4 Oct 2013

Massey finance students trade for real

7:02 pm on 4 October 2013

Massey University has created a trading room at its Albany campus on Auckland's North Shore to give finance students real-life fund management experience.

Set up with Bloomberg terminals, live market information and news screens, the students will manage an initial $30,000 fund, and are working on creating a $1 million fund.

It's the first university-run trading room in the country and the brainchild of Associate Professor Russell Gregory-Allen, who started the project after working with similar setups in the United States.

Professor Gregroy-Allen said it would give students a competitive edge when they entered the workforce.

"Ordinarily, somebody would have to train somebody probably (for) six months before they can actually be productive on systems like this," he said.

"What this does is it allows students to get that experience before they go to the workplace and put them ahead of candidates who haven't had that advantage.

"In fact, I have seen job descriptions where they say 'candidates are preferred who have experience on these systems."

Professor Gregory-Allen said the trading room would also be used to run simulations, so researchers could conduct experiments and run models on market interactions.