Finance:Financial Modeling World Cup

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Short description: Financial modeling esports competition, using Microsoft Excel

The Financial Modeling World Cup (FMWC) is a organization that hosts various Microsoft Excel based competitions.

The FMWC held its first competition in September 2020 and currently hosts three competitions:


Financial Modeling World Cup (FMWC)

Description, Competition Format, and Scoring

FMWC is an annual Excel modeling competition.

During the course of a season (January through November), competitors complete eight stages, and are allotted two hours over a 48 hour window to complete each stage.

Each stage contains three case studies, one to five pages long, with multiple choice or fill-in questions at the end. Contrary to what the name suggests, not all case studies are financial modeling based; Many are business modeling or data modeling based.

Stage points are available for:

  • Task: Correctly solving questions on each case (Points vary by question)
  • Time: Completing the stage early (10 points per minute, awarded only if the competitor has scored 900 task points)

Each stage winner's score is normalized to 1,000 points, and the score of all other competitors are normalized accordingly.

FMWC rankings and final standings are based on points scored across each competitor's top 6 stages (bottom 2 stages are dropped).

Format Changes

  • 2020: The first of four FMWC stages started in September 2020. All stages contributed to the final standings.
  • 2021: The stage count increased to twelve. The bottom two stages for each competitor were dropped from the final standings.
  • 2022: The stage count decreased to eight. Case authors can not score a higher time bonus than any other player. Stage score normalization was introduced. The prize for top company was eliminated.
  • 2023: For each stage, case authors may not score more points than the best player playing full-time.
  • 2024: Case authors write cases for an entire stage and are automatically awarded 1,000 points for that stage. They can create cases for no more than 1 stage and are ineligible for prize money in the Stage where their cases are used.

Competition Statistics

Year Registrations [lower-alpha 1] Participants [lower-alpha 2] Completed Max Number of Stages [lower-alpha 3] Prize Pool (USD)
2020 [1] 125 117 36 $10,000
2021 [2] 333 307 72 $20,000
2022 [3] 443 402 136 $25,000
2023 [4] 401 363 136 $25,000

