The Royal Bank of Scotland (RBS) recently put on a Trading Game, "RBS Market Index Game," for the Accounting and Finance Society to participate in. A total of 35 students participated and each was given a virtual £100,000 to invest. The game ran for two weeks on a trading platform similar to one of the trading platforms that the RBS GBM Division (Global Banking and Markets) sells to its clients to trade on.
Following two weeks of trading, the results ranged from a 110% return to an 80% loss. Approximately 10 students finished in excess of the £100,000 they started with and the biggest single gain from one trade was £40,020, this was made by a student who went short on the FTSE 200. Several members of the Accounting & Finance Society won prizes donated by the Department.
The winners were:
First prize (overall winner and week 2 winner): Ajaz Ahmed (£50 voucher); 2nd place and week 1 winner: Marcus Muller; 3rd place: Svetoslav Covachev; biggest single trade gain: Andrew Maclean; 2nd biggest single trade gain: Michael Macdonald.
Winner Ajaz Farooq commented, "Investment Banking and rogue traders have been centre of attention in media coverage since the recent financial crisis, and after completing a Summer placement in Sales & Trading at Royal Bank of Scotland it was then my intention to create awareness of the real life necessity of financial markets, and furthermore bring the trading experience to life at the University of Strathclyde."
RBS has launched a trading platform known as 'RBS Market Index', it was this platform that allowed for a trading competition to take place on campus. The platform allows for trading in foreign-exchange, commodities, market indexes and bonds, these asset classes cover the vast range of investments and gave students the chance to trade with live prices and a portfolio that initiated at £100,000 each. The event was successful for both the students - with over 30 participants from various backgrounds from engineering to marketing - and RBS who are more than happy to run the event again next semester.