fantasyfutures.net In FantasyFutures, J.P. Morgan’s online trading competition, college and MBA students transact make-believe trades. Recently, five of the game’s weekly winners got to meet J.P. Morgan traders who do it for real.
To reward their success, the weekly winners recently met with Matt Zames, head of North America Liquid Rates Trading, who, in a wide-ranging discussion over lunch, shared his career history, answered questions about how the markets work, discussed the economy’s real world impact on trading decisions, and described a trader’s day.
Zames advised the students it was important to have the basic academic skills, but noted the importance of having “street smarts”, the ability to relate what’s happening in the economy with how that might influence market conditions looking forward. He also said that while the firm focuses on a core group of schools, he values the perspectives that can come from graduates with backgrounds from diverse schools.
In response to their questions, he said that traders needed to be at their desks early, and that it was deservedly known for being a fast-paced environment. After their one-on-one meeting, the students toured the company’s trading floors and talked to other traders about their jobs.
Approximately 1,200 students participated in FantasyFutures during its seven-week run. By playing the game, undergrad and MBA students track global markets and take risks over seven weeks in a simulated futures trading account. The firm provides entrants with useful material, such as background on how markets work, a primer on trading futures and a financial glossary. The game was also played by 1,400 students this fall across EMEA (Europe, Middle East, Africa), where the original concept started.
“The idea behind FantasyFutures is to differentiate J.P. Morgan on campuses, to attract attention and build recognition for our exceptional markets programs and to give students a chance to learn about the markets in a simulated environment,” said Deb Korb, manager of North America Campus Marketing for the Investment Bank.
According to the students, they enjoyed playing. As Will Lamb, a Fairfield University freshman, said, FantasyFutures was “phat”, adding that he knew of no other firm that offers anything similar. “It was definitely a learning experience,” said Robert Kalwarowsky, a Massachusetts Institute of Technology student. Lamb said he surprised himself with how well he did. “When I kept going up, it didn’t seem possible,” he said.
Other weekly winners visiting J.P. Morgan were: Jay Viswanathan, from Northwestern’s Kellogg School of Management; Jian Chen, Columbia Business School; and Vitaly Gnatyuk, University of Tennessee. Scott Miller, from Cornell University’s Johnson Graduate School of Management, another weekly winner, was unable to attend. As the overall winner, Ming Fan, a second-year MBA student from the NYU Stern School of Business, won a trip to the upcoming Grammy Awards. Fan said "It is great to become the grand prize winner. I think it's a very good opportunity for people who want to get into this industry, and it’s a good way to have practice in a simulated environment and gain experience. I look forward to playing again."
Aside from drawing attention to the firm on campuses, the game also helps identify students with an aptitude for trading and who might be candidates for employment when they graduate. That being the case, the recent crop of winning contestants were playing with "fantasy futures", but their personal futures are bright.
To learn more about the game, visit fantasyfutures.net.