CMC Markets helping students learn in real world

CMC Markets helping students learn in the real world

CMC Markets is bringing some real-life trading experience to students from the University of Auckland’s Business School through the inaugural CMC Markets Business School Challenge.

CMC Markets, an online trading company, offer its clients all the benefits of trading shares without having to physically own them. Members trade CFDs (contracts for difference) which mirror the movement of securities, sectors, indexes, commodities and margin FX on the share market.

To give students the chance to experience the strategic decisions and risks associated with trading in the financial market, CMC Markets have partnered with University of Auckland’s Management Consulting Club.

Each team that registers for the competition is given $10,000 of virtual money to trade in any of the instruments CMC offer on its platform. After one month trading, the team with the greatest profit will win a cash prize of $500 and the possibility of representing the University of Auckland in a national competition.

To date, 100 teams of between two and four members have signed up to participate in the Business School Challenge. “The response has been unprecedented and we are really excited there’s so much interest in the competition,” says Chris Smith, General Manager CMC Markets. “It shows young people are really interested in experiencing the mechanics of the finance sector,” he says.

Through the Business School Challenge, CMC Markets is seeking to develop practical skills and awareness in students as real-life experience becomes an increasingly sought-after attribute in graduates.

“The CMC Markets Business School Challenge is going to give business students a taste of what it’s like in the industry,” says Brook Aspden, Management Consulting Club Coordinator, University of Auckland. “They will encounter issues and possibilities they had never considered and that will make this competition extremely valuable.”

The competition begins on 10 July 2009 and finishes 10 September 2009.

ENDS

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