‘World class’ business school lab opened

The bell has rung out, the trading room is open and now commerce students can get real life experience on the trading floor from Dunedin.

Minister of Finance Grant Robertson yesterday officially opened the University of Otago BNZ Bloomberg Markets Lab Te Taura Takata at the business school.

Te Taura Takata has had students in the lab since the summer school period began in January, but the official opening was delayed due to Covid-19 restrictions.

The room, which has been funded by BNZ, will be used for teaching both finance and accountancy classes and for academics’ research.

BNZ chief executive officer and managing director Dan Huggins said Te Taura Takata would help build "world class" capability among students.

It was fitted with 17 Bloomberg terminals, a software that provided up-to-date business and markets news, data and analysis.

Addressing a crowd of over 100 at the opening event, Mr Robertson recounted his time at the university.

Finance Minister Grant Robertson rings the bell at the University of Otago Business School’s...
Finance Minister Grant Robertson rings the bell at the University of Otago Business School’s trading room yesterday morning. PHOTO: GREGOR RICHARDSON
Mr Robertson said the school had previously held only four computer suites for students when he attended the university.

"For those students who are using this facility, it is an extraordinary time to be interested in the markets.

"This is a state-of-the-art, world-class learning facility. It’s just fantastic for Dunedin and students at the University of Otago that it’s here."

Mr Robertson said he had been looking forward to ringing a bell since his time at Macandrew Intermediate School, where he had asked to ring the school bell.

Now his dream had become a reality, as Mr Robertson rang the market bell to signify its official opening.

The bell was repurposed from its original site outside the University’s geology building, where it had been rung by PhD candidates on their graduation.

As he swung the rope and the sound rang out he closed his eyes and said: "I love that sound".