Montréal Exchange Inc. (MX), a wholly-owned subsidiary of TMX Group and Canada's derivatives exchange, today announced the launch of two financial education initiatives – the Options Trading Simulation and the Canadian Derivatives Exchange Scholars Program.
The two new programs were created to support university finance students who are interested in learning about derivatives products, as well as to support the province's university finance departments' derivatives education.
“We are excited to be launching these new programs and partnering with universities,” said Alain Miquelon, President and CEO, Montréal Exchange. “Our goal is to encourage students to learn more about the derivatives market and position MX as the centre of excellence of these highly specialized products.”
The Options Trading Simulation will allow students to form teams and construct options portfolios with an initial $100,000. The simulation runs for ten trading weeks from October 2012 through to the end of November 2012, with a winter session the following semester. Students are required to execute pre-defined trading strategies and to participate in an educational presentation.
The Canadian Derivatives Exchange Scholars Program will award one university graduate scholarship of $15,000 and one university postgraduate scholarship of $20,000 each academic year for five years. Students are required to conduct a research project on exchange-traded derivatives, financial risk management or any related topic.
The MX financial education initiatives are currently offered in seven of Quebec's universities, including ÉSG-UQÀM, HEC Montréal, McGill University, Concordia University, UQTR, Université Laval and Université de Sherbrooke, where student ambassadors are promoting the MX programs to other students and finance departments.
For more details about the Options Trading Simulation please visit m-x.ca/sim and for the Canadian Derivatives Exchange Scholars Program please visit m-x.ca/bourses.
