Apex:E3, ConsenSys Mesh, Coinbase Pro, SIX Digital Exchange, LMAX Digital, and FTX have joined forces to organize an algorithmic cryptocurrency trading competition for undergraduate students of Oxford and Cambridge University. The competition is aimed at motivating students to develop a highly productive crypto trading system, according to a press release on November 25, 2020.
Algorithmic Crypto Trading
APEX:E3, a provider of multi-asset cryptocurrency analytics tools for retail and institutional investors, has joined forces with top players in the digital currency and blockchain technology industry including ConsenSys Mesh, Coinbase, FTX, SIX Digital Exchange and LMAX Digital, to launch an algorithmic crypto trading competition for Oxford and Cambridge undergrads.
As stated in a press release, the month-long bitcoin (BTC) and altcoin trading exercise which is scheduled to run until December 2020, will see the students from the Mathematics and Computer Science departments at both universities tap the tools of APEX:E3 to develop the most productive and efficient trading system and use it to win the challenge.
Specifically, there will be fifteen teams in total and they are required to formulate algorithms using the APEX:E3 API and execute spot market trades on Coinbase Pro and FTX.
Winner Takes All
The firm has made it clear that the participants will be required to build trading algorithms that can carry out arbitrage trading, predict market movements via neural networks trained on historic data, momentum-driven strategies, trend investing based on time sequence forecasting using deep learning models and high-frequency momentum trading on volatile digital assets.
Importantly, participating teams will be accessed by a panel of experts in the crypto industry based on the return on investment generated by their trading systems, trading strategy, and the technicality of their algorithm design.
The organizers will provide trading capital to participants and the winning team will keep the entire profit made from the exercise plus the initial seed capital.
Commenting on the initiative, Usman Khan, CEO of APEX:E3 expressed his excitement over the level of enthusiasm shown by participants, adding that the firm will expand the scope of the project and the number of participating universities next year.
Tim Grant, CEO, SIX Digital Exchange said:
“The evolution of capital markets in the 2020s will require new levels of innovation and progress in the areas of digital and of the analytical techniques operating on the underlying digital asset data. It is crucial to raise talent to help drive this evolution.”
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