MQF students win top prize in high-frequency trading competition

Two students in the Rutgers Master of Quantitative Finance Program captured first place in the 2026 High-Frequency Trading Competition hosted by Stevens Institute.

Yaning Wu and Elizabeth Pisakhova, both first-year MQF students, competed as “The Bag Holders” against 180 teams in the high-pressure, multi-day competition that took place between March 27 and April 24. The pair won a first-place prize of $2,000. 

The competition challenges students by realistically simulating how modern high-speed financial markets operate. Teams are required to design their own code and strategies for intraday algorithmic trading.The participating students use a trading simulation platform to realistically model high-frequency markets by allowing them to test scenarios and strategies under real-world conditions.

Wu said the competition was intense with many of the participants grappling with “bugs” in the system. After the preliminary round, the number of teams in the competition dropped to 80. Wu described the final round as “a lot of pressure.”

Wu and Pisakhova said they relied heavily on calculus and statistics for their strategy. Wu’s background in computer science also helped the team.

“It was great having an opportunity to apply everything we’ve learned in the Master of Quantitative Finance program, Pisakhova said, adding that she learned a lot by working so closely with Wu.

Wu attributed his team’s win to a “mindset of determination.”