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The
Investment Challenge
A ten-month mock portfolio competition for university investment clubs, scored on return, risk and real alpha.
October – August
Student investment clubs
6 ways to win
$12,000 in prize money
$1,000,000 starting mock capital
START DATE
October 2026
REGISTRATION CLOSES
March 15, 2027
Overview
The NXT Investment Challenge is a competition for university student investment clubs. Teams manage $1,000,000 mock portfolios on NexxTerminal over a 10-month period.
Most trading competitions reward whoever took the biggest swing and got lucky. This one is organized differently. Returns matter, but so does the risk taken to earn them, whether a portfolio outperformed the market, and whether a participant and team can explain the rationale behind the decisions it made.
Why we’re running this
Markets are hard to master in the classroom. Watching a position move, deciding whether to hold or exit a position, putting aside emotions, and defending each move after-the-fact form a real-life test that textbooks can’t teach. The Challenge gives participants a uniquely tangible, hands-on experience.
What NexxTerminal offers
→
A $1,000,000 mock portfolio
→
Scenario and returns-style analysis tools
→
A live leaderboard with dynamic scoring
→
Research, watchlists and featured memos
→
Trade log to record commentary
What makes it different
01
Robust performance evaluation
Multi-faceted assessment matrix awards points based on a variety of metrics and weights.
02
Scenario analysis
Model out portfolio allocations and stress-test them before committing capital. Once satisfied, you can rebalance your portfolio with a single trade.
03
Returns style analysis
See what is actually driving performance based on various factors, such as growth, value, and size, as well as whether the portfolio is generating real alpha.
04
Judged on reasoning
Every trade carries commentary, and every team defends its strategy in a final presentation to a panel of judges.
Overview
The NXT Investment Challenge is a competition for university student investment clubs. Teams manage $1,000,000 mock portfolios on NexxTerminal over a 10-month period.
Most trading competitions reward whoever took the biggest swing and got lucky. This one is organized differently. Returns matter, but so does the risk taken to earn them, whether a portfolio outperformed the market, and whether a participant and team can explain the rationale behind the decisions it made.
Why we’re running this
Markets are hard to master in the classroom. Watching a position move, deciding whether to hold or exit a position, putting aside emotions, and defending each move after-the-fact form a real-life test that textbooks can’t teach. The Challenge gives participants a uniquely tangible, hands-on experience.
What NexxTerminal offers
→
A $1,000,000 mock portfolio
→
Scenario and returns-style analysis tools
→
A live leaderboard with dynamic scoring
→
Research, watchlists and featured memos
→
Trade log to record commentary
What makes it different
01
Robust performance evaluation
Multi-faceted assessment matrix awards points based on a variety of metrics and weights.
02
Scenario analysis
Model out portfolio allocations and stress-test them before committing capital. Once satisfied, you can rebalance your portfolio with a single trade.
03
Returns style analysis
See what is actually driving performance based on various factors, such as growth, value, and size, as well as whether the portfolio is generating real alpha.
04
Judged on reasoning
Every trade carries commentary, and every team defends its strategy in a final presentation to a panel of judges.
HOW IT WORKS
Format & Heats
The Challenge has three separate heats in order to provide a more dynamic and colorful competition experience. Each participant will have access to three portfolios, one corresponding to each heat.
5
Maximum members per team
2
MINIMUM NON-4TH-YEAR STUDENTS PER TEAM
$1M
Starting mock capital per portfolio
Three heats
Heat 1
Team
One for All
The team trades one shared portfolio. Members decide together which orders to place, and a designated trader executes them.
Assessed on
Team portfolio
Heat 2
Team
Sum-of-the-Parts
Each member manages their own $1M portfolio. Each member’s portfolio is consolidated together to form the team’s cumulative result.
Assessed on
Combined portfolios
Heat 3
Individual
Free for All
Individuals trade their own book and are ranked on their own performance against every other participant in the Challenge.
