The finals of the 7th International Algorithmic Trading Competition, organized by the Hong Kong Algorithmic Trading Association, took place on Wednesday (September 17) in Riyadh, the capital of Saudi Arabia, with teams from Switzerland and Hong Kong claiming the top prizes. The organizing body announced plans to launch an investment portfolio in October that will incorporate algorithmic achievements from past champions and top performers, making it available to professional investors.
The Best Return Rate Award for this competition was won by the Swiss team "Balfrin," achieving an absolute return rate of 39.54% during the two-month competition period. The runner-up was Hong Kong's "Alpha Hunting" team with an absolute return rate of 6.22%. The Best Sharpe Ratio Award was also claimed by Switzerland's "Balfrin" with a Sharpe ratio of 2.97, while the runner-up was China's "Fresh Organic Human" team with a Sharpe ratio of 2.84. The Sharpe ratio measures risk-adjusted returns of portfolios or assets, with higher ratios indicating more efficient investment strategies that generate higher returns while assuming lower risks. The Best Strategy Design Award was won by Hong Kong's "Alpha Hunting" team.
Tsang Kai-bong, co-founder and chairman of the Algorithmic Trading Association, stated that the SinoGulf AI Strategy portfolio will be launched in October, incorporating algorithmic achievements from past champions and top performers for professional investor participation. Implementation details are currently pending final review by Saudi regulatory authorities. This initiative represents a significant advancement in AI-driven asset management.
This year's competition was held in conjunction with the major Saudi fintech event Money 20/20 Middle East conference, receiving sponsorship from institutions including the Saudi Capital Market Authority (CMA) and Hong Kong Science and Technology Parks Corporation. The event attracted 800 participants from 49 countries, setting a new record for participation scale.
Tsang noted that this event highlights the deepening fintech collaboration between Hong Kong and Saudi Arabia, aligning with the recent memorandum of understanding (MOU) signed between the two regions. This partnership aims to jointly promote cross-border AI asset management and fintech innovation, further strengthening both regions' leadership positions in global financial future development.