Online Broker TradeKing Announces Winners of Loyola API Challenge

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Online broker-dealer TradeKing today announced the winners of its TradeKing Loyola API Challenge.

Online broker-dealer TradeKing (http://www.tradeking.com) today announced the winners of its TradeKing Loyola API Challenge. The TradeKing Loyola API Challenge was a first-of-its-kind contest to discover and showcase top technology innovation and business talent from a group of business and finance undergraduates from the Sellinger School of Business and Management at Loyola University Maryland. The Challenge encouraged students to leverage TradeKing’s new Application Programming Interface (API) to create innovative solutions, apps and mashups. The challenge resulted in the creation of some extremely innovative and ambitious interfaces and ideas. For the Loyola students, the Challenge offered the opportunity to roll up their sleeves and put their smarts against a real-life business challenge to show they have what it takes to create a first-gen, finance-focused technology application for investors. Students gained valuable skills in product management, technology/development team work and competitive analysis as they vied to create investor-ready apps that broke new ground. TradeKing and Loyola Judges sought unique solutions to common problems or tasks, as well as new but relevant approaches that were “outside the box.”

“TradeKing is taking a progressive step in opening to outside development a modern and accessible API to rapidly advance innovation,” said Dan Raju, CIO for TradeKing. “As part of that effort, we want the best, most intelligent developers to experiment with and drive innovation through the TradeKing API. The TradeKing Loyola API Challenge tapped the thinking of a talented group of undergraduate business and technology students, each of whom brought fresh thinking to the table. We congratulate the Challenge winners for the extensive time, effort and creativity they put into their work, and are extremely grateful to Loyola Professor Paul Tallon for his support.”

The Challenge, which kicked off on March 23 and concluded on April 30, judged students in four API-related categories, including 1) best and most creative use of the Tradeking API functions in a working app, 2) best combined use of the TradeKing API in a working app also utilizing another publicly available API (e.g., Google Finance, Yahoo! Finance, Facebook, Twitter), 3) best technical documentation of a completed and working app and 4) best submission of a Strategic Vision and Execution Plan document advising TradeKing on how to improve and expand upon its API strategy.

The response to the Challenge was overwhelmingly positive. Sixteen qualified individual and team entries were submitted, and the competition proved to be fierce among a number of extremely creative and diverse entries. Challenge winners were selected by a panel of judges including Raju; Don Montanaro, TradeKing Chairman and CEO; and Professor Tallon, associate professor of information systems and operations management at the Sellinger School. Challenge winners were awarded a cash prize.

“This was an amazing learning experience for our students,” said Professor Tallon. “To develop ideas for a next-generation application, students needed to draw upon a diverse body of knowledge spanning both IT and finance. They had to think outside the box. More importantly, they had to work in teams and under intense time pressure, knowing their classmates were equally driven to move their ideas from concept to execution. TradeKing has rewritten the rule book for how students learn in the classroom.”

About the TradeKing Loyola Campus Challenge Winners
Categories 1 and 3: Tony Florida & Stephen Febish
Florida, a Loyola junior who is also on the school’s varsity swimming team, and Febish, a senior who participates on Loyola’s varsity cross country and track and field teams, are both computer engineering majors. The team produced an innovative and well documented Android application that clients could use to interact with their TradeKing Accounts, WatchLists and perform multiple core brokerage functions. Florida said, “The Challenge was a wonderful experience for both of us. It was my first time working with an API, so I learned a great deal about that as well as trading stocks.”

As an outcome of his strong performance in the Challenge, Florida will also be joining TradeKing this summer as a paid intern in the firm’s Charlotte, N.C. location.

Categories 2 and 4: Paul Donovan, Paul Kelly and Michael Radovich
Donovan, Kelly and Radovich are all Loyola seniors. Donovan is a finance major and also serves as vice president of Loyola’s Financial Management Association. Kelly, a marketing major and information systems minor, spends time conducting marketing research for Howard County, Md. in an effort to better the community and drive the local economy. Radovich is a finance major and a member of Loyola’s Financial Management Association. He also writes investment articles for MarketNewsVideo.com and ETFChannel.com. The team created an impressive and thoughtful application that integrates TradeKing’s WatchList functionality with Twitter. Judges were particularly impressed with the team’s thought-provoking and relevant API vision document. The team said, “It was great to utilize what we learned in class and apply it to the TradeKing competition.”

About Loyola
Established in 1852, Loyola University Maryland is a Catholic, Jesuit comprehensive university comprising the Sellinger School of Business and Management; the School of Education; and Loyola College, home to the University’s arts and sciences programs. Loyola enrolls 3,700 undergraduate and 2,300 graduate students from across the country.

About TradeKing
TradeKing (http://www.tradeking.com) is a nationally licensed online stock and options broker offering simple, low cost online trading fees ($4.95 per trade plus $.65 per option contract, $8.95 per trade plus $.15 per options contract for nine or more contracts) with no hidden costs or account minimums.1 A pioneer in integrating new financial social media as part of its innovative online equities, options trading and fixed-income trading platform, TradeKing has received multiple discount broker awards from top industry sources and was rated best in customer service by SmartMoney2 Magazine, ahead of OptionsXpress, Scottrade, Fidelity, and TD Ameritrade. (June 2011 SmartMoney Broker Survey).

Follow TradeKing on Twitter at http://twitter.com/TradeKing,
Facebook at http://www.facebook.com/tradeking,
YouTube at http://www.youtube.com/tradeking,
LinkedIn at http://www.linkedin.com/company/tradeking.

Options involve risk and are not suitable for all investors. For more information, please review the Characteristics and Risks of Standard Options brochure before you begin trading options. Options investors may lose the entire amount of their investment in a relatively short period of time.

TradeKing provides self-directed investors with discount brokerage services, and does not make recommendations or offer investment, financial, legal or tax advice. The content of this press release is provided for educational and informational purposes only, does not constitute a recommendation to enter in any of the securities transactions or to engage in any of the investment strategies presented herein, and does not represent the opinions of TradeKing or its employees.

Online trading has inherent risks due to system response and access times that vary due to market conditions, system performance and other factors. An investor should understand these and additional risks before trading.

Member FINRA/SIPC.

(1)    $4.95 for equity and option trades, add 65 cents per option contract. Trade more than 8 contracts, and we'll automatically lower your cost to $8.95 per trade plus 15 cents per contract. TradeKing charges an additional $0.35 per contract on certain index products where the exchange charges fees. TradeKing adds $0.01 per share on the entire order for stocks priced less than $1.00. See our Commissions + Fees page at http://www.tradeking.com/fees for details on commissions on low-priced stocks, option spreads, and other securities.

(2)    TradeKing was ranked #1 in Customer Service in the SmartMoney June 2011 Broker Survey based on the following categories: Commissions and Fees, Mutual Funds & Investment Products, Banking Services, Trading Tools, Research, and Customer Service. SmartMoney is a registered trademark of SmartMoney, a joint publishing venture between Dow Jones & Company, Inc. and Hearst Partnership. Supporting documentation for any claims, comparison, statistics, or other technical data, will be supplied upon request by calling 877-495-5464 or via email at service(at)tradeking(dot)com.

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