Economics and Finance Association ran a mock trading floor
The University of Guelph’s Economics and Finance Association (EFA) hosted its fourth annual Guelph Finance Conference on Nov. 15 and 16. Since 2010, the organization has brought students together to develop a deeper knowledge of the financial sector.
The main event of the conference was the College of Management and Economics (CME) Trading Simulation, which took place on Saturday, Nov. 16. The simulation was undertaken in groups of three to five students and was designed to give students insight into the financial stock market and see how it operates over the course of a single year. Teams were given one million mock dollars to invest and were required to make use of real market data to forecast prices and make the best investments possible. The day was divided into four quarters, each representing one quarter of the stock market’s fiscal year.
After the simulation was completed and reviewed, the winning team received a cash prize of $1,250, while the second and third place teams received $500 and $250 respectively. This year the winning team was The Stable Studs, comprised of Parker Payette, Jeffrey Finch, Jim Guest, and Michael Legge.
Not only did students gain valuable experience with the stock market, they also had the opportunity to network with like-minded individuals from all over Canada. This year, the conference hosted over 100 students from across the country. While the majority of attendees were from the U of G, students from as far as British Columbia’s Kwantlen Polytechnic University attended the conference.
Co-Chairman of the EFA, Juan Salguero, said:
“In order to participate, delegates had to submit their resumes; and those who were selected did so because they showed an interest in the field. A finance major is not required; in fact we had delegates whose majors included statistics, math, science, and arts.”
By making connections with sponsors, the EFA was able to invite industry professionals and corporate representatives to speak with the students about prominent topics in the financial sector. Delegates were given the opportunity to listen to keynote speakers at the Saturday luncheon and again at the banquet dinner.
While the fourth year of the conference has successfully passed, the EFA is continually seeking ways to improve the conference and increase participation in upcoming years. Aiming to attract students from more diverse backgrounds, potentially at an international level, Salguero hopes the conference can “create exposure to our university, and see it recognized among other great universities.”
The annual conference also proved beneficial to organizations within the University of Guelph. University sponsors such as the Co-operators Centre for Business and Social Entrepreneurship (CBaSE) took advantage of event to market themselves to students from other institutions and other businesses.
The EFA works throughout the year to encourage finance-minded individuals to share their passion with others. The conference encourages students to expand their financial knowledge and network with peers and industry professionals.