Trading floor training for MFE students

[Andy]

Prof. Richard Holowczak, PhD, Director of Subotnick Trading Floor at Baruch College will run a special training session for MFE students on 4/26. Instead of PDE class, we will have this special lecture on the trading floor that day. More details will be announced by Prof. Stefanica
As of now, there are several topics Prof. Holowczak would like to present to us but he is open to any special topics we like to learn.
Current topics are develpment of trading software using Interactive Brokers, Bloomberg, Reuters API, use Powerplus Pro to price instruments
Please post here if you have something in mind. The trading floor with its live market feed will be reserved for our use during the workshop.

I'd like to use the tools there to learn more about Forex market.

[alain]

Andy, do you know at what time the class is going to be?

[Andy]

Andy, do you know at what time the class is going to be?
This will take place instead of our regular PDE class so it will be the same schedule except for the change of room and topic. Everyone taking the PDE course is expected to be there.

[alain]

Are we going to cover only interaction with the different systems?

I would like to see some kind of seminar about Trading Algorithms, entries, exits, that type of thing. It would be would to get some high and low level ideas. Some us have some experience but it is always good to learn something new or different.

[Andy]

I would like to learn how to write Excel/VBA programs to backtest using the data at the trading floor. Gus did lot of backtesting for his strategy while we haven't done enough.

[Bridgett]

I also would like to learn about forex and possibly some basic things about carry trade.

[rholowczak]

Folks:
A few quick comments / suggestions.
First up - In speaking to a few of you over the last couple of weeks, it would appear there
is a misconception that the Wasserman Trading Floor and Subotnick Center's resources
are somehow reserved for use only by Zicklin students. This is definitely NOT the case!
This was never the intention as far I am concerned. So please consider the Center's
resources your resources.

We host a series of workshops at the Wasserman Trading Floor that are free and open
to any Baruch student. You may find a schedule of those workshops here:
http://newman.baruch.cuny.edu/services/workshops/

If you see a workshop you would like to attend but it is "closed", please
e-mail me (at my baruch.cuny.edu address) and I will get you in.

All of the handouts for our Workshops are posted on Blackboard. To download
them you will need to join the Wasserman Trading Floor "Community" on
Blackboard. Here are the instructions for that 2-minute process:
http://zicklin.baruch.cuny.edu/centers/subotnick/resources/tutorials-and-user-s-guides/

In most cases, when we write the workshop handouts, I try and make it so that students
can follow the material on their own should they care to. So for example, in the workshop handout "Analyzing and Monitoring Foreign Exchange Markets using Reuters 3000 Xtra and
PowerPlus Pro" you can read about the basics of the FX Spot and forward markets (in terms
of how they function and what they are used for), learn how to use the Reuters system to
access spot and forward FX quotes (as well as a host of FX and interest rate derivatives
market data), and finally learn how to bring this data into MS Excel (that's the PowerPlus
Pro part) to build models such as triangular arbitrage and covered interest arbitrage
(note that CIA is one way to conceptualize what goes on in the carry trade).

As you go through these materials (and/or attend the workshops) if you have additional
questions or comments/suggestions on improvements I would be happy to hear from you.

Cheers,


Prof .H.

[Bridgett]

Thank you for your helpful insights, Professor Holowczak!

[maxrum]

I also would like to learn about forex and possibly some basic things about carry trade.


Here is a pretty deep article on The Yen Carry Trade.
http://www.marketthoughts.com/z20060921.html


It is estimated that as much as one trillion USD may be involved on the yen carry trade, as of early 2007.

[Bridgett]

Thanks, Max -- it seems that you always have good articles to recommend!! :thumbsup:

[Andy]

I also need to note that Prof. Holowczak showed me the back room behind the trading floor. I always thought it's some kind of operational, private "member-only" room but he was quick to say that it's open to all students, specially MFE students.

You have 2 dozen terminals in there with the same kind of software as on the trading floor. This would be ideal for us to develop some trading strategy there. We can use it as our study room if need be.

[Christian]

I also need to note that Prof. Holowczak showed me the back room behind the trading floor.

You mean the Baruch "boiler room?"