Assessed on
Individual portfolio
Two ways to win a heat
01
Absolute Return
Ranked purely on total dollar return during the competition window.
02
Points Matrix
Ranked on a weighted score that balances return, risk, alpha, trading discipline and the quality of reasoning.
3 heats × 2 rankings
= 6 prizes
What you can trade
Any publicly listed stock or exchange-traded fund available on NexxTerminal. Only trades placed inside the trading window count.
HOW IT WORKS
Format & Heats
The Challenge has three separate heats in order to provide a more dynamic and colorful competition experience. Each participant will have access to three portfolios, one corresponding to each heat.
5
Maximum members per team
2
MINIMUM NON-4TH-YEAR STUDENTS PER TEAM
$1M
Starting mock capital per portfolio
Three heats
Heat 1
Team
One for All
The team trades one shared portfolio. Members decide together which orders to place, and a designated trader executes them.
Assessed on
Team portfolio
Heat 2
Team
Sum-of-the-Parts
Each member manages their own $1M portfolio. Each member’s portfolio is consolidated together to form the team’s cumulative result.
Assessed on
Combined portfolios
Heat 3
Individual
Free for All
Individuals trade their own book and are ranked on their own performance against every other participant in the Challenge.
Assessed on
Individual portfolio
Two ways to win a heat
01
Absolute Return
Ranked purely on total dollar return during the competition window.
02
Points Matrix
Ranked on a weighted score that balances return, risk, alpha, trading discipline and the quality of reasoning.
3 heats × 2 rankings
= 6 prizes
What you can trade
Any publicly listed stock or exchange-traded fund available on NexxTerminal. Only trades placed inside the trading window count.
scoring
Scoring & Judging
Each heat will have two leaderboards corresponding to the two assessment frameworks: Absolute Return and Points Matrix.
30%
25%
15%
15%
10%
5%
COMPONENT
MAX POINTS
BASIS
Alpha
30
Two-tier approach
Sharpe Ratio
25
Session return vis-a-vis session volatility
Absolute Return
15
Session return
Quality of Trade Commentary and Research
15
Number of trades that have a recorded trade justification + usage of the Implement Scenario feature
Final Presentation and Retrospective
10
Evaluated by NXT team and corporate judges
Trade Efficiency
5
Bounded trade count
Alpha, in two tiers
The live leaderboard estimates alpha against a simple ETF style model (IWF, IWD, IWM, BND). Official scores are recomputed on Fama-French/Carhart factors once data for the full window is published, so live rankings are provisional and may shift.
Trade efficiency
Each session has a minimum and maximum trade count. Staying inside the band results in a full category score; too few or too many trades reduce the score. Applying a scenario counts as one trade.
Commentary & presentation
Judges look for completeness (every trade explained), sensibility (the reasoning holds up) and specificity (real metrics, not filler AI-generated text). The final presentation will remain a holistic evaluation.
Note
This is a preliminary overview. The finalized full scoring methodology and judging rubric will be published at the official kickoff.
scoring
Scoring & Judging
Each heat will have two leaderboards corresponding to the two assessment frameworks: Absolute Return and Points Matrix.
30%
25%
15%
15%
10%
5%
COMPONENT
MAX POINTS
BASIS
Alpha
30
Two-tier approach
Sharpe Ratio
25
Session return vis-a-vis session volatility
Absolute Return
15
Session return
Quality of Trade Commentary and Research
15
Number of trades that have a recorded trade justification + usage of the Implement Scenario feature
Final Presentation and Retrospective
10
Evaluated by NXT team and corporate judges
Trade Efficiency
5
Bounded trade count
Alpha, in two tiers
The live leaderboard estimates alpha against a simple ETF style model (IWF, IWD, IWM, BND). Official scores are recomputed on Fama-French/Carhart factors once data for the full window is published, so live rankings are provisional and may shift.
