New York Institute of Technology dedicated its simulated trading floor yesterday, ringing the opening bell and joining Voya Financial leaders in a ribbon cutting ceremony to celebrate the room’s state-of-the-art technology and role in creating career-ready business professionals.
NYIT President Edward Guiliano, Ph.D., thanked Voya Financial Chairman and CEO Rodney O. Martin Jr. and Voya Financial Executive Vice President and Chief Human Resources Officer Kevin D. Silva, an NYIT trustee, for the firm’s support of the space.
It’s a good occasion to highlight the partnership of higher education and the corporate world, Guiliano said.
The room contains five large wall-mounted high-resolution monitors, a Smart Board, ticker tapes and an electronic stock board that displays market information, financial data, and streaming broadcasts of financial internet and cable offerings. Computers that were once set up in traditional-style tiered levels are now clustered in group stations around the room, providing a real-world atmosphere of trading kiosks prevalent on professional trading floors. Numerous software suites are available that reflect existing and emergent industry trends, including Bloomberg, Compustat, EViews and Crystal Ball, and various other ERP, risk management, and optimization tools.
The NYIT School of Management emphasis is on leadership, group dynamics and collaborative learning spaces that reflect an emerging trend in the way that businesses globally transact their services, said Dean Jess Boronico, Ph.D.
The room was designed to mimic that type of transaction at and across tables, and simultaneously provide students with opportunities to engage technology in new and innovative ways. Moreover, our distributed learning technologies permit us to interact with and network around the globe with our partner institutions and international professional affiliates.
Boronico said he and other NYIT representatives visited trading floors prior to settling on designs for NYIT’s facilities. Students helped in the design elements of the space so it reflects their priorities and preferences.
Our students are integrated into the fabric of all we do, said Boronico.
They take leadership roles and are invested in decisions that help improve our programs and facilities.
The Student Managed Portfolio program is among numerous initiatives the simulated trading floor supports. The program allows students to research and invest in global firms as they hone their risk management and financial analytical skills. The trading floor will also serve as the setting for financial boot camps, certification programs for industry professionals, and networking events. Along with NYIT’s Small Business Incubator, which hosts student and alumni entrepreneurs, the simulated trading floor plays a key role in the university’s professional enrichment and experiential learning opportunities.
It’s inspiring to see a teaching environment like this,” said Martin, noting the importance of providing students with an opportunity to manage a portfolio and gain real-world trading experience in an interactive, dynamic environment.
The event also celebrated Voya Financial's recent name change from ING U.S., a rebranding that seeks to build on the firm’s reputation as a leader in retirement, investments, and insurance.