Financial Trading Lab Opens
The College of Business hosted a formal opening Tuesday night for the Financial Trading Lab, which is located in the University Center across from the Wildcat Den. The lab replicates a stock broker's office. No actual trading will take place, but students can simulate the purchase and sale of stocks and bonds, perform financial analysis and research firm performance using continuous-feed financial data.
"The education and training for careers in business increasingly have a real-world component to complement classroom instruction," said Raj Sanyal (College of Business). "This setup is similar to large brokerage firms. It reflects Northern's high-tech environment and promotes teaching and research. With this lab, NMU is in the distinguished company of such institutions as MIT, Penn State, the University of Michigan and the University of Texas."
The lab is equipped with 25 workstations, including one for the instructor. Each receives financial data from real-world markets. LCD monitors and a data board display the latest financial, economic and political news provided by e-Signal. A 16-foot-long, tri-color electronic ticker tape scrolls above the entrance to the lab. Students and professors will be able to track their investments and make financial decisions based on the continuous data feed.
The lab is designed so that students gain practical skills related to finance, portfolio and risk management and financial trading. Lab activity will be incorporated into the curriculum beginning with the winter semester.
“The development of the trading lab in addition to the operation of the NMU Student Investment Fund will play a key role in enhancing the regional and national profile of the College of Business and the university,” said Daniel Konku (Business), who initiated the effort.
In addition to its impact on campus, the trading room will be a resource for area businesses, schools and the broader community.