March 25, 2015
How do you predict the future trading price for a barrel of oil? You may be more likely to succeed if you have a statistician, a financial expert and computer scientist working together.
Waterfront International Ltd. (WIL), a quantitative finance research firm specializing in developing computer-based statistical trading strategies, challenged University of Toronto students to develop an automated trading strategy for oil prices – in only 48 hours.
“The programming – or hacking – community is known for its intensive, problem-solving approach,” said Helen Kontozopoulos, coordinator and instructor of entrepreneurship‐related initiatives in the department of computer science. “Quantathon was designed to challenge U of T students from a diverse range of computational studies.”
“We use technology to solve complicated finance problems and rely on people with backgrounds in computer science, statistics, mathematics and finance,” said Bob Suriwka, Waterfront International’s chief executive officer. “We approached the departments of computer science, statistical sciences and Rotman to create with us a contest that mirrors what we do in our business.”
Third place of $2,500 went to a team of students from UTSC: Lucas Huang (finance), Veronica Ng (statistics) and David Szeto (computer science).
Read more at U of T News