RETC 2018

RETC 2018 – Cases

SOCIAL OUTCRY

The opening event of the competition gives participants their first opportunity to make an impression on sponsors, faculty members, and other teams in this fun introduction to the Rotman European Trading Competition. Each participant trades against one another as well as faculty and experienced professionals from industry, trying to make his/her case and showcasing his/her outcry skills by making fast and loud trading decisions.

QUANTITATIVE OUTCRY CASE

Building on the experience of the frantic Social Outcry Case market, this case requires teams to optimize their trading, analytical, and risk management skills. Participants will use news releases that provide quantitative economic forecasts, as well as qualitative micro and macro data, to predict the futures market on the RT100 index. Analyzing macroeconomic indicators, participants should be able to gain an understanding of the impact of the factors on the index and generate profitable trades.

ENEL ELECTRICITY CASE

The Enel Electricity Case challenges the ability of participants to interact with one another in a closed supply and demand market for electricity. Electricity production and its consumption will form the framework for participants to engage in direct trade to meet one another’s objectives. The case will test each individual’s ability to understand sophisticated market dynamics and optimally perform his/her role, while stressing teamwork and communication.

INTESA SANPAOLO LIQUIDITY RISK CASE

The Intesa Sanpaolo Liquidity Risk Case challenges participants to put their critical thinking and analytical abilities to the test in an environment that requires them to evaluate the liquidity risk associated with different tender offers. Participants will be faced with multiple tender offers requiring participants to make rapid judgments on the profitability and subsequent execution of these offers. Profits can be generated by taking advantage of price premiums and discounts associated with large tender offers compared to the market.

CREDIT RISK CASE

The Credit Risk Case challenges participants to build and apply a credit risk model in a simulation where corporate bonds are traded. Participants will use both a Structural Model and the Altman ZScore to predict potential changes to companies’ credit ratings. Periodic news updates will compel participants to make appropriate adjustments to the assumptions in their models and rebalance their portfolios accordingly. This case tests participants’ abilities to develop a credit risk model, assess the impact of news releases on credit risk, and execute trading strategies accordingly to profit from mispricing opportunities.

EIB INTEREST RATE CASE

The EIB Interest Rate Case challenges traders’ understanding of bond pricing based on news and benchmark interest rates derived from 4 non-tradable EIB zero-coupon bonds. Traders have to price 3 tradable coupon bonds based on the benchmark rates and news. The news, released throughout the case, may have an impact on the benchmark rates, and thus also have an impact on the fair prices of the tradable coupon bonds. Traders should forecast the impact of news on the benchmark rates and exploit any bond mispricing opportunities to generate profits.

The Case Package can be downloaded here: pdf
Performance Evaluation Tool: xlsm
Scoring Methodology: pdf
Quant Outcry Tutorial: pdf

Practice Servers
Practice servers will be made available starting from July 27th. We will introduce the actual cases in a staggered manner – not all cases will be available on July 27th.

RELEASE DATES
#	Case	Release date
1	Intesa Sanpaolo Liquidity Risk Case	Friday, July 27th – 11:59pm CET
2	EIB Interest Rate Case	Saturday, July 28th – 11:59pm CET
3	Credit Risk Case	Saturday, July 28th – 11:59pm CET
4	Quantitative Outcry Case	Monday, July 30th – 11:59pm CET
5	ENEL Electricity Case	Tuesday, July 31st – 11:59pm CET

Practice servers will operate 24 hours a day 7 days a week until 5:00pm CET on Thursday, August 23rd.
Information on how to download and install the RIT Client is available on the RIT website at http://rit.rotman.utoronto.ca/software.asp.
In order to access more detailed information about instructions and guide documents for RIT, please refer to the documents here:
RIT – Client and RTD Installation Instructions
RIT – User Guide – Client Software Feature Guide
RIT – User Guide – RTD Documentation
RIT – User Guide – VBA API Documentation
RIT – User Guide – REST API Documentation
The following table lists the server IP and ports available for RETC practice environments:

SERVER IP AND PORTS
#	Case	Server IP	Port
1	Intesa Sanpaolo Liquidity Risk Case	flserver.rotman.utoronto.ca	16500
2	EIB Interest Rate Case	flserver.rotman.utoronto.ca	16510
3	Credit Risk Case	flserver.rotman.utoronto.ca	16520
4	Quantitative Outcry Case	flserver.rotman.utoronto.ca	16530
5	ENEL Electricity Case	flserver.rotman.utoronto.ca	16540

To log in to any server port, you can type in any username and password and it will automatically create an account if it does not exist. If you have forgotten your password or the username appears to be taken, simply choose a new username and password to create a new account.
We will be running four “special” practice sessions for the cases. All teams are invited and encouraged to
connect at the same time as the results will be released from each practice case.

PRACTICE SESSIONS
#	Case	Date	Time
1	ENEL Electricity Case	Tuesday, August 7th	11:59pm CET
2	All competition cases (*)	Tuesday, August 14th	4:00pm CET
3	All competition cases (*)	Thursday, August 16th	4:00pm CET
4	All competition cases (*)	Tuesday, August 21st	4:00pm CET

(*) Except for the Quantitative Outcry Case.

Students (pptx)

Emilio Barone (pdf) and Tom McCurdy (pdf): Welcome Address.

Mirella Ciaburri: Teams by distance (pptx)

Croatia | University of Zagreb

Croatia | University of Zagreb

Latvia | Stockholm School of Economics in Riga

Poland | University of Warsaw

Malta | University of Malta

Hungary | Central European University

United Kingdom | University of Edinburgh

Belgium | Solvay Brussels School of Economics and Management

Poland | University of Warsaw

Malta | University of Malta

Italy | LUISS | Volunteers

Switzerland | Zurich University of Applied Sciences

Germany | EBS Universität für Wirtschaft und Recht

Germany | EBS Universität für Wirtschaft und Recht

Italy | LUISS

Latvia | Stockholm School of Economics in Riga

Italy | LUISS | RETC

Italy | LUISS | RETC

Poland | University of Warsaw

Italy | LUISS

Finland | Aalto University

Italy | LUISS

Sweden | Mälardalen University

Alpha Gamma

Italy | LUISS | RETC

OTHER POSTS
Slovakia | University of Economics in Bratislava
https://www.linkedin.com/feed/update/urn:li:activity:6443744042193809408
Italy | Bocconi University
https://www.linkedin.com/feed/update/urn:li:activity:6443225816611459072
United Kingdom | University of Edinburgh
https://www.linkedin.com/feed/update/urn:li:activity:6442648657765502976
Lithuania | Vilnius University
https://www.linkedin.com/feed/update/urn:li:activity:6440240548451356673
Slovakia | University of Economics in Bratislava
https://www.linkedin.com/feed/update/urn:li:activity:6439261310973808641
World Federation of Young Investors
https://www.linkedin.com/feed/update/urn:li:activity:6439396808891469824