Algobot to Hold Algorithm Trading Competition Jointly with Algogin and Algo Challenge Association
Hong Kong-based fintech startups AlgoBot, Algogene, and the non-profit organization Algo Challenge Association have announced the hosting of a global algorithm trading competition. The competition will focus on the Korean stock market and crypto market, with the application deadline set for the 31st of this month.
AlgoBot, Algogene, and the Algo Challenge Association are sister companies aiming to cultivate talented programmers among Korean university students and financial industry professionals to revolutionize the global financial economy through algorithmic trading. This upcoming "Global Algorithm Trading Competition" is expected to be a flagship event representing their mission.
The ultimate goal of the competition is to promote the development of the Korean financial industry by providing a platform where anyone worldwide can showcase their algorithmic trading skills. Held in Korea, the competition targets global participants and will be conducted as a tournament where contestants compete in real-time simulated investments using algorithmic trading strategies. Through this process, programming talents within the Korean market are expected to be discovered, fostering active knowledge exchange on algorithm development.
The organizers stated that, driven by a commitment to lead industrial innovation, they have created an opportunity for participants to demonstrate their coding abilities. Additionally, outstanding performers in the competition are expected to receive employment opportunities along with prize money totaling up to 1,800 US dollars.
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Meanwhile, the Algo Challenge Association, founded by AlgoBot CEO Rex Tsang, is a non-profit organization dedicated to discovering talent and creating jobs to grow algorithmic trading on a global scale. AlgoBot has been recognized for its expertise and innovation in the global algorithmic trading field and was recently selected for the 2023 K-Startup Grand Challenge. It is receiving support for localization and business expansion in Korea through an acceleration program provided by Nautilus Investment Co., Ltd. The K-Startup Grand Challenge is an overseas startup support program jointly hosted by the Ministry of SMEs and Startups and the National IT Industry Promotion Agency.
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