ID :
446709
Sun, 05/07/2017 - 12:41
Auther :

CEO of Qatar Exchange Stresses Importance of Algorithmic Trading

Doha, May 07 (QNA) - CEO of Qatar Exchange Rashid bin Ali Al Mansoori stressed the importance of Algorithmic trading as it has become an important tool used in a wide range of financial markets in the world. Al Mansoori spoke at the closing ceremony of Carnegie Mellon University in Qatar (CMU-Q) competition for Algorithmic Trading, which witnessed the participation of 12 teams and was held at Qatar Exchange headquarters. The competition included students from various specialisations who worked during its activities to develop a profitable and strategic program for trading in the financial markets. "Algorithmic trading is becoming a very important tool in the global financial markets recently, and in my opinion the competition helps to apply theory into practice and represents an important pillar of the financial eco-system", he said. "In fact, this type of competitions is a vital educational and mentoring program designed to encourage the students to learn more about trading on stock exchanges and apply the academic concepts in the real life, which will foster a culture of rational investment in the country", Al Mansoori concluded. For his part, Associate dean of CMU-Q John O'Brien noted "Algorithmic trading is becoming very important in international markets, and competitions like this are excellent preparation for young finance professionals." CEO of Mazaya Qatar Real Estate Development Company Hamad bin Ali Al Hudfa expressed his great pleasure in sponsoring the competition and awarding the prizes sponsored by the company to the winning teams. "Increasing market liquidity is a major objective of the Qatar Stock Exchange and by supporting the training of students who will work in and contribute to Qatar economy serves to help promote this important objective", he said. There were 12 teams who participated in the competition. The first place team was comprised of Faran Farooq, Muhammad Ahmed Shah, Awais Shamim. The first runner up team included Kaustubh Iyer, Maher Khan and Bisma Munawar. The Most Innovative Strategy prize went to Yijun Dong, Alfred Godwin Ravindrakumar and Zihan Zhou. (QNA)

X