5th Annual NYMEX Commodities Challenge North East

5th Annual NYMEX Commodities Challenge

Hofstra University HQT-Hofstra Quants & Traders Club, Columbia University SIPA Energy Association and University of Houston Bauer Finance Association are sponsoring the 5^th Annual NYMEX Commodities Challenge together with the New York Mercantile Exchange and CQG.

Hofstra’s Quants & Traders and Columbia ’s Energy Association will be co-hosting the Northeast Open Outcry Competition at the NYMEX trading floor in New York City . Northeast Open Outcry Competition will be held on Friday April 11, 2008.

Please click here for the details of Northeast Open Outcry Competition page.

Electronic Trading (PHASE I)

Teams will trade full size Crude Oil and Natural Gas front (possibly back) month contracts, on a mock $100,000 account using CQG Trading Platform. Teams are required to make a minimum of 3 trades per day. At the final round top four teams from round 1 will compete for the scholarship prizes. The top 4 teams with the highest account balances will earn scholarship prizes. The winning teams will be announced in Houston & New York during Phase 2 of the competition.

Dates for Electronic Trading (Phase I)

Round 1: February 13, 2008 to March 14, 2008 click here for Results of Round 1

Round 2: March 24, 2008 to April 8, 2008

Rules and Regulation:

Starting Balance is $100,000.00.

Teams must make at least 3 trades a day.

Only Crude (CL) and Natural Gas (NG) can be traded.

Any contract month can be traded.

NYMEX Margins will apply.

Only one team member can login at any one time.

Open Outcry Trading (Phase II)

Students will trade Crude Oil contracts using Open Outcry method. NYMEX traders will judge students based on their ability to fill their orders and proper trading technique. Finalists will be awarded scholarship prizes, with first place in the Houston competition (hosted by University of Houston ) winning an internship with Ray Carbone (VOX) and Paramount Options in New York . The first place winner in the New York competition (hosted by Columbia and Hofstra) will receive an all expense paid internship with ConocoPhillips in the Houston office. Please click here for the details of Northeast Open Outcry Competition page.