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by providing interactive classroom simulations. The system is characterised by the simplicity and user-friendliness of its user-interface, with functionality limited to the absolute essentials (order entry and cancellation). The number of securities which can be traded in one session is limited to three (an equity, an option and a futures contract). Students with knowledge of the mechanics of a limit order book will find the system intuitive to use within 5-10 minutes of commencement. The software is web-enabled and can be accessed on any Internet-connected platform without the need to install any software. TrADeLab replays a trading session using real historical data, and allows subjects to submit orders and interact with the market. Under the control of an instructor, datasets for different "games" can be loaded. An instructor's manual accompanies the software and describes the games in the context of an educational application (either trade execution, arbitrage or dealing).
The software is constructed in modular fashion to allow maximum flexibility. The client software is accessible through an Internet Browser which interacts with an application server deployed on the Web. The Trading Engine is developed in C++ for maximum performance. It includes a separate Market Simulator for handling different datasets. The system is well supported by a number of administrative functions for the creation of games, trading sessions, classes and the management of instructor and student accounts. View the promo Video
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TrADeLab (Trade execution, Arbitrage and Dealing Laboratory) is a web-delivered software system that allows students to practice their understanding of the theory and practice of:
Each of the games aims to expose students to a course of trading from history (e.g. trading in a particular stock for a day in which there was an information announcement) whilst they are attempting to execute trades, arbitrage or deal. A set of instructions accompanies each game, which include educational objectives (e.g. to get students to understand VWAP strategies), information about the day of data to be used in the game (stock, date, peculiarities of the day) and a short assignment question which students will answer at the conclusion of each game, and which requires students to analyse their trades and quotes, and explain them in relation to theory and practice.