Students from the Baruch College’s Master Program in Financial Engineering (MFE) in the Weissman School of Arts and Sciences placed third ahead of 43 academic institutions including Duke University, University of Pennsylvania’s Wharton Business School and Northwestern University in the eighth annual Rotman International Trading Competition (RITC) hosted by the Rotman School of Management at the University of Toronto. The Baruch College team, including students Amanda Kotler, David Rapaport, Alexei Smirnov, and Yike Lu, won the High-Frequency Algorithmic Trading contest, and was in the top five in the Sales & Trading, Commodities Trading, and Interest Rates Trading sections of the competition. Baruch College’s Master Program in Financial Engineering is highly selective and offers a high-quality education at a fraction of the cost (roughly $11,500 for 2010 tuition) of other New York City-based MFE programs including Columbia University (roughly $49,000 for 2010 tuition) and New York University (roughly $39,000 for 2010 tuition).
The competition featured six distinct trading cases focusing on a diverse range of securities and markets, including equity shares, bonds, natural gas futures contracts, index futures contracts and even high frequency trading implemented by computer algorithms written by the students. Over the three day event, teams were able to demonstrate their ability to understand and successfully execute trading strategies on a consistent basis. Teams were scored over many different iterations of each case, and the final score was comprised of their rankings across all of the cases.
“It was a privilege to witness our students performing to 100% of their abilities,” said Dan Stefanica, the Director of Baruch College’s Master Program in Financial Engineering. “They formed a real team that worked together to improve the trading strategies in between the heats of each trading contest. I am very proud of all of them.”
More than 200 student traders, 30 faculty advisors and 20 sponsor representatives participated in the event. The Baruch College team placed ahead of several schools representing academic institutions from four continents. Students from MIT and the University of Chicago placed first and second, respectively.
The Master Program in Financial Engineering is part of Baruch College’s Weissman School of Arts and Sciences. The program is designed to provide the students with the background required for modeling and solving problems that arise in the financial-service industry. Courses such as Object Oriented Programming for Financial Applications, Market and Credit Risk Management, Deal Theory and Structured Analysis, Commodities and Futures Trading, Time Series Analysis and Algorithmic Trading are taught by practitioners from the financial industry, enhancing the practical knowledge and the financial engineering skills of our students. Other courses, such as Interest Rate Models and Interest Rate Derivatives, Volatility Surface, and Market Microstructure Models, are taught by full-time faculty with many years of work experience in the financial industry.
For more about Baruch College, go to http://www.baruch.cuny.edu/.
About Baruch College:
Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 17,000 students, who represent 160 countries and speak more than 100 languages. Ranked among the top 15% of U.S. colleges, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. Through its three schools—the School of Public Affairs; the Weissman School of Arts and Sciences; and the Zicklin School of Business, the largest AACSB-accredited business school in the nation—Baruch College offers a variety of undergraduate and graduate degrees that reflect the college’s foundation in the liberal arts and its strong focus on management and public affairs. Baruch College dates back more than 160 years to the founding in 1847 of the Free Academy, the first free public college in the nation. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world.
Contact: Ed Pachetti,