Voleo, Inc., (Voleo) a Canadian financial technology (fintech) mobile application company, today announced a first of its kind collaboration with Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV).
Working together to engage millennial investors and break down the barriers to investing, they have launched the Voleo TSX Equity Trading Competition, a simulated public markets investment competition that provides post-secondary students across the country with the tools and information they need to confidently enter the Canadian investment landscape.
As Canada's millennial generation remains largely disconnected from traditional public equities market investment, they look for more nimble, agile and mobile platforms that integrate into their lifestyle. The competition invites undergraduate and graduate students nation-wide to immerse themselves in strategic investment, igniting a more well-rounded generation of financial investors that will help to contribute to a strong Canadian economy.
The Voleo TSX Equity Trading Competition will allow participants to join forces with their peers to create tactical investment teams through the Voleo mobile application platform, which allows each group to tap into relevant research and practical resources and then use their shared intelligence to make informed investment decisions as a team.
Teams enrolled in the program will be given $1 million worth of simulated virtual currency and access to the Voleo mobile application to compete for $25,000 in prizes by creating, strategizing, and managing a simulated equity portfolio.
"This application is breaking down the barriers, like fear or lack of knowledge, that hinder new investors from entering into the financial markets," explains Thomas Beattie, Chief Executive Officer of Voleo, Inc. "The platform offers the information and tools necessary for new participants to better understand investment strategy, while allowing experienced investors to develop and hone their skills, creating a new generation of connected, informed and empowered investors".
"We are delighted to collaborate with Voleo to help increase financial literacy in Canada," says John McCoach, President, TSX Venture Exchange. "The Voleo TSX Equity Trading Competition will help Canada's millennial generation in particular by engaging and educating them about the breadth of investment opportunities that can be found on TSX and TSXV, our country's leading public equities markets."
The Voleo TSX Equity Trading Competition will run October 27th 2015 until April of 2016, with the final results announced on April 11, 2016.