Oxford and Cambridge universities (departments of mathematics and computer science) are competing to build crypto trading algorithms on major exchanges Coinbase Pro and FTX.
It has been reported that the 15 teams will be assessed on their trading strategies, the technical design of their algorithms, and their overall return on investment. The competition launched on November 16 and will run until December 16.
However, the strategies employed include arbitrage, predictions based on machine learning and neural networks, and trend investing based on time-sequence forecasting.
APEX:E3 is the contest’s principal sponsor, with the institutional analytics firm providing access to its APIs, mentorship, technical support, and an undisclosed sum of seed funding to each competitor. Only the winning team will keep their seed capital and profits.
The report said that crypto exchanges Coinbase, FTX, SIX Digital Exchange, and LMAX Digital, along with Ethereum software developer ConsenSys have also partnered to support the competition.
Likewise, Quentin Stafford-Fraser of the University of Cambridge’s computer science department described the tournament as a risk-free opportunity for students to put their algorithms to the test in real-life markets.
“APEX:E3 has created a fun and risk-free way for students to learn about the [algorithmic trading] industry and bring their creativity and expertise to bear on the particular challenges of this domain.”
Thus, Usman Khan, the Chief Executive of APEX:E3, indicated the firm plans to make the tournament an annual event, adding he hopes to expand the number of participating universities in 2021.