First Computational Finance Competition Ended with a Great Success

WAN CHAI, Hong Kong - Aug. 23, 2017 - PRLog -- The First Computational Finance Competition (the "Competition") jointly organized by Hong Kong based Global eSolutions (HK) Limited ("GES"), a leading financial trading platform provider, and the IEEE (Hong Kong) Computational Intelligence Chapter (IEEE (HK) CI Chapter) is completed with a great success. The Competition is held for students from universities in Hong Kong to foster the pursuit of algo trading among university students. The Competition has received an overwhelming response of entries, with more than 60 participants in 35 teams. All stages of the competition have been ended on 11 August 2017. The Award Presentation and Closing Ceremony will be held at the Lecture Theatre A, Chow Yei Ching Building, The University of Hong Kong on 26August 2017.

During the Competition, all participants were required to use the Auton trading platform, a financial trading software developed and provided by GES, for algo development and backtesting with historical data in stage 1. Qualified participants executed virtual trading by live data on the Auton platform in stage 2 during 3 July 2017 to 11 August 2017. Every participant would use algo strategies to trade on CFDs of 50 Hang Seng Index Constituent Stocks and several major indices with a simulated capital of HK$1 million.

The Award Presentation and Closing Ceremony will be held at the Lecture Theatre A, Chow Yei Ching Building, the University of Hong Kong from 3:30pm to 5:30pm on 26August 2017. Apart from an award presentation, there will be speeches delivered by several guests, including Professor Edward P.K. Tsang, the School of Computer Science & Electronic Engineering, University of Essex and Dr. Kadoo Yuen, Research Analyst of GES, who will share their research and insights on computational finance and algo trading. We welcome all contestants and the public to join this remarkable event.

Mr. Ken So, Senior Quantitative Developer of GES, said, "Although Hong Kong is known to be an international financial hub, its development and application of innovative technology such as algo trading and artificial intelligence in the financial industry still falls behind the capital markets in Europe and the United States. One significant advantage of algo trading is automation, which leads to a relatively rational trading behavior. Any pre-setting trading strategies can be automatically executed in specified time, price and trading volume through computer, avoiding irrational decisions made by manual trading. GES and IEEE (HK) CI Chapter jointly organized this competition in order to allow university students to experience true algo trading, nurturing the next generation of Fintech talents and promoting the development of innovative technology in Hong Kong investment market."

Auton serves as a virtual trading platform in this Competition and is a truly multi-asset platform which supports FX, Bullion, CFDs, Equities, Futures and Stock Options. Its built-in algo trading kit allows traders to deploy existing trading strategies or script their own one in the platform. By allowing algo backtesting and forward-testing with historical data and live data respectively, Auton helps traders to develop the unique trading strategy that will work best for them.

About the First Computational Finance Competition

This first Computational Finance Competition was organized by GES and IEEE (Hong Kong) Computational Intelligence Chapter ("IEEE (HK) CI Chapter"), which invited undergraduates and postgraduates students from renowned universities in Hong Kong to foster the pursuit of algo trading among university students in Hong Kong. It was initiated with a vision to promote the use of Computational Intelligence in the area of finance, identify algo trading talents at top universities and provide top performers with potential career opportunities.

About IEEE

The IEEE is the world's largest professional organization dedicated to advancing technological innovation and excellence for the benefit of humanity, with more than 430,000 members in over 160 countries. Through its highly cited publications, conferences, technology standards, and professional and educational activities, the IEEE is the trusted voice on a wide variety of areas ranging from aerospace systems, computers, and telecommunications to biomedical engineering, electric power, and consumer electronics. Learn more at http://www.ieee.org.

About GES

Global eSolutions (HK) Limited ("GES") is a global leading IT service provider dedicated in financial technologies for more than 10 years. GES empowers financial institutions with algo-trading capability, advanced risk management and FIX bridging solutions. GES fully covers the needs of the on-floor trading and OTC markets, with value-added services ranging from IT technical support, system integration, bespoke software and network infrastructure development to hosting services. With GES technologies, financial institutions are able to overcome the challenges of risk management, position management, liquidity source and trading across different financial instruments in a single platform. GES's well established partnering with top-tier financial institutions and prime brokerage firms can fulfill customers' needs of liquidity and market depth. GES ensures the highest level of certainty and satisfaction through comprehensive industry expertise and a deep-set commitment to customers.

For further information, please visit our website: www.ges.com.hk