INTELLIGENT TRADER 4.0: Trade, Tender, Triumph!!
Nov 12, 2017 | Sandeepan Mohanty
The ultimate trading event was back this year in its 4th version to indulge the brains of the country in intellectual buying, selling and bargain to become the best trader. It is where your intellect to buy, sell and bargain are put to test. Cognizen conducts what can be considered as the NITR Trade fair, Intelligent Trader 4.0 on 5th of November at LA 114.
The event was supposed to start at 9.30 A.M but very few people had turned up by then. It got delayed by an hour and the trading fiasco started at 10:30 A.M. The wait was worthy because the event raised a total participation of 150 students. There were 42 groups in total comprising 2 to 3 members.
Structure of the Game:
1.Each team was provided with 4 lakhs worth currency and 3 lakhs worth commodities to start with. Three reference sets were provided, which the contestants referred and had to ensure that they could make a maximum number of either of those three sets.
2.Auction round 1: The government (coordinators) sells some items. Every item had a certain base price and the bidder with the highest amount gets the item.
3.Inter-Trading round 1: All the teams participating bargained among themselves and bought items as per the requirement of the set they earlier chose. A team's objective was to make a maximum number of sets. This round lasted for about 15 minutes.
4.Demonetisation principle was also introduced this year which heightened the stakes and made the trading look more interesting.
5.Inter trading 2: 12 minutes was given to every team to adjust to the new economy.
6.Auction 2: It was similar to Auction1. The only difference being here is that the goods were to be sold in a bundle.
7.The final round for inter-trading (Inter-Trading 3): Similar to Inter-Trading 1 which took place for 9 minutes.
There was pretty much chance for the participants to complete their sets given the number of auctions and trading rounds. Every transaction was to be maintained in a balance sheet provided by the organisers.
Winners: Sandeep Kumar Ghosh(3325), K Vamsi Verma(4327)
Runners-up: Bibhupad Tripathy(3240), Raj Rajeswar Sahu(3486), Abhishek Pramanik(2313)
Arjun P, the event coordinator was quoted saying,
“Although the event went smoothly, we struggled a lot to control the crowd. The major reason being the lack of provision of a speaker and mic system from the INNO Team. The nature of the game is chaotic and can be a little messy sometimes.”