Case Study #1
- 12:00 pm - 01:00 pm | Lunch
- 01:00 pm - 02:30 pm | Case Study #2
- 02:30 pm - 03:30 pm | Networking Session
- 03:30 pm - 04:00 pm | Award Ceremony
Location
Carnegie Mellon University
5000 Forbes Ave,
Pittsburgh, PA 15213,
United States
Case Summaries
Liability Trading Case
The Liability Trading Case challenges participants to test their critical thinking and analytical skills in an environment where they must evaluate the liquidity risk associated with various tender offers. Throughout the case, participants will encounter multiple tender offers, requiring quick decisions on whether to accept and execute, or reject each offer based on their profitability. Profits can be achieved by exploiting price differentials between market prices and private tender offers. Once a tender is accepted, participants should focus on efficiently closing out their large positions to maximize returns and minimize liquidity and market risks.
Algorithmic Market Making Case
The Algorithmic Market Making Case is designed to introduce participants to algorithmic strategies for market making, where the objective is to earn the bid-ask spread while providing liquidity for an individual stock. Participants will need to use their programming skills to develop algorithms with the RIT API to automate trading strategies and respond to changing market conditions. Throughout the case, these algorithms will submit orders to profit by earning the bid-ask spread and pursuing rebates through competitive limit orders that get filled. Given the high-frequency nature of the case, participants are encouraged to develop algorithms that can quickly adapt to rapid changes in market dynamics using their preferred programming languages
Practice Session (Virtual)
Prior to the competition, please join us for the mandatory virtual practice session on the following date:
- October 30th, 5:00 pm - 6:00 pm (EST)
*Meeting link will be sent to you via email upon registration.
Practice Server and Practice Session
Once registered, your team will be given access to the Getting Started Page approximately 2 weeks before the competition date.
This includes:
- Case Package
- Your team’s RIT Market Simulator Access Credentials
- Dates of the Practice Server period
- Virtual Practice Session Date
Take your finance career to the next level
In addition, this year, RMSC is part of a groundbreaking initiative at Rotman School of Management – The Rotman Finance Analytics and Decision-Making League (RFADML). Your registration fee will not only automatically give you an all-access pass to Rotman’s new specialized themed conferences which include topics on Finance, Machine Learning and Analytical Skills, this initiative allows you to earn qualification points for additional rewards to ultimately earn the prestigious title of international academic champions.
To know more about RFADML:
Dress Code
RMSC is a professional business competition, so participants are expected to dress in business casual or business formal attire.
Health and Safety | COVID-19
Competition participants are responsible for following health and safety measures where applicable. Individuals should report health and safety concerns to the competition committee via email at financelab[at]rotman.utoronto.ca, who will promptly review, assess and implement measures to address the concern where appropriate.
Measure to reduce risk of exposure:
- Individuals who are sick or who have COVID-19-related symptoms should stay home/hotel/accommodation.
- Isolate until there is no fever and symptoms improve for 24 hours (48 hours for gastrointestinal symptoms), regardless of testing results or no testing.
- Refer to: Ontario COVID-19 Self-Assessment and Procedures in the Event of a Confirmed Case and/or COVID-19 Symptoms.
- Avoid touching your face, nose or mouth with unwashed hands.
- Wash your hands often and thoroughly with soap and water or alcohol-based hand sanitizer.
- Practice proper respiratory etiquette, such as sneezing and coughing into your elbow.
- Face masks are encouraged, and we ask everyone always to respect the decisions of others, their comfort levels, and their health needs.
Statement on Equity, Diversity, and Excellence
Equity and Human Rights
The purposes of this statement are to express the University’s values regarding equity and diversity, and relate these to the institution’s unwavering commitment to excellence in the pursuit of our academic mission.
At the University of Toronto, we strive to be an equitable and inclusive community, rich with diversity, protecting the human rights of all persons, and based upon understanding and mutual respect for the dignity and worth of every person. We seek to ensure to the greatest extent possible that all students and employees enjoy the opportunity to participate as they see fit in the full range of activities that the University offers, and to achieve their full potential as members of the University community.
Our support for equity is grounded in an institution-wide commitment to achieving a working, teaching, and learning environment that is free of discrimination and harassment as defined in the Ontario Human Rights Code. In striving to become an equitable community, we will also work to eliminate, reduce or mitigate the adverse effects of any barriers to full participation in University life that we find, including physical, environmental, attitudinal, communication or technological.
Diversity and Inclusiveness
Our teaching, scholarship, and other activities take place in the context of a highly diverse society. Reflecting the intersectionality in our community is uniquely valuable to Rotman, as it contributes to the diversification of thoughts, ideas, and perspectives that enrich our teaching, scholarship, and research activities. We will proactively seek to increase inclusion and feelings of belonging among our community members, with an aim to having a student body, teaching and administrative staff that mirror the diversity of qualified applicants. For more information, please click here.