Trade efficiency
Each session has a minimum and maximum trade count. Staying inside the band results in a full category score; too few or too many trades reduce the score. Applying a scenario counts as one trade.
Commentary & presentation
Judges look for completeness (every trade explained), sensibility (the reasoning holds up) and specificity (real metrics, not filler AI-generated text). The final presentation will remain a holistic evaluation.
Note
This is a preliminary overview. The finalized full scoring methodology and judging rubric will be published at the official kickoff.
Timeline
Timeline
Key dates for the 2026–27 season. Mark the trading window in particular: nothing placed before it opens or after it closes counts toward final standings.
OCT 1, 2026
Registration opens
Clubs submit an expression of interest and complete the requisite registration form.
NOV 2, 2026
Launch
The trading window opens.
MAR 15, 2027
Registration closes
Register anytime in the Clubs submit an expression of interest and complete the requisite registration form.
MAR 2027
Midpoint check-in
1:1 Q&A session between Nexxus and each team.
AUG 31, 2027
Trading closes
Portfolios are locked.
SEP 2027
Final presentations & awards
Teams defend their strategy before a panel of judges. Final standings are confirmed and prizes awarded.
Note
Exact dates remain subject to change and will be confirmed by email.
Timeline
Timeline
Key dates for the 2026–27 season. Mark the trading window in particular: nothing placed before it opens or after it closes counts toward final standings.
OCT 1, 2026
Registration opens
Clubs submit an expression of interest and complete the requisite registration form.
NOV 2, 2026
Launch
The trading window opens.
MAR 15, 2027
Registration closes
Register anytime in the Clubs submit an expression of interest and complete the requisite registration form.
MAR 2027
Midpoint check-in
1:1 Q&A session between Nexxus and each team.
AUG 31, 2027
Trading closes
Portfolios are locked.
SEP 2027
Final presentations & awards
Teams defend their strategy before a panel of judges. Final standings are confirmed and prizes awarded.
Note
Exact dates remain subject to change and will be confirmed by email.
Rules
Rules & Eligibility
Who can enter
The Challenge is open to university student investment clubs. Each club can register a single team made up of its own members. Every team member must be a currently enrolled student, and each student may compete on one team only. Accounts are non-transferable and may not be shared.
Team checklist
→
Registered university student investment club
→
Up to 5 members per team
→
Minimum of 2 non-4th-year students
→
All members currently enrolled
→
A designated trader named for Heat 1
Trading conduct
→
All trades must be placed through your own or your team’s NexxTerminal account; in Heat 1, only the designated trader places orders on behalf of the team.
→
Exploiting a pricing error, platform bug or data delay is not allowed and will be reversed by the NexxTerminal team.
→
Short selling and margin trading are permitted only if explicitly enabled on your account; check with organizers if unsure.
→
All trading activity and commentary is logged and may be reviewed by organizers at any point during or after the competition.
Fair play & academic integrity
The Challenge runs under the same standard of conduct expected in any academic setting. Trade commentary must reflect your own analysis: AI tools may support research, but generic or fabricated commentary will score poorly. Attempts to manipulate results may lead to disqualification and a report to the appropriate academic office.
Ties
Ties in an Absolute Return ranking are broken by the higher Sharpe ratio. Ties in a Points Matrix ranking are broken by the higher official alpha. If a tie remains, prizes for the tied positions are split evenly.
Verification
Before prizes are awarded, organizers review the transaction history and commentary of top finishers to confirm compliance. Results are provisional until this review and official scoring are complete.
Disqualification
Organizers may disqualify any team or individual found in violation of these rules at any stage, including after winners are provisionally announced. Prizes are then reallocated to the next eligible finisher.
Rules
Rules & Eligibility
Who can enter
The Challenge is open to university student investment clubs. Each club can register a single team made up of its own members. Every team member must be a currently enrolled student, and each student may compete on one team only. Accounts are non-transferable and may not be shared.
