Matheson now home to mock stock trading floor
Alexa Bonacquisti
Issue date: 10/14/05 Section: News
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LCoB Dean George Tsetsekos announced in fall 2004 the plans for a brand new electronic trading facility to be built in Matheson Hall. The existing computer lab was demolished and construction for the new financial trading lab was conducted in spring and summer 2005. The trading lab, designed to emulate a real financial trading market, is almost complete and is located on the first floor of Matheson Hall.
The facility will serve a dual purpose both as a computer lab that all students can utilize and as a trading lab specifically geared towards those students studying finance. Modeling the concept pioneered by other universities, the University will open the lab with the intent to provide students a real depiction of how the finance market works.
"The idea is for the students to learn how to invest in financial markets real-time, with real resources - real money," Tsetsekos explained.
The goal is to raise $1 million from the initial funds through various investments. The University's Board of Trustees provided an original endowment, but through the support of alumni, other donations will supplement the Trustee's contribution. The money will be placed in a newly created DragonFund that will be managed by a student investment club and operate under faculty guidance.
Tsetsekos stressed that while the lab will be a valuable learning tool, "it is definitely not going to be a high-risk kind of exposure because we want to safeguard that fund." The generosity of outside companies, namely IBM and Trans-Lux, which provided the equipment support and the electronic display information ticker, respectively, has also been a big part of the lab's technologically advanced design. Tsetsekos stated that, the new lab will boast the largest information ticker of any business school trading lab.
The success of the lab will also be dependent upon student and faculty involvement and to ensure cooperation, Tsetsekos sought the advice of finance professors. The professors will incorporate the lab simulation into their classroom to show students realtime financial markets.
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