Office of External Communications

Houston, TX 77204-5017 Fax; 713/743-8199

April 11, 2007

Contact: Richard Bonnin
713/743-8155 (office)
281/840-9820 (cell)


HOUSTON, April 11, 2007 – About 100 students from across the country will experience the high stakes intensity and dynamics of energy trading and hedging during the sixth annual Open Outcry Competition April 14 in the AIM Center at the University of Houston’s C.T. Bauer College of Business.

Students from the University of Houston, The University of Texas at Austin, Rice University, Texas A&M University, the University of Texas at Dallas, Oklahoma State University, Texas State University, the University of Richmond (in Richmond, Va.) and Quinnipiac University (in Hamden, Conn.) will compete in the event, which is sponsored by the New York Mercantile Exchange (NYMEX), BP, Shell, Merrill Lynch and others.

Just as NYMEX traders do, participating students will fill hypothetical orders on behalf of their clients, weighing the consequences of news events such as weather changes, pipeline transportation problems and in-ground storage issues that may affect supply and demand.

Once the market opens, students will negotiate price and quantity for commodities futures in “open outcry” fashion. That is, students will cry “buy” or “sell,” depending on their needs and market prices.

Participants will be judged on how well they execute their customer’s orders and how well they trade. Winners will be awarded cash scholarships.

“This is always entertaining, but along with all the frantic fun, there’s an excellent opportunity for the students to gain valuable first-hand market experience,” said Praveen Kumar, chair of the finance department at the Bauer College.

WHAT: Open Outcry Trading Competition
WHO: About 100 finance students from nine universities across the country
WHEN: Saturday, April 14, 2007
  9 a.m. – 11:30 a.m.
11:30 a.m. – 12:15 p.m.
12:15 p.m. – 1 p.m.
1 p.m. – 2 p.m.
2 p.m. – 2:30 p.m.
2:30 p.m. - 3 p.m.
Opening remarks, panel discussion, practice trading round
Initial round of competition
Second round of competition
Lunch and judging
Final round of competition
Awards and closing remarks
WHERE: AIM Center for Investment Management, Melcher Hall, University of Houston, Entrance 1

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