ICAP and Markit Interns Compete in Trading Competition
London and New York, 21 July 2011 –ICAP, the world’s premier interdealer broker and Markit, a leading, global financial information services company, today announced a trading competition open to all their interns. The competition is being staged on Markit Trading Academy’s financial trading simulator, providing interns with experience in trading and risk management in a consequence-free environment.
More than eighty interns in London and New York are going head-to-head in the four-week competition. The interns will trade using real-time price data and aim to make as much profit as possible. Their trading behaviour will be analysed using proprietary metrics. The Markit and ICAP interns who have generated the greatest profits at the end of the competition will be crowned winners and will each receive an Apple iPad 2. Results will be announced on Wednesday 27 July.
All participants will receive feedback on their performance, trading aptitude and good and bad habits. An important element of the feedback will revolve around trading patterns and effective risk management strategies.
Lance Uggla, CEO of Markit, said: “The competition is a great opportunity to introduce our interns to the world of trading and the competitive nature of the business. The platform gives them the opportunity to develop a profitable strategy while managing risk effectively. This is a great venture and we are excited to see how everyone performs.”
Michael Spencer, Group CEO of ICAP, said: “ICAP is the world’s premier interdealer broker and provider of post trade risk and information services, connecting buyers and sellers in the world’s financial markets. ICAP’s range of structured internships and placements allow students to experience our business and culture first hand as an active member of our team.”
Brigitte Traffor Director of Corporate Affairs +44 (0) 20 7050 7103
Alexandra Umpleb Head of Media Relations +44 (0) 20 7050 7104
Alex Dee Head of Investor Relations +44 (0) 20 7050 7123
Rachel Harling Associate, Corporate Communications +44 (0)20 7064 6283
ICAP is the world’s premier interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, emerging markets, equities and equity derivatives through voice and electronic networks. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com
Markit is a leading, global financial information services company with over 2,200 employees. The company provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operational efficiency. Its client base includes the most significant institutional participants in the financial market place. For more information please see www.markit.com For more information on Markit’s Summer Internship programme, please visit: http://www.markit.com/en/careers/london-summer-tech-intern-2011.page