Results

Key
2020
Rank Name Nation Age Group 1 2 3 4 Total Prize
Template:Gold1 Joseph Lau  Australia Masters 785 1,285 795 2,670 5,535 $3,000
Template:Silver2 Diarmuid Early  United States Open 825 1,260 1,035 1,650 4,770 $2,000
Template:Bronze3 Andrew Ngai  Great Britain Open 1,160 880 2,670 4,710 $1,000
4 John Lim  Australia Open 605 890 735 2,290 4,520
5 Christian Hueber  Austria Open 470 1,105 805 2,105 4,485
6 Anup Agarwal  India Open 1,000 955 2525 4,480
7 Samir Asadov  Ireland Open 520 1,025 555 2050 4,150
8 Joseph Michael Palisoc  United States Open 655 885 805 1,750 4,095
9 Dan Mayoh  Australia Open 620 875 720 1,850 4,065
10 Willem Gerritsen  Netherlands Masters 655 845 825 1,475 3,800
2021
Rank Name Nation Age Group 1 2 3 4 5 6 7 8 9 10 11 12 Total Prize
Template:Gold1 Diarmuid Early  United States Open 1,170 1,015 1,160 1,165 Template:CellCategory 1,510 1,260 970 Template:CellCategory 1,145 1,440 1,090 11,925 $5,000
Template:Silver2 Anup Agarwal  India Open 1,105 Template:CellCategory 1,460 1,065 865 1,265 835 1,175 Template:CellCategory 1,005 1,550 850 11,175 $2,000
Template:Bronze3 Andrew Ngai  Australia Open 1,200 Template:CellCategory 820 765 1,315 1,265 1,030 1,140 820 1,325 1,300 Template:CellCategory 10,980 $1,000
4 Jeff Heng Siang Tan  Malaysia Open Template:CellCategory Template:CellCategory 1,290 530 1,145 1,230 650 1,250 530 1,460 1,190 1,350 10,625 $500
5 Willem Gerritsen  Netherlands Open 1,275 Template:CellCategory Template:CellCategory 750 885 1,200 1,210 1,070 720 1,060 1,350 850 10,370 $500
6 Michael Jarman  Canada Open 825 820 1,300 Template:CellCategory 895 1,170 895 1,040 867 Template:CellCategory 1,420 1,090 10,322 $500
7 Christian Hueber  Austria Open Template:CellCategory 725 1,130 925 865 830 670 1,035 Template:CellCategory 970 1,305 850 9,305 $500
8 Janis Reinis Beikmanis  Latvia U-25 645 760 840 1,178 795 830 Template:CellCategory 820 Template:CellCategory 765 1,285 1,371 9,289 $350
9 Joseph Michael Palisoc  United States Open 725 Template:CellCategory 675 610 1,015 840 680 840 Template:CellCategory 1,130 1,400 875 8,790 $350
10 Sameer Jagetia  United States Open 705 650 821 685 1,040 945 670 920 Template:CellCategory 950 1,330 Template:CellCategory 8,716 $350
2022
Rank Name Nation Age Group 1 2 3 4 5 6 7 8 Total Prize
Template:Gold1 Laurence Lau  United States Open 1,000 Template:CellCategory 1,000 959 1,000 1,000 Template:CellCategory 978 5,937 $7,000
Template:Silver2 Diarmuid Early  Ireland Open Template:CellCategory 1,000 Template:CellCategory 1,000 885 956 1,000 1,000 5,841 $4,000
Template:Bronze3 Andrew Ngai  Australia Open 847 899 Template:CellCategory 838 971 Template:CellCategory 974 883 5,412 $2,000
4 Michael Jarman  Canada Open 898 Template:CellCategory Template:CellCategory 775 899 956 968 780 5,276 $1,000
5 Willem Gerritsen  Netherlands Open 740 790 Template:CellCategory Template:CellCategory 795 646 788 834 4,593 $800
6 Joseph Michael Palisoc  United States Open 809 Template:CellCategory 737 779 676 Template:CellCategory 840 713 4,554 $750
7 Anup Agarwal  India Open 694 Template:CellCategory Template:CellCategory 712 849 697 840 749 4,541 $700
8 Tim Roberts  Great Britain Open 762 778 593 698 835 Template:CellCategory Template:CellCategory 700 4,366 $650
9 Matthew Fried  Australia Open 821 Template:CellCategory 611 Template:CellCategory 694 646 878 686 4,336 $600
10 Paul Dent  Great Britain Open Template:CellCategory 833 619 734 705 Template:CellCategory 644 794 4,329 $550
2023
Rank Name Nation Age Group 1 2 3 4 5 6 7 8 Total Prize
Template:Gold1 Laurence Lau  United States Open Template:CellCategory Template:CellCategory 1,000 1,000 1,000 1,000 1,000 1,000 6,000 $7,000
Template:Silver2 Diarmuid Early  Ireland Open 917 885 857 993 Template:CellCategory 717 Template:CellCategory 972 5,341 $4,000
Template:Bronze3 Michael Jarman  Canada Open 1,000 685 Template:CellCategory Template:CellCategory 713 683 1,000 818 4,899 $2,000
4 Andrew Ngai  Australia Open 857 943 835 685 Template:CellCategory 675 Template:CellCategory 805 4,800 $1,000
5 Willem Gerritsen  Netherlands Open 895 762 Template:CellCategory 664 Template:CellCategory 663 586 610 4,180 $800
6 Joseph Michael Palisoc  United States Open Template:CellCategory 685 638 Template:CellCategory 651 650 634 850 4,108 $750
7 Paul Dent  Great Britain Open 699 697 710 Template:CellCategory 592 654 Template:CellCategory 649 4,001 $700
8 Michael Clarke  New Zealand Open 669 782 631 Template:CellCategory 614 683 Template:CellCategory 617 3,996 $650
9 Matthew Fried  Australia Open 763 698 530 Template:CellCategory 544 763 Template:CellCategory 617 3,915 $600
10 Harry Gross  Great Britain U-25 586 1000 527 Template:CellCategory 585 Template:CellCategory 500 624 3,822 $550

Microsoft Excel World Championship (MEWC)

2021

The MEWC began in 2021 as the FMWC Open, an Excel Esports tournament. The competition was a standalone event that did not impact the Financial Modeling World Cup Rankings in regular seasons.[1]

The tournament consisted of a Qualification Round, with the top 128 qualifiers advancing to a single elimination tournament. [5]

Qualification rounds began on November 13, and continued into December.[5] The last three rounds of the FMWC Open competition were held on December 11, 2021, and were broadcast on FMWC YouTube channel and ESPN3.[6][7] Andrew Ngai (now representing Australia), Anup Agarwal (India), and Michael Jarman (Canada) returned as quarterfinals qualifiers, and Harry Gross from the UK, Jason Moore from the US, Joseph Palisoc from the US, Sameer Jagetia from the US, and Tim Roberts from the UK also qualified.[8] The final round, entitled "Knights and Warriors", had contestants, each representing a fictional nation, send fictional warriors to conquer each other. Ngai defeated Jarman 734–280, with a maximum of 1,000 points per side.[5]

2022

The FMWC Open was rebranded as the Microsoft Excel World Championship (MEWC). Like its predecessor, it also consisted of a Qualification Round, with the top 128 qualifiers advancing to a single elimination tournament.

