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Industry leaders join university professors calling for greater access to market data

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RCM Alternatives UCLA Anderson Master of Financial Engineering Program
Six university professors join six financial industry leaders in asking the rest of the industry and academics to sign a petition to push for real world solutions to address the gap in academia's access to data, platforms, and insight into the type of skills needed by today's financial firms.

CHICAGO - Nov. 13, 2018 - EntSun -- Professors from financial markets programs at Carthage College, University of Illinois MSFE, Northwestern, and UCLA joined financial industry leaders from RCM Alternatives, RCM-X, Rapunzl, McBride Trading, Polaris 7, and QTS Capital Mgmt. today in publishing an open letter to the financial industry calling for greater participation amongst exchanges, trading platforms, and trading firms in bridging the gap between academia and real world trading.

Joe Signorelli, RCM University board chairman, founder and managing partner of RCM-X, advisor to the UCLA Anderson MSFE, Carthage College, University of Illinois MFSE programs said, ""The industry has a responsibility to help train the next generation of Trading Industry leaders. The signatories of this letter are committed to supporting this effort through the RCM University program, partnering with like-minded industry groups and serving as a focal point for discussion with other industry leaders."

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The letter details how the financial trading Industry is facing a significant and far-reaching challenge in that it has lost its long-standing training ground for future industry leaders thanks to the move away from the trading floors to trading via computers and automated trading technologies, and highlights how the result has been to place even more demand on academia to produce work-ready future employees for the Financial Trading Industry.

Several professors detail how there are multiple hurdles for universities to overcome in accessing reliable data, including Prof. Olivier Ledoit of UCLA's Masters of Financial Engineering program, who describes the environment as "more geared to academics who need to write a paper, not teaching traders how to make trades to test their theories", while Prof. Morton Lane, Founder and Director of the MSFE program at the University of Illinois, adds, "the new Data Analytic techniques of Machine Learning and Artificial Intelligence desperately need full financial data. Students in that area are learning techniques on generic data sets…[but] we will only unleash the power of AI and ML in finance if we get students to study on real data."

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The letter lays out specific areas needed to address the gap, including asking exchanges to streamline the process for getting schools educational waivers on data, educational versions of industry leading front end trading platforms, and greater involvement on the part of financial firms in providing university programs insight into how the industry works; while asking those with similar thoughts to sign a change.org petition to better highlight this need to the exchanges and platform vendors.

View the full letter here: and Change.Org petition here

About RCM Alternatives

RCM Alternatives is one of the largest independent Introducing Brokers in the futures space. The firm sources and structures global macro and managed futures investments for end investors, touching on all aspects of the investment from manager meetings and due diligence to vendor selection and new account onboarding. RCM also works with asset managers to provide strategic cap intro services, multi-FCM clearing and execution solutions, and algorithmic execution and risk management software through its subsidiary RCM-X.

Visit rcmalternatives.com and rcm-x.com. For more on the RCM University Program, contact Joe Signorelli at 312-870-1547.

Source: RCM Alternatives

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