Bengaluru: Start-up Trakinvest and the Indian School of Business have together launched a virtual stock trading competition for top global business schools such as INSEAD, University of California Los Angeles and National University of Singapore.
Titled ‘Beat the Street,’ the competition is part of the fourth edition of ISB’s management fest–Advaita–and will use Trakinvest’s virtual trading platform.
Beat the Street is open to teams of two participants from the same school. Each team will be given initial virtual currency worth $100,000. They will have the option of trading in 10 stock markets, including the Nasdaq and the New York Stock Exchange, the London Stock Exchange, three Chinese stock exchanges and the National Stock Exchange of India Ltd (NSE), among others.
NSE and ISB’s trading laboratory is the knowledge partner for Beat the Street. The trading window for the competition opened on Monday and will run through 23 September.
Winners of the competition get to take home prizes worth $2,000. They will be chosen based on the percentage change in their portfolio’s net worth from the start of the game. Results will be announced on 24 September.
“Every student involved in Beat the Street is learning about stock trading in a whole new visual and social way, setting them up strongly for their future careers,” said Trakinvest’s CEO and founder Bobby Bhatia.
Trackinvest is a start-up run by Bhatia, who was a principal at JP Morgan Partners in Hong Kong and headed Principal Investments at AIG Financial Products.
“A trading competition like this enables students to apply investment concepts learnt in the classroom in a setting as close to the real world as possible. We at NSE-ISB Trading Lab hope this event will produce great traders and investors in the long run,” said Prasanna Tantri, senior associate director at the Center for Analytical Finance at ISB.