EghtesadOnline: The second edition of the competition known as ‘League of Stock Market Stars’, held by the Securities and Exchange Organization of Iran, opened on 7 July.
Saeed Fallahpour, the SEO deputy for supervision of financial institutions, and Mostafa Razavi, deputy for executive affairs attended.
The event was organized with the aim of helping elevate financial literacy, groom financial managers, promote entrepreneurship and connect academia to the stock markets.
“Finance students are supposed to become familiar with and active in the capital market in their early years and this event can and should act as a platform for practical training,” Financial Tribune quoted Fallahpour as saying.
According to officials, 15 of the participants were recruited last year by financial institutions soon after the event.
Unlike last year when only universities from Tehran Province were invited, this year’s competition is hosting 30 universities from across the country.
Each team representing the Iranian universities comprising five members, under a single university flag, has a leader who must be a financial expert with capital market background or a finance-related PhD student.
Participants can keep any gained profit for stocks trading, and the losses will be covered by the sponsors. However, a team will be removed from the tournament if their portfolio loses 25% of their initial credit.
The first three teams will be awarded 250, 150 and 100 million rials respectively. Bank Ayandeh Brokerage Firm and Novin Investment bank sponsored the event and allocated the initial credit to each team.
There are adjustments to spice up the competition, e.g. almost all trading instruments are permissible, even trading on companies registered in Iran Fara Bourse’s base market as well as derivatives. The event’s duration is also doubled to two months and each team is given five million rials worth of credit to trade with – five times more than last year.
The trades are real time, so traders are obliged to comply with all rules and regulations. Moreover, a referee committee comprised of representatives from IFB, Tehran Stock Exchange, SEO, and the sponsors, headed by the Surveillance Department of the SEO, will monitor and scrutinize trading strategies. The teams are not simply allowed to employ speculative strategies.
The details and a complete set of rules for the event can be found on its designated website at starleague.ir.