The British universities of Oxford and Cambridge, famed for their annual boat race, are bringing their traditional rivalry into the crypto arena.
- Students from both universities will take part in an algorithmic trading competition hosted by investor analytics firm APEX:E3.
- Fifteen teams of competitors must use the API from APEX:E3 to build algorithms and make spot market trades of cryptocurrencies on the CoinbasePro and FTX exchanges.
- Coinbase, FTX, SIX Digital Exchange, LMAX Digital and ConsenSys Mesh are all partnering to assist the competition, according to the announcement on Wednesday.
- Teams will be gauged by return on investment, trading strategy and algorithm design by a panel of industry judges.
- Professor Mike Wooldridge, Head of Department of Computer Science at University of Oxford, said the competition “provides not only an excellent opportunity for our students, but also potential new avenues for collaborative research."
- The Oxford and Cambridge teams were signed up on Nov. 16, with the crypto-trading competition to be concluded in December.
- The winning team will keep its seed capital and any returns they make, said APEX:E3.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.