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Results for “TT CampusConnect”

Dead Ringer

Bears 3
 

“Once in awhile you get shown the light
In the strangest of places if you look at it right.”
-Scarlet Begonias

As the manager of TT CampusConnect™, Trading Technologies’ university outreach program, I spend a lot of time on college campuses and have the opportunity to reap the benefits of those visits.

On a recent visit to one of our partner schools, the University of California Santa Cruz (UCSC), I noticed a poster advertising the Grateful Dead Archive, a collection available for public viewing in UCSC’s McHenry Library. What? This is right up my alley. As a big fan of all things “jam” (the Dead, Dave Matthews, Phish, et al.), I had to check this out.

In 2008, the band members donated over 30 years of business records, posters, backstage passes and laminates as well as audio and video recordings to the university. They even donated the skeletons used in the music video for their song Touch of Grey. Guitarist Bob Weir said, “It seemed to all of us that the stuff really belongs to the community that supported us for all those years. And Santa Cruz seemed the coziest possible home for it.” Ah, California!

While in the university bookstore, I came upon a book by Professor Barry Barnes, the chair of leadership at the Huizenga School of Business at Nova Southeastern University in Fort Lauderdale The title was Everything I Know About Business I Learned from the Grateful Dead. Really? This I had to check out.

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A Trader’s DNA

Alex Preda King's College London
 

The following is a guest post authored by Alex Preda. He is professor of accounting, accountability and financial management at King’s College London, a TT CampusConnect™ partner school since 2013. His principal research activities relate to global financial markets, and his research interests include: strategic behavior in financial markets; decision-making and cognitive processes in electronic anonymous markets; market automation and trading technologies. His publications include, among others, Framing Finance: The Boundaries of Markets and Modern Capitalism (University of Chicago Press, 2009), Information, Knowledge, and Economic Life: An Introduction to the Sociology of Markets (Oxford University Press, 2009) and Noise. Living and Trading in Electronic Finance (University of Chicago Press 2016, forthcoming).

What makes a good trader? It’s an important question and one that preoccupies those in capital markets. I have the opportunity to interview a number of traders to see if I can determine what makes them tick and what kind of characteristics are essential for success. Here are some of the insights I gleaned.

I discovered that it is more than a trading strategy, available capital or a particular trading philosophy. For these to be effective, they need a firm foundation. I don’t know if I can say someone is born a trader, but I can say there are certain attributes to a trader’s personality that are significant for successful trading and constitute a good trader. If these questions seem more psychological than financial, it’s because they are. Needless to say, these questions preoccupy traders, both institutional and retail, as they try to improve their performance. In similar fashion, interview questions probe candidates to determine if they have what it takes to ensure the success of a trading desk.

Even when the markets were pit traded and physical prowess mattered, height, energy and a loud voice could take a trader just so far. These were trading tools available to some, but they were wasted if the individual lacked the essentials. Today’s tools are electronic and automated, but in the same spirit they are only as good as the individual using them. Even though traders today monitor computers and trading strategies are automated, firms still look for certain qualities that define a trader.

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Real Good in Real Time

When I was a business school student in college, a standard exercise was to pick a number of securities, carefully roster them in a notebook and register the closing price each day throughout the semester. Information was gleaned from The Wall Street Journal, and when the dust settled, some students made money and some lost. I’m not sure we learned much given that we read about how our portfolio performed instead of actually experiencing the market and engaging with it.

How times have changed. For the better, I might add.

Now students can experience market dynamics, not just read about them. University professors understand that students need to move beyond the classroom and actually experience what they have been studying.

carnegie mellon university

Carnegie Mellon University

Carnegie Mellon University (CMU) is one example of a school that’s providing students with that real-world experience by leveraging our software through the TT CampusConnect™ program.

CMU offers both BS and master’s degrees in computational finance, a discipline that first emerged in the 1980s. Sometimes called financial engineering or quantitative finance, computational finance uses mathematics, statistics and computing to solve finance problems.

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Students’ Experience with Commodity Trading Translates into Jobs

The University of Wisconsin-Madison has been a TT CampusConnect partner school since 2014. Sheldon Du, an assistant professor of agricultural and applied economics in the College of Agricultural and Life Sciences, uses both the X_TRADER® and TT® platforms in his Commodity Markets class to help students understand the concept of managing price risk. Read on to learn more about Professor Du, his class and how it’s preparing his students for careers in the commodity markets.

From left to right, trading team members Jackson Remer, Brad Jaeger, Carly Edge, Cory Epprecht, Sam Seid, and Professor Sheldon Du. Not pictured: Nicholas Barber and Hannah Fritsch.
From left to right, trading team members Jackson Remer, Brad Jaeger, Carly Edge, Cory Epprecht, Sam Seid, and Professor Sheldon Du. Not pictured: Nicholas Barber and Hannah Fritsch.
Using real-world commodity-trading software and armed with simulated trading experience in agricultural markets, some University of Wisconsin-Madison students are finding paths to jobs after graduation.

 

“We prepare students by providing the knowledge of the trading software used by professionals and an understanding of how these sometimes-volatile markets work in real time,” says Sheldon Du, assistant professor of agricultural and applied economics.

Du says that the market for Agricultural Business Management majors is promising, and students’ experience with professional software platforms and hands-on simulated commodity trading makes them more attractive job candidates.

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