Graduate students from Portugal at work in UD's Exelon Trading Center.

Global finance

Lerner College hosts international graduate students in markets trading program

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11:52 a.m., March 15, 2012--A unique partnership between the University of Delaware's Alfred Lerner College of Business and Economics and the Lisbon University Institute (ISCTE-IUL) recently brought a group of master’s students from Portugal to the United States to participate in a microstructure and trading program designed to offer training in market structures, Bloomberg usage and more.

Over the course of two weeks in January, the graduate students attended lectures and exercises led by UD faculty to learn the terminology and economics of dealer markets, the relationship of market structure and liquidity, market fragmentation and liquidity effects on asset pricing.

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Paul Laux, professor in the Department of Finance and director of the UD-ISCTE program, said the partnership offers an opportunity for the Lerner College and the department to grow in a new direction while providing an educational outlet for master’s students.

“Faculty versed in market structure and trading, combined with our Exelon Trading lab and exceptional Bloomberg Analytics access, allows us to leverage some of the distinctive resources of the Lerner College to help a client outside our home region prepare students for the global job market in finance,” said Laux. “Programs like this are essential to the healthy growth of our school, and I look forward to offering future sessions.”

In addition to lectures, students had the unique opportunity to gain training in Bloomberg usage under the direction of Rich Jakotowicz, director of the Exelon Trading Center (ETC).

Jakotowicz, who is also an instructor in the Department of Finance, guided students through equities, derivatives, the Bloomberg API, FX and fixed income during sessions at the ETC, a hands-on, discovery-based learning facility that replicates a trading floor and incorporates computer software, networks and market data feeds found in financial institutions throughout the world.

Bruce Weber, dean of the Lerner College, also delivered educational sessions over the course of the program and noted he enjoyed being back in the classroom.

“International finance is increasingly complex, and one group of European graduate students chose Lerner College as the place to extend their knowledge and unravel the mysteries of today's markets,” said Weber. “This was an eager and committed group of students who clearly applied themselves in the market structure and trading simulations. Immersive, international programs such as this enhance the Lerner College profile and exemplify 'Global Initiative' in UD’s Path to Prominence. I’m looking forward to the 2013 version.” 

Beyond the educational components of the program, students had a unique lodging experience at The INNternationale, a privately operated living-learning center on UD’s Newark campus.

Students were also immersed in East Coast business culture, with visits to financial firms in New York, including Morgan Stanley’s capital markets area, Bloomberg facilities and the trading floor of the New York Stock Exchange; and in Philadelphia, including the energy trading floor at Exelon and SEI, Inc., a large wealth management firm.

All students received a University certificate upon successful completion of the two-week program.

Article by Kathryn Meier

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