Cambridge and Oxford undergrads compete in a crypto trading contest

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  • APEX:E3 launched this competition alongside top firms in the crypto sector, including Coinbase.
  • The contest involves 15 teams competing to build crypto trading algorithms using APEX:E3’s API.
  • The winning team will keep its seed capital and the returns it will make during the tournament.

APEX:E3, a renowned provider of multi-asset analytics for retail and institutional investors has rolled out an algorithmic trading competition between undergraduate students from the University of Oxford and Cambridge. A report unveiled this news on November 25, noting that the contest will involve 15 teams from the Mathematics and Computer Science departments at both universities. Reportedly, this competition will see the teams use the APEX:E3’s API to create crypto trading algorithms and complete spot market trades on CoinbasePro and FTX exchanges.

According to the report, the competition went live on November 16 and is set to end in December. It will involve assessing the participants’ trading strategies, the technical design of their algorithms, and their overall Return on Investment (ROI). Per the publication, a panel of judges that are well-versed with the industry will determine how each team fairs.

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The report went on to note that the contest will see the teams employ various ideas for algorithms. These include arbitrage, making market predictions based on neural networks, momentum-driven strategies, machine learning and NLP-aided algorithms, and trade investing based on time sequence forecasting, among others.

Creating new avenues for collaborative research

APEX:E3, partnered with Coinbase, FTX, SIX digital exchange, LMAX Digital, and ConsenSys Mesh to host this tournament. Reportedly, the 15 teams will receive seed capital, technical support, and trading mentorship. The winning team will get to keep its seed capital and the returns it makes during the contest.

Commenting on this opportunity, Professor Mike Wooldridge, the head of the computer science department at the University of Oxford, said,

“As a leading University, engaging with industry on real-world applications of Computer Science provides not only an excellent opportunity for our students, but also potential new avenues for collaborative research. APEX:E3, has devised a unique challenge to apply students’ knowledge to real-world applications, leveraging the understanding and application of AI in financial institutions. We are pleased to have APEX:E3 as an industry affiliate and are excited to see how the competition unfolds over the coming week.”

According to Dr Quentin Stafford-Fraser of the University of Cambridge’s computer science department, this contest provides students with a risk-free opportunity to test their algorithms in real-life markets.

Elated by the response of students from both universities, APEX:E3’s CEO, Usman Khan, said that the company is planning on expanding the scope and number of universities in the coming year, hinting that the tournament might be a yearly event.

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