The American stock exchange, Nasdaq, and Voleo, a Canadian Vancouver-based fintech company, have teamed up once again, in their bid to promote financial literacy and awareness among college goers. The Finovate Best of Show winner – Voleo and Nasdaq have jointly announced the Student Equity Trading Competition-2019, with winners getting cash prizes and the opportunity to attend a Nasdaq market opening.
According to Thomas Beattie, CEO, Voleo, understanding the financial markets is a steep learning curve, and both organizations are firm believers in building financial literacy.
The trading competition allows three or more members teams to either form or join an investment club on the Voleo platform. Once they’re on board, they are allowed access to Nasdaq Basic Data and can use Voleo’s Simutrader solution to manage simulated portfolios of $1 million. Teams can access Nasdaq Data to help them make informed trading and investing decisions. The contest is supposed to end in April 2019, when the winners will be decided.
First, when Voleo and Nasdaq collaborated, 300+ teams were formed. The winning team, the New Haven Bulldogs from Yale University, gains were 37.8% more than twice the gains of the second and third place runner-ups with the Baruch College Bearcats, at 16.3% and the Colorado College Tigers, at 15.3%. The top individual finisher reported gains of 17.2% during last year’s competition.