Financial Training Lab sets students up for success

Financial Training Lab

Western Sydney University’s School of Business has launched a state-of-the-art training facility that will help students further develop real-world skills in financial investment and funds management.

The Financial Training Lab – which emulates a real trading floor – is the first of its kind in the Parramatta CBD and will further support the School of Business as the leader of financial education in Western Sydney, complementing the development and growth of data-intensive subjects in financial technology.

The facility features 40 terminals where students will be able to work in teams of five using data provided by global financial data company, FactSet, to make informed and responsible investment decisions and portfolio management in a simulated environment said Professor Amir Mahmood, Dean of the School of Business.

“This bespoke facility will provide students with an enhanced understanding of what it means for companies to list and trade in various futures and to attract capital through public offerings, developing their practical skills in different scenarios,” said Professor Mahmood.

“As part of the initiative, students will have the opportunity to create their own portfolio of simulated investments and will be able to track that set of investments over time, comparing their performance to their peers as well as track it against industry benchmarks.”

Located at Western Sydney University’s Peter Shergold Building, the facility will enhance the School of Business’ teaching, research, and community engagement activities.

It will also be available for private sector enterprises seeking to upskill their staff as well as collaboration with government and community organisations who are looking to support the financial literacy of disadvantaged groups.

Parramatta resident and PhD candidate Junxin Chen is one of the students who will use the facility as part of his learning.

“The University has provided many resources to help me with my research and the Financial Training Lab is another useful resource. It provides a real-time financial database, such as FactSet, which can help students understand the real-time operation of the global financial market and provide them with real-world experience,” said Junxin.

“The lab provides relevant training to help students understand what kind of capabilities they need to develop for their future work. It is a platform for students, financial analysts, researchers, and people from the community to communicate, which is beneficial for students' career planning and career development.”

ENDS

5 April 2023

Lauren Austin, Senior Media Officer

Photo and video credit: Point Dot Media