Broker-Dealer game is a simulation based on trading in an Open Out-Cry market. It's a stimulating introduction to securities markets and to the process of price formation.

In this specific framework, you will experiment real trading conditions :
- be market maker vs market taker
- understand bid-ask spread
- fill and use a book of order to execute customer's orders
- use at best and limit order, manage the closing session,
- experiment the effects of liquidity, resilience, ...
- manage the orders flow, be a clerk, a runner or a broker-dearler
- ...

Learnings and citations

"This game is extremely catchy and brings us to establish a strategy to maximize our chances of profit and to be very reactive vis-à-vis the market changes."

"The heat of the action and the accumulated hubbub made the reflection difficult. The experience is fun, educational and enjoyable."

"It shows us a lot of knowledge that we cannot learn from books or internet. If there is another game, we would try harder and play a more active role in it."

"You must continuously monitor the market changes, communicate well with the back office, and force yourself to develop a real strategy."

"This experience was very formative and we learned much about the conduct of operations inside an organized market.
This game also allowed us to master concepts that were up to now theoretical as: differences between Broker / Dealer, how to pass bid / ask orders depending on market conditions and the order book, how to react quickly to the market and make based bid / ask instantaneous decisions...
For all this learning, we thank Professor BARCHECHATH for his explanations and for this wonderful experience."

"This simulation can lead to certain vocations and our side was very rewarding for us. The opposite may be true."

"Very good experience to feel the emotions of the trades of trading rooms. Allows a reflection on how to behave in a trading room (master his emotions, lead to better its goals by functions of other actors)."

"As the broker game, it was a good experience realistic enough. It allowed us to gain insight on market constraints (speed, responsiveness, adaptation strategies in real time ...). We would have liked to play on a longer duration (full afternoon or full day)."

"This exercise has enabled us to better understand the functioning of the market, including how to shape the market liquidity."

"You can have a very good strategy, but its implementation can be difficult because of factors affecting the market."

"We noticed that the price to equilibrium appears to be influenced by strategies, trials and errors and sometimes agent mimicry."

"In conclusion, enriching experience, very involving (one is near the production of adrenaline !), and trainer on the reality of trading."
 

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