Rotman Interactive Trader

Overview

Rotman Interactive Trader (RIT), developed by our very own Finance Lab team, is an order-driven market simulator (which allows users to transact financial securities with each other on a real-time basis) plus a sequence of RIT cases. Each RIT case focuses on the risks and opportunities associated with particular securities or strategies. The RIT cases are designed to be run iteratively using multiple replications which implement a range of potential scenarios. The same strategy can yield different results depending on the final realization of the scenario. Students learn from the immediate feedback on the success of their strategies and practice until they find a robust strategy that works well across the whole range of potential outcomes. In effect, the RIT cases are designed to apply finance theory in a setting in which students learn how to make good decisions when faced with uncertainty about outcomes.

Currently, RIT is being used by many universities in the world, and also used in the trading competitions that take place at the Finance Lab including the Rotman international Trading Competition. Students have the opportunity to familiarize themselves with order-driven markets and (limit and market) order types, effectively quickly reinforcing their knowledge of different finance principles via experimental learning.

Find out more about RIT at the website: http://rit.rotman.utoronto.ca.

The RIT client application is available on all Finance Lab workstations.