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OptionsCity Freeway powers University of Chicago trading competition

First Published 26th February 2013

Freeway software to serve as sole automated trading platform for students in competition

Hazem Dawani, CEO, OptionsCity

Hazem Dawani, CEO, OptionsCity

"We look forward to working with this group of nationally recognized students from top universities who will become the future contributors and leaders of the financial industry."

Chicago - OptionsCity Software is to contribute to the University of Chicago Midwest Trading Competition taking place April 12-13 at the Gleacher Center. The firm's Freeway software will serve as the sole automated trading platform for students to develop algorithmic strategies and execute mock trades.

"We are delighted to partner with University of Chicago in their inaugural trading competition," remarked Hazem Dawani, CEO of OptionsCity. "We look forward to working with this group of nationally recognized students from top universities who will become the future contributors and leaders of the financial industry."

"In order to make this event a reality, we needed a platform that could handle advanced algorithmic trading, as opposed to other competitions that only incorporate open-outcry, point and click trading, and basic modeling in excel," remarked Darrell Zechman, Program Director at the UChicago Careers in Business: Financial Markets. "After comparing other potential platforms it was quite obvious OptionsCity Freeway platform hit on all the right buttons."

Around 25 teams from all over the country will compete for best P/L by navigating cases which will include simulated algo trading in E-mini S&P 500 options on futures, CME gold and silver futures, and ETF's, requiring technical development skills in the form of algorithm creation and sound decision-making skills to recognize when an algorithm is not working.

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