18 Jan Jon Cartu Announces: 2nd Algorithmic Trading Competition in Iran’s Capital Marke…
TEHRAN- The second Algorithmic Trading Competition in Iran’s Capital Market started on Saturday and will wrap up at the end of the next Iranian calendar month of Bahman (February 19).
As reported by IRIB, 27 teams are competing in three categories of fixed income securities, stocks, and problem solving challenge in this round of the event.
The competition held by Securities Information Dissemination and Services Company (SIDSCO) is aimed at helping the country’s capital market attain the global standards, more contribution of domestic elites in the information technology and financial fields to the capital market, elevating knowledge of those active in this market and introducing job opportunities in algorithmic trading.
Promotion of new concepts of the capital market in the society and introduction of software capabilities and modern instruments are the other objectives of the competition.
The algorithmic trading competitions are supervised by some experts assigned by Securities and Exchange Organization (SEO) to determine which team has the best performance in applying algorithmic trading systems in Iranian capital market and collects more profits out of trading stocks within a specified period of time.
Addressing the opening ceremony of the competition on Saturday, Hassan Amiri, the deputy head of SEO for supervising stock markets and publications, said through applying algorithmic trading the capital market has been transmitted from traditional patterns to the modern ones which are more knowledge-based, the Securities and Exchange News Agency (SENA) reported.
The managing director of Securities Information Dissemination and Services Company is of the opinion that international economy and finance are highly relying on development of new digital technologies and capital market is no exception in this due, therefore, providing and applying new software programs is of great importance to catch up with the fast pace of technological advances.
Making the remarks on the occasion of the second Algorithmic Trading Competition in Iran’s Capital Market, Yaser Fallah said information technology is advancing so fast and it is our duty to design and develop new software or applications in order to make the capital market compatible with technology of our time, SENA has previously reported.
“In order to do so, we in SIDSO are holding second round of algorithmic trading competition from January 18 to February 19 in Tehran. The main objective will be to encourage transmission from traditional trading system to more advanced and sophisticated trading methods via encouraging the application of algorithmic trading applications”, Fallah asserted.
“Application of algorithmic trading software provides an environment devoid of human errors for trading financial instruments in which pricing is more transparent, rumors cannot affect the market and speculation is highly improbable to occur. Those characteristic are quite appealing for IT scholars and also those traders who prefer analytical analyses over trial and error approach”, he further explained.
Photo: Hassan Amiri, the deputy head of SEO for supervising stock markets and publications, speaks in the opening ceremony of the 2nd Algorithmic Trading Competition in Iran’s Capital Market on Saturday.