Commerce students set to benefit from new market room

The University of Otago’s commerce students no longer need to travel to Wellington to get experience on a trading floor.

It has been brought to them.

The university’s business school has built a new market room, called Te Taura Takata, for its students to gain first-hand experience as share brokers.

The idea for the room had been in the plans for a few years and it was "very exciting" to finally see it completed, the school’s dean Prof Robin Gauld said.

The room, which had been funded by BNZ, would be used for teaching both finance and accountancy classes and for academics’ research.

It had been fitted out with 17 Bloomberg terminals, a software that provided up-to-date business and markets news, data and analysis.

Inside the business school’s completed market room. PHOTO: SUPPLIED
Inside the business school’s completed market room. PHOTO: SUPPLIED
Previously the school had only one terminal for students to use.

"There will be real opportunities here for students to learn in real time."

Younger people had become more aware of the financial markets, particularly with retail investing platforms such as Sharesies and Hatch, and the market room was a way of giving them the tools to increase their knowledge.

"Young people are really excited about the fact that they can trade on their phones now."

Prof Gauld hoped the room would also be a way of getting the general public involved to learn more about the markets.

"It will have a wide range of uses and we’re really excited to implement them."

University of Otago’s business school dean Prof Robin Gauld stands in front of the school’s new...
University of Otago’s business school dean Prof Robin Gauld stands in front of the school’s new market room. PHOTO: PETER MCINTOSH
New Zealand’s first stock exchange was built in Dunedin in the 1890s and the Otago Harbour had an extensive history in trading for both Maori and European settlers, Prof Gauld said.

The room was almost completed with just the trading bell held up in delivery.

Prof Gauld hoped that when NZX officials were in Dunedin, the day’s trading could be opened from the room.

"I think for Dunedin, it will become a point of difference for us, and it will be quite an exciting celebration to open trading from here."

Minister of Finance Grant Robertson was scheduled to officially open it next month, but due to Covid-19 restrictions it had been postponed until June.

 

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