About GFT: Press Releases

View Printer Friendly Version

GFT Provides Trading Software and $10,000 Grand Prize for International University Forex Trading Competition

ADA, Mich., 2 Oct., 2006 — Finance and business students from 15 North American universities will compete in the Second Annual Texas A&M Inter–University FX Competition for the chance to win cash prizes and a $10,000 GFT forex trading account. Students will trade the largest financial market in the world — the foreign exchange (FX) market — using a $50,000 simulated trading account provided by GFT.

This is the second time competition organisers have chosen to use GFT’s award–winning forex trading software, DealBook® 360, which will allow students to place trades with simulated capital and access real–time currency price data, news and analysis tools. The DealBook® 360 software allows students to trade in the same environment as hedge fund mangers and other professional traders who trade currencies to profit from fluctuating foreign exchange rates.

“The number of students participating has grown threefold due to the success of last year’s competition, and GFT has been an integral part of that growth,” said Detlef Hallermann, competition organiser and assistant clinical professor of finance, Texas A&M University. “The software is easy to use and offers the students advanced charting capabilities so they can really learn how to analyse the market, which is critical for students who need to hit the ground running as the competition begins.”

A larger cash prize, the chance to win a $10,000 GFT forex trading account, and separate undergraduate and graduate divisions have been added for 2006. The overall winner from both divisions will be able to trade the $10,000 account through GFT for six months and retain any net profits.

“We are glad to be involved for the second year in a row because it provides students with a unique education and perspective of the forex market,” said Gary Tilkin, president and CEO, GFT. “We added the $10,000 trading account to allow students to truly apply what they have learned from the competition and experience the difference of trading with real money, which is an important transition for real traders.”

All students are required to keep a trade journal listing each trade placed, the reason for placing the trade and the result after closing out the trade. After the first round of trading, which takes place Oct. 1–15, students who have placed the minimum number of trades will move on to the second round. At the conclusion of the second round, which occurs during the second half of October, the six students from each division with the highest rate of return will receive prize money. The student with the highest overall rate of return will receive the grand prize of a $10,000 GFT forex trading account, and the school with the highest average will be recognized with a trophy.

“The rapid growth of the market has opened it up to new traders, some who have traded other markets, and some who have never traded at all,” said Gary Tilkin, president and CEO, GFT and STI. “Responsible forex companies don’t want their customers to enter the market with their eyes closed — we know that the strength of the market as a whole depends on the aptitude of the individual market participants.”

Participating schools include Fairfield University, Grand Valley State University, Manhattan College, Oklahoma State University, Pennsylvania State University, Rensselaer Polytechnic Institute, Rollins College, Siena College, Syracuse University, Texas A&M University, Tulane University, University of Iowa, University of Louisville, University of Toronto and Villanova University.

About GFT

Founded in 1997, Global Forex Trading (GFT) is a world–leading provider of real–time currency dealing, pricing and comprehensive services for retail and institutional foreign exchange traders. Serving a global customer base in more than 100 countries through its DealBook® 360 trading software and 24–hour dealing desk operation, GFT's world headquarters is based in Ada, Mich., with global offices located in Chicago, New York, Tokyo, Sydney, Australia and London (London office operated through GFT Global Markets UK Ltd.).

Global Forex Trading, Division of Global Futures and Forex, Ltd., is a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC), a registered broker–dealer with the U.S. Securities Exchange Commission, holds a license with Japan's Financial Services Agency (FSA) and holds a license with the Australian Securities & Investments Commission (ASIC). GFT Global Markets is authorized and regulated by the Financial Services Authority. More information about GFT can be found at www.gftforex.com.

CONTACT:
Tim Gort
Manager of Marketing & Communications
Global Forex Trading
(616)942-3757 (tgort@gftforex.com)

Top

Back to Press Releases