Dubai Financial Market (DFM) has launched the 'Summer Stock Game,' aimed at increasing understanding of financial market trading and developing skills amongst the new generation of talented youth.

An annual initiative, the 'Summer Stock Game,' has been launched in association with the Ministry of Culture, Youth and Community Development.

The stock game will conclude on July 29 followed by the closing ceremony and award distribution on August 2.

The competition is also part of a joint initiative between DFM and the ministry to better serve the community by providing the best electronic educational programmes and continue to work restlessly to sharpen the younger generation’s skills, said a DFM statement.

The Stock Game attracted 137 students who participated in the ministry’s activity centers and in the DFM Summer Training Programme, it added.

The participating centers include: Youth Center in Sharjah and cultural centers in Ras Al Khaimah, Masafi and Fujairah under the umbrella of the Ministry of Culture, Youth and Community Development, it said.

Participants will have the opportunity to utilize the IT infrastructure available at summer activity centers such as PC’s connected to the Stock Game electronic system at DFM.

The top three winners will receive prizes including PCs , Ipad laptops, electronic games and trophies. Furthermore, all participants who achieved a minimum of 20 trades, will receive participation certificates. Additionally, the most represented educational institution within the top 30 places will be honored with the excellence trophy.

Prior to the Stock Game’s commencement, DFM had organized a series of workshops, headed by Jamal Al Khadhar, senior vice president of the Product Development division, DFM, who informed  students on the bourse's functionality and mechanism, explained the details of this competition and how to trade through the Stock Game website.

During the course of the game, students will have the opportunity to virtually trade in securities listed on the Dubai Financial Market through the market website, as per the live prices during trading hours.

Each student will receive a virtual amount of Dh1,000,000 ($272,279) and can use it to buy and sell shares and securities during the competition. Winners are defined by the gains achieved during the competition.

Commenting on this year’s competition, Al Khadhar said: "DFM is continuously engaged in various activities and programmes specifically for young people. The new summer competition demonstrates our commitment in developing the skills and abilities of today’s youth."

"The competition plays a vital role as a catalyst for participants to sharpen their skills and develop new skills in the investment field, as well as increase their awareness on the role of financial markets."

"Undoubtedly, DFM’s initiatives have achieved phenomenal success each year, a fact that is well supported by the increased number of participants in both the main and summer stock games, and the huge interest we see from the educational community. We are delighted to collaborate this year with the Ministry of Culture, Youth and Community Development who are facilitating the participation of students from the ministry’s summer centers," Al Khadhar added.

Amina Khalil Ibrahim, head of Awareness and Training Committee of UAE Summer Programme and director of Community Development Department, the Ministry of Culture, Youth and Community Development said: “As part of the Ministry’s commitment to develop individual skills and capabilities of the younger generations, the Committee was associated with DFM in organizing a series of workshops on stock markets and DFM’s Summer Stock Game."

"The overwhelming success of these workshops is highly attributed to the fruitful cooperation of all concerned parties and the great enthusiasm and interest towards stock markets amongst the participants which reaffirms the importance to further deepen their knowledge of this important sector. We are confident that early awareness will have a positive impact on the young generations in the future," she added.-TradeArabia News Service