Investors & Entrepreneurs Society Win Bank Of Ireland FX Trade-Off
As the semester draws to a close, many societies are slowing down to focus on exams and enjoy their winter break. UCD’s business and marketing-oriented societies, however, remain as busy as ever, with the Investors & Entrepreneurs society taking home gold in Bank of Irelands annual FX Trade-Off competition. The contest, which BOI says “was established to encourage participation and knowledge of global FX markets among third level students”, saw students engage on a simulated trade market, with over 20,000 trades made. BOI states that “It is a replica of real financial markets, with costs incurred to the demo account for commissions, fees, slippage and foreign exchange spreads when the students place trades”.
The society saw a huge 38% average return from their top 10 traders, while also having the largest amount of engaged traders, making up a large portion of the overall competition. I&E had previously won the 2018 iteration of the competition, making this their second consecutive win.
Ryan Swift, Auditor of the society, spoke on the win: “We’re delighted to win the FX Trade Off for the second consecutive year. Bank of Ireland are one of our main sponsors, and the Trade Off competition is always a great way for students interested in trading and investing to test themselves. Last year, the €10k prize money was used to launch exciting new Society programs like our Startathon and Women in Business Breakthrough Bubble, and I’m looking forward to seeing how we can put this year’s winnings to good use.”
Alongside this, UCD student Robin Twist placed second overall and receiving both a cash prize and internship with Global Markets. Luke Harris and Cian Percival took third and fourth respectively and UCD’s Commerce & Economics society took home 7th place. UCD Societies wish to offer their congratulations to all UCD students who took part and represented the university in the competition.