The First Computational Finance Competition (Competition) jointly organized by Hong Kong based Global eSolutions (HK) Limited (GES), a leading financial trading platform provider, and the IEEE (Hong Kong) Computational Intelligence Chapter (IEEE (HK) CI Chapter) is officially kicked off. The Competition is held for students from universities in Hong Kong to foster the pursuit of algo trading among university students. The Competition has received an overwhelming response of entries, with more than 60 participants in 35 teams. Stage 1 of the Competition for algo development and testing is now in progress.
During the Competition, all participants are required to use the Auton trading platform provided by GES for algo development and backtesting with historical data in stage 1. The participants will execute virtual trading by live data on the platform in stage 2 during 3 July to 11 August 2017. Every participant will use algo strategies to trade on CFDs of 50 Hang Seng Index Constituent Stocks and several major indices with a simulated capital of HK$1 million.
Participants will have a chance to win the prize of up to HK$8,000 and half-year free usage on the GES Auton Software. At the end of the Competition, participants with the “Best Overall Return” and “Best Risk-Adjusted Return” will be the winners. Top two teams of each category will be awarded the Champion and First Runner-up respectively. The Champion will be presented with book coupons of HK$3,000 and a cash prize of HK$5,000, while the First Runner-up will be presented with book coupons of HK$2,000 and a cash prize of HK$3,000. A “Weekly Best Return” award will also be presented to each weekly winner who gains the largest positive profits by each week during the competition period, including 6 winners in total. Each weekly winner will be presented with HK$300 book coupon as the reward.
Dr. Vincent Tam, Chairman of IEEE (HK) CI Chapter, said, “Students’ overwhelming response to the Competition shows their keen interests in algo trading. It is hoped that students can grasp this opportunity to put investment theories into practice and gain valuable experience of trading simulation in the real investment world.”
Mr. Ken So, Senior Quantitative Developer of GES, said, “We are glad that the academia in Hong Kong has responded enthusiastically to the Competition. As one of the pioneers in development of quantitative finance in Asia, GES has dedicated to promoting the application of computational intelligence in the financial industry for years. The Competition is definitely a good channel to nurture the next generation of Fintech talent and promote the development of Fintech in Hong Kong investment market.”
Auton serving as the virtual trading platform in this Competition is a true multi-asset platform which supports FX, Bullion, CFDs, Equities, Futures and Stock Options. Its built-in algo trading kit allows traders to deploy existing trading strategies or script their own one in the platform. Allowing algo backtesting and forward-testing with historical data and live data respectively, Auton helps traders to develop the unique trading strategy that will work best for them.
For more details and competition ranking which will be updated each week, please visit: www.ges.com.hk/20170703.
About the First Computational Finance Competition
The First Computational Finance Competition is organized by Global eSolutions (HK) Limited (“GES”) and IEEE (Hong Kong) Computational Intelligence Chapter (“IEEE (HK) CI Chapter”), which invite undergraduates and postgraduates students from renowned universities in Hong Kong to foster the pursuit of algo trading among university students in Hong Kong. It was initiated with the vision to promote the use of Computational Intelligence in the area of finance, identify algo trading talents at top universities and provide top performers with potential career opportunities
The IEEE is the world's largest professional organization dedicated to advancing technological innovation and excellence for the benefit of humanity, with more than 430,000 members in over 160 countries. Through its highly cited publications, conferences, technology standards, and professional and educational activities, IEEE is the trusted voice on a wide variety of areas ranging from aerospace systems, computers, and telecommunications to biomedical engineering, electric power, and consumer electronics. Learn more at http://www.ieee.org.
Global eSolutions (HK) Limited (“GES”) is a global leading provider dedicated in financial technologies for more than 10 years. GES empowers financial institutions with algo-trading capability, advanced risk management and FIX bridging solutions. GES fully covers the needs of the on-floor trading and OTC markets, with value-added services ranging from IT technical support, system integration, bespoke software and network infrastructure development to hosting services. With GES technologies, financial institutions are able to overcome the challenges of risk management, position management, liquidity source and trading across different financial instruments in a single platform. GES’s well established partnering with top-tier financial institutions and prime brokerage firms can fulfill customers’ needs of liquidity and market depth. GES ensures the highest level of certainty and satisfaction through comprehensive industry expertise and a deep-set commitment to customers.