ASX and TradeFloor unveil innovative game as options trading popularity surges
The Australian Securities Exchange (ASX) and Australian fintech, TradeFloor, have joined forces to deliver the ASX Options Trading Game, aimed at educating individuals about the intricacies of trading options.
With more Australians taking an active interest in investing than ever before, products such as options have grown in popularity as they can be a useful way to minimise portfolio risk. Options contracts give investors the right, but not the obligation, to buy or sell an underlying asset like a stock at a specified price.
The ASX Options Trading Game offers participants a realistic trading environment that facilitates hands-on learning and empowers individuals to make informed investment decisions. The game will be available for anyone to register and participate at any time over five weeks from Monday 19th June to Friday 21st July.
The game provides a unique opportunity for both novice and experienced traders to enhance their understanding of options trading, from basic concepts to advanced strategies, in an engaging and interactive manner, offering participants the opportunity to compete against each other for a place on the leaderboard or create their own leagues with friends and family. The overall winner of the game will win $500.
ASX Head of Equity Sales & Equity Derivatives, Graham O’Brien, said, “We are pleased to collaborate with TradeFloor to offer investors a risk-free way to learn about options trading, which have become an increasingly accessible asset class for both wholesale and retail participants in recent years.
“Options have become an increasingly accessible asset class for both wholesale and retail participants in recent years, and this initiative by the ASX plays a key role in helping a new cohort of investors better understand the characteristics, risks and return profile of options in their portfolio.
“The ASX Options Trading Game reflects the ASX’s commitment to promoting financial literacy and equipping individuals with the knowledge and skills to make informed investment decisions. By creating an immersive and realistic trading experience, we hope to empower the next generation of traders and help them navigate the dynamic world of options trading with confidence.”
Dan Jowett, CEO of TradeFloor’s partent company, Openmarkets Group (OMG), echoed this sentiment, stating, “As a company dedicated to providing innovative trading solutions, we are excited to partner with the ASX and showcase our market-leading risk management technology. The ASX Options Trading Game offers users an unparalleled learning experience, combining our advanced technology with ASX’s deep market expertise.
“As a leading provider of options trading technology, TradeFloor is proud to deploy our unique solution to facilitate the game over the next five weeks.
“We believe this initiative will significantly contribute to the financial education landscape by fostering a deeper understanding of options trading and cultivating informed decision-making skills,” said Jowett.