Team checklist
→
Registered university student investment club
→
Up to 5 members per team
→
Minimum of 2 non-4th-year students
→
All members currently enrolled
→
A designated trader named for Heat 1
Trading conduct
→
All trades must be placed through your own or your team’s NexxTerminal account; in Heat 1, only the designated trader places orders on behalf of the team.
→
Exploiting a pricing error, platform bug or data delay is not allowed and will be reversed by the NexxTerminal team.
→
Short selling and margin trading are permitted only if explicitly enabled on your account; check with organizers if unsure.
→
All trading activity and commentary is logged and may be reviewed by organizers at any point during or after the competition.
Fair play & academic integrity
The Challenge runs under the same standard of conduct expected in any academic setting. Trade commentary must reflect your own analysis: AI tools may support research, but generic or fabricated commentary will score poorly. Attempts to manipulate results may lead to disqualification and a report to the appropriate academic office.
Ties
Ties in an Absolute Return ranking are broken by the higher Sharpe ratio. Ties in a Points Matrix ranking are broken by the higher official alpha. If a tie remains, prizes for the tied positions are split evenly.
Verification
Before prizes are awarded, organizers review the transaction history and commentary of top finishers to confirm compliance. Results are provisional until this review and official scoring are complete.
Disqualification
Organizers may disqualify any team or individual found in violation of these rules at any stage, including after winners are provisionally announced. Prizes are then reallocated to the next eligible finisher.
Prizes
Prizes
Prizes
Six prizes, one for each ranking in each heat. Whether a team's edge is raw return or disciplined, well-reasoned investing, every heat represents a fresh chance to win.
$12,000 Prize Pool
Prize Category
HEAT 1
One for All
HEAT 2
Sum-of-the-Parts
HEAT 3
Free for All
Absolute Return
$2000
$2000
$2000
Points
$2000
$2000
$2000
What else you walk away with
01
Verified Portfolio
Each participant can include their resume in a resume book and may elect to allow their trading performance to be shared with corporate partners.
02
Recognition
Top finishers may be featured in NexxTerminal and partner communications, with participant consent.
03
Judges’ feedback
Finalists present to a panel of judges and receive direct feedback on their strategy and reasoning.
Prizes
Prizes
Six prizes, one for each ranking in each heat. Whether a team's edge is raw return or disciplined, well-reasoned investing, every heat represents a fresh chance to win.
$12,000 Prize Pool
Prize Category
HEAT 1
One for All
HEAT 2
Sum-of-the-Parts
HEAT 3
Free for All
Absolute
Return
$2000
$2000
$2000
Points
$2000
$2000
$2000
What else you walk away with
01
Verified Portfolio
Each participant can include their resume in a resume book and may elect to allow their trading performance to be shared with corporate partners.
02
Recognition
Top finishers may be featured in NexxTerminal and partner communications, with participant consent.
03
Judges’ feedback
Finalists present to a panel of judges and receive direct feedback on their strategy and reasoning.
Get Started
Ready to compete?
Building a portfolio that holds up over ten months takes more thought than picking a hot stock and hoping. Regardless of your club’s performance, the Challenge is designed to provide you with an arena to compete against your peers in a risk-adjusted setting.
How your club registers
1
Submit your club’s expression of interest using the registration link below.
2
Name your team(s), confirm eligibility and choose a designated Heat 1 trader.
3
Receive NexxTerminal credentials for every member by email.
4
Meet online with a coordinator for the platform walkthrough and full rules.
Get Started
Ready to compete?
Building a portfolio that holds up over ten months takes more thought than picking a hot stock and hoping. Regardless of your club’s performance, the Challenge is designed to provide you with an arena to compete against your peers in a risk-adjusted setting.
How your club registers
1
Submit your club’s expression of interest using the registration link below.
2
Name your team(s), confirm eligibility and choose a designated Heat 1 trader.
3
Receive NexxTerminal credentials for every member by email.
4
Meet online with a coordinator for the platform walkthrough and full rules.