LAHORE: Lahore Stock Exchange (LSE) has launched the LSE Virtual Investment Competition-an online trading competition that simulates a real trading environment and allows participants to trade by using virtual amount of money.
The competition was open to the registered students only for a 30-day period starting from February 1 to March 2, 2014, said the LSE Managing Director Aftab Ahmed Chaudhry here Tuesday.
He said the LSE was the only Exchange in Pakistan, having a regular Financial Literacy Programme (FLI) jointly initiated by the LSE and South Asian Federation of Exchanges (SAFE) to provide basic financial knowledge to the students of all ages across the nation. In sequel to the FLI programme, he added, the LSE had successfully introduced 'Virtual Investment Competition' to lead the programme to an advance level.
Aftab said that each participant of the competition would be allotted a virtual amount of Rs 1 million to build an investment portfolio by investing the amount to buy and sell in different scrips during 30 days. After due analysis and comparison of portfolios of each participant, he added, the Exchange shall award cash prizes of Rs 50,000, Rs. 25,000, Rs 12,000, Rs 8,000 and Rs 5,000 to top five winners respectively upon building the valuable portfolio.
He said, "We believe that LSE's Virtual Investment Competition is a highly practical way to introduce a culture of saving and investment among the youth of Pakistan and help the students to understand how the trading in a real world takes place before they practically jump into the real world. Also, through this investment competition game, the students will establish a real sense of understanding on the capital to invest in the investment products available at stock exchanges."
This competition, he observed, would assist the students to formulate best investment strategy and create a strong decision-making power to enter and exit from the market that played a key role in order to produce maximum investment return from the capital invested in stock market.
The Lahore Stock Exchange MD mentioned that LSE had already introduced Investor Awareness Programme-IAP to target the existing and new investors to learn about the fresh perspectives on the market investments, latest market trends as well as new information about the upgraded investors protection arrangements put in place in the local capital market.
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