[Andy]

You mean the Baruch "boiler room?"
I'm not sure of what kind of shaky bonds you cold-called your clients from that room so I'll not call it "boiler room" just yet. ;)
Hopefully we can get together in that room some time this summer and investigate more about the market. I'll need lot of help from your technical analysis expertise, Christian.
If we can come up with something good there, I'll call it "boiler room" :)

[Christian]

It's the "donation boiler room." I meet in there every week for our Portfolio Management Club meetings, and I can't help feeling like I'm sitting in the JT Marlin office.

I'll definitely help with the technical analysis, let me know when you want to meet up. I'm sure we can both teach each other a lot in our respective areas of interest.

I'm really happy that so many people are liking the articles. I've really gotten some good responses, and even had people tell me that they are making money from these techniques. I feel like a mother watching her baby take its first step. Heartwarming.. :)

[Bridgett]

A reminder... more questions or suggestions?

[Andy]

I like to get some quick introduction on Bloomberg API and Reuters API. I also like to see a quick intro on how to use Excel to interface with those datafeed to get market data.

[alain]

It's the "donation boiler room." I meet in there every week for our Portfolio Management Club meetings, and I can't help feeling like I'm sitting in the JT Marlin office.

I'll definitely help with the technical analysis, let me know when you want to meet up. I'm sure we can both teach each other a lot in our respective areas of interest.

I'm really happy that so many people are liking the articles. I've really gotten some good responses, and even had people tell me that they are making money from these techniques. I feel like a mother watching her baby take its first step. Heartwarming.. :)

is there a "Portfolio Management Club? When can I join? where?

[RussianMike]

I like to get some quick introduction on Bloomberg API and Reuters API. I also like to see a quick intro on how to use Excel to interface with those datafeed to get market data.

dynamic-data linking. I dont utilize it fully at work b/c our systems are old but its great. Reuters has a great way to interface with Excel.

[rholowczak]

Folks:
I just posted a thread giving a basic intro to the Wasserman Trading Floor / Subotnick Center resources. It would be great if you all could read that prior to Thursday's class session.
http://www.quantnet.org/forum/showthread.php?t=1122

Cheers,

Prof. H.

[Andy]

A reminder that tomorrow class will be held on the trading floor at 6pm

[rholowczak]

Folks:
It was a pleasure meeting you all and working with you this evening.
I do hope that your learned something new and also had some fun!

For better or worse I am posting the results of our last trading run
below.

For those of you interested in exploring this kind of event further,
let me know if/when you can get 20 or more students together and
I would be happy to run it again for you. We could do the same equity
trading case or try the fixed income or a derivatives case.

Cheers,


Prof. H.

[Hien]

Folks:
It was a pleasure meeting you all and working with you this evening.
I do hope that your learned something new and also had some fun!

For better or worse I am posting the results of our last trading run
below.

For those of you interested in exploring this kind of event further,
let me know if/when you can get 20 or more students together and
I would be happy to run it again for you. We could do the same equity
trading case or try the fixed income or a derivatives case.

Cheers,


Prof. H.

Thank you very much Professor Holowczak it was very fun and interesting.:thumbsup:

I'd be interested in both the fixed income & derivatives sessions!

[alain]

Thanks Prof. H.

I had a lot of fun tonight. I'm looking forward to another trading session.

[Yusheng]

It's was so great. I am really looking forward to the similar events.
Thanks a lot, Prof. Holowczak.

[Andy]

Thanks for the setting the banquet, Prof. H. It's so nice of you.
The night was lot of fun. Learn new things today.

Who is baruchquant, please stand up ? ;)

[Yusheng]

Who is baruchquant, please stand up ? ;)

Is that Prof. Stefanica?;)

[Andy]

Is that Prof. Stefanica?;)
Wishful thinking, but no. I know where he stands. :D

[luso]

I wasn't able to make it tonight due to my conflicting class schedule.
Is there any material being distributed during the time?
If so, can anyone share?
Thanks
-A/C

[Yan He]

Thanks for Prof. Holowczak, I had great fun tonight and learnt sth new tonight...(not made that much negative money thought) !

[Vlad]

Thank you Prof. Holowczak. Nice class.