By Elysse Zarek
Time keeps on ticking for one of Ryerson’s newest clubs, though it has yet to realize one of its original goals.
When the Ryerson Stock Exchange (RSE) was formed last year, it planned on having a stock ticker up and running in the business building by the start of this semester.
Rachel Kagan, president of the RSE, said the group is still putting together a proposal for corporate financing and sponsorship for the expensive service, but said she’ll be around until it becomes a reality.
The proposal was sidelined last year because the group was focusing on the Investment Challenge, a stock market competition for students sponsored by Palm Canada, said Kagan, a fourth-year business student.
She said they haven’t told the business school yet about the plans for the ticket, but they are working on a proposal and hope to approach the dean of business with their ideas at a meeting later this week.
Meanwhile, Kagan is hoping to secure a corporate sponsorship from one of the charter banks like CIBC or TD Waterhouse because the sky-high prices are too much for the RSE to fund on its own.
She estimates the cost of installing and maintaining a ticker would cost approximately $50,000 over two years.
Kagan has already spoken with a company that provides stock tickers to the University of Toronto and McMaster University, and with Reuters Canada, a news service that provides up-to-the-minute market prices.
But she is doubtful she will see a ticker up and running before she graduates at the end of this semester.
“I don’t see it happening for this year,” said Kagan adding she plans to stick around to help out with the RSE and follow up on the proposal.
The RSE received official RyeSAC status last November and only started having meetings in January, so Kagan and her crew are still learning on the job.
“There’s been a learning curve,” she said.
Last year, there were around 75 students in the group. Thirty more students – most of whom study business at Ryerson – have joined this year.