Win an iPod with Creditflux Credit Trading Game
This simulation of a real-life credit trading environment allows everyone from bank risk manager to senior legal partner prove their skills in our simplified version of the credit derivatives market.
All trades are in rolling maturities of five years, so there is no effect from duration shortening, and there are no cash bonds, so all trading is through credit default swaps. But while that means that several popular real world strategies, such as curve trades and basis trades, are out of bounds, there are still plenty of fantasy trades to put on, with 150 of the biggest US, European and Asian single names as well as several credit indices available.
Again, for the sake of simplicity, all trades take place in a single currency (exchange rates will be notionally fixed for the duration of the game). Margin is a little less onerous than you might expect in the real-world: currently it is at a fixed 10% of the notional of all trades. But some aspects of the game are all too real. If a position move against you and wipes out your collateral, you are out.
On top of the kudos and satisfaction of winning Creditflux’s trading game, the top five traders will also receive a prize of an Apple iPod Touch 16GB media player. The winners will be those who have generated the greatest profit from a starting stake of €100,000 by 5pm UK time on 13 October.