Computer sciences student awarded $50,000 by Interactive Brokers Group

April 21, 2006

AUSTIN, Texas—Patrick Christmas, a graduate student in computer sciences at The University of Texas at Austin, has been awarded $50,000 from Interactive Brokers Group (IBG), for winning its electronic trading Olympiad for colleges.

IBG, a global leader in electronic market-making and brokerage services, will also donate a matching prize of $50,000 to the university.

Starting with an account of $100,000 in phantom money, Christmas earned an additional $120,000 in 10 weeks using computer algorithms he developed for IBG’s Interactive Brokers Trader Workstation Application Program Interface.

IBG created the Olympiad to highlight the growing need for engineers and computer science professionals in the financial services industry. The competition was opened to graduate and undergraduate seniors studying computer science or engineering in all North American colleges and universities.

Trades were generated by student-created computer algorithms in any asset class—equities, options, futures, warrants, bonds and currencies that are directly accessible from Interactive Brokers direct access trading platform. Various programming languages were allowed, including Java, C++, C, DDE and Visual Basic.

Additional student and school winners as well as Olympiad details are posted at the IBG Web site.

For more information contact: Lee Clippard, College of Natural Sciences, 512-232-0675.