At a recent financial trading simulation competition held for RMIT Vietnam students, Nguyen Thua Duc Anh made thousands of dollars trading stocks.
Although the financial rewards weren’t real, the practical experience the Bachelor of Business (Economics and Finance) student took away was.
The financial trading simulation competition took place in RMIT Vietnam’s new Financial Trading Lab (FTL), a state-of-the art classroom facility that replicates a real-world trading room.
The organisers challenged students to create a portfolio that would yield the highest returns.
When asked about his outstanding performance in the competition, Anh said nobody can predict the market so success depends on the individual, and what you decide to buy or sell or hold.
“And that relates to the research you do on the company you’re buying stock in,” he said.
This need for real-world business know-how is where the FTL’s trading simulation software comes in.
The software allows students to find and analyse real-time information on companies and countries.
Anh explained the software helps to compare your portfolio with a benchmark, such as the Dow Jones.
“It also has lots of financial analysis tools for you to make sense of information about the company,” he said.
“If you believe the company will perform well in the future, then you buy it.”
For Economics and Finance Lecturer Jean-Paul Vega, the true value of the FTL is its ability to prepare students for the workforce.
“We want to deliver not only theory but also practical experience” Mr Vega said.
“The system is what the professionals are currently using in the business world.
“So when students graduate, they will already be familiar with the tools and work-ready.”
Students can also learn valuable global skills in the lab.
“This is world-class technology in Vietnam,” he said.
“The lab setup here is mostly the same as at the Massachusetts Institute of Technology (MIT), where the same financial data software from Reuters is used."
“You can search companies and countries from around the world, but we’ve customised it with more information and analysis from Vietnam and ASEAN.”
Lecturers have already gone to Melbourne for training on incorporating the FTL into their classes.
RMIT Vietnam Economics and Finance students will begin using the FTL in semester 2, 2015.