| NEWS RELEASE |
|
Office of External Communications |
Houston, TX 77204-5017 Fax: 713.743.8199 |
|
FOR IMMEDIATE RELEASE |
Contact: Angie Joe |
||||||||
|
IN MOCK TRADING COMPETITION AT UH More than 60 students from five universities will be screaming their heads off this Saturday – but not for a rock concert or a ball game. They will be filling orders, as New York Mercantile Exchange (NYMEX) traders do, during a simulated “open outcry” competition at the University of Houston’s Bauer College of Business Saturday, April 16. Participants are from UH, Rice University, Texas A & M University, University of Texas and Oklahoma State University. Students will weigh factors that influence market demand, including overseas production, government announcements, refinery explosions, the Organization of Petroleum Exporting Countries (OPEC) policies and other current events. Based on prior knowledge and research, the bidders will generate orders and decisions. The focus will be on commodities of live feed and crude oil, as prices rise and fall. Actual NYMEX traders will judge based on performance, execution and ability to react to the market’s dynamic environment. Sponsors including Prudential Financial Derivatives, LLC; NYMEX; Bauer College of Business; UH’s Global Energy Management Institute; BP; Praxair; Riverway Petroleum Partners; Texas Star Royalty LLC; Merrill Lynch; Amerex; Sequent Energy; Cinergy and Stanford Financial Group. Individual first, second and third place scholarship awards of $1,000 with an internship to NYMEX, $500, $250 respectively will be distributed at the end of the competition. “Participants get a real life taste of what traders do in New York and learn to deal with extremely stressful situations,” said Lily Hsu, vice president of UH’s Financial Association (FA). “Also, students will have the opportunity to network with potential employers at the event.”
For more information about UH visit the university’s ‘Newsroom’ at www.uh.edu/admin/media/newsroom. |
|||||||||