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West Islip students take part on Commodities Challenge Students Mike Zarrilli and Gary Bruckner represented West Islip High School along with Business Education teachers, Trish Portnoy and Patricia Morgigno, at the Hofstra-NYMEX Commodities Challenge held recently. Hofstra University and the New York Mercantile Exchange (NYMEX) developed the innovative program designed to introduce high school students to the exciting world of commodities markets and their impact on the economy and investments. NYMEX has traditionally offered the NYMEX Commodities Challenge at the college level and limited participation to the top business schools in the country. This two day event was held at the state of the art Martin B. Greenberg Trading Room, which is the only university academic trading room in the country with thirty-four Bloomberg Professional terminals. The students were given a simulated $100,000 account to use to trade the February crude oil futures contract. Working in teams of two, students competed to see which high school group could earn the highest profits. The first round involved the relatively new electronic trading. The second round involved the more traditional "open outcry" trading, which requires market participants to shout out that are then reinforced with hand signals.
All participating students and their high school teachers received certificates as well as Hofstra and NYMEX souvenirs. Ten winners in electronic and open outcry competitions received I-pods from Hofstra. Participating students and their teachers will be treated to a tour of the NYMEX trading floor in Manhattan, where they will be able to meet with actual commodities' traders and brokers.
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