American University of Sharjah students complete successful trading game sponsored by DFM and NASDAQ Dubai
Students at American University of Sharjah (AUS) have completed an exciting month-long trading game sponsored by Dubai Financial Market (DFM) and NASDAQ Dubai, in which they gained an insight into real-life investment strategies.
More than 30 School of Business Management students took part in the inaugural simulated online Mock Securities Exchange competition. They traded stocks, foreign exchange, indices, exchange-traded funds and commodities. Each player started with a notional 100,000 dirhams.
The winner was Omar Kayali, who received a nomination for a potential internship at NASDAQ Dubai or DFM and an iPad Air. Zahra Fawzi and Fahad Abdul Ghani, in second and third place, each won an Apple iPad Mini. Craig Hewett, NASDAQ Dubai's Senior Vice President of Business Development, handed out the prizes at an awards ceremony.
Hamed Ali, Chief Executive of NASDAQ Dubai, said: “The students of today are the business leaders, finance experts and investors of tomorrow and it is vital for the economic success of the UAE that they learn responsible and effective investment skills. This online trading initiative sets them on the right path and we are delighted to provide further support by offering the possibility of an internship at the region’s international exchange, as we move into a new period of innovation and expansion.”
The two most popular asset classes amongst the students were US stocks and commodities. Apple shares and oil (light crude) were in almost every student’s portfolio.
Dr. Liliana Danila, Assistant Professor of Economics at AUS, said:"The Mock competition provided a virtual environment for our students to apply concepts learned in class and to test themselves. In addition to being a fun event, it allowed students to realize the complementarity between course work and professional experience.At AUS, we aim to help our students grow in many ways, other than academically. The Mock Competition proved to be a perfect medium to increase our students’ motivation for professional and educational engagement alike."
As the competitors traded their way to triumph, students at the university were enthusiastic and curious as the excitement built up through the month of the competition. Following the success of its inaugural Mock Securities Exchange competition, the Dean’s Business Team of AUS plans to develop this initiative further and provide more financial education programs to students.