Qualification results (Top 50)

In total 377 people took part and 128 qualified for the final round. The best ranked participants of the FMWC ranking, were prequalified.

Rank Name Total Points Time
1 Netherlands Willem Gerritsen 5,000 00:36:50
2 New Zealand Michael Clarke 5,000 00:46:59
3 Canada Michael Holmes 5,000 00:51:01
4 United States Brian Hanley 5,000 00:51:28
5 Spain Alfons Oliver Altes 5,000 00:52:23
6 Canada Justin Merson 5,000 00:54:51
7 United States Britanny Deaton 5,000 00:54:57
8 South Africa Jason Webber 5,000 00:55:02
9 Spain Eduardo Gonazales Arias 5,000 00:55:32
10 United Kingdom Peter Rebecchi 5,000 00:55:57
11 United States David Brown 5,000 00:56:49
12 India Stefanus Ng 5,000 00:59:28
13 United States Diarmuid Early 4,800 00:25:14
14 United Kingdom Paul Dent 4,600 00:50:55
15 France Nicolas Micot 4,600 00:52:31
16 United States Nick McCartney 4,600 00:54:55
17 United States Lianna Gerrish 4,600 00:57:34
18 Belgium Bram Van Eeckhout 4,600 00:58:14
19 Australia Matthew Fried 4,550 00:50:17
20 Spain Isaac Mendez Cortinas 4,400 00:56:55
21 United States Emad Oughourli 4,300 00:59:18
22 United Kingdom Tom Vincent 4,300 01:00:00
23 United States Michael Thanasides 4,300 01:00:00
24 India Dhara Shah 4,200 00:59:28
25 China Ben Gutscher 4,100 00:43:06
26 Australia Toby Funston 4,050 00:59:59
27 United Kingdom David Rosel 4,000 00:45:38
28 United States Dan Seiders 4,000 00:56:40
29 Netherlands Albert Blom 4,000 00:57:31
30 United States Harry Seiders 4,000 00:57:31
31 United States Taylor Robinson 4,000 00:58:23
32 United States Mary Brown 4,000 00:58:23
33 Canada Patrick Chatain 4,000 00:58:43
34 Latvia Aleksandrs Goba 4,000 00:59:00
35 Mexico Ricardo Domínguez 4,000 00:59:09
36 Russia Grigoriy Korkishko 4,000 00:59:28
37 Hungary Zsolt Mogyorósi 4,000 00:59:49
38 United States Joseph Michael Palisoc 4,000 00:59:52
39 United States Luke Moraga 4,000 01:00:00
40 United States Nick Lowman 3,975 00:59:01
41 United Kingdom Jaq Kennedy 3,875 00:59:48
42 Egypt Khaled Habib 3,800 00:59:36
43 United States Ben deLeon 3,800 00:59:39
44 Poland Jakub Pomykalski 3,800 00:59:50
45 France Pierre Sertin 3,675 00:59:50
46 South Africa Steyn Wolmarans 3,600 00:49:04
47 United States Bob Schriver 3,600 00:52:22
48 Austria Christian Hueber 3,600 00:54:19
49 Japan Jason Naniong 3,600 00:57:51
50 United Kingdom Ryan Bains 3,600 00:58:01

Bracket

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2023

The MEWC continued in 2023 with a modified format, the Qualification round was split into nine events, called "Road to Las Vegas" and one Qualification Round. However the 128 final-participants will still be competing in a 1v1 grid. The final of the top 8 will be hosted in Las Vegas.

Qualification results (Top 50)

In total 377 people took part and 128 qualified for the final round. The best ranked participants of the FMWC ranking, were prequalified.

Rank Name Total Points Time
1 United States Brittany Deaton 10000 00:46:24
2 France Nicolas Micot 9915 00:46:45
3 Italy Lorenzo Foti 9715 00:53:52
4 United States Peter Scharl 9115 00:53:41
5 United States Jason Hutcheson 8830 00:58:19
6 Canada Adam Carter 8500 00:57:59
7 United States Katelyn Stienen 9315 01:00:00
8 United Kingdom Elliott Paterson 8200 00:58:07
9 United States Jacob Andrews 8200 01:00:00
10 United States Kyle Sutton 8000 00:57:13
11 United States Johnny Valeriote 8000 00:57:57
12 Canada Michael Holmes 8000 00:58:32
13 France Christophe Belin 7915 00:56:28
14 United States Kenneth Wang 7915 00:59:53
15 United States Jeremy Freelove 7850 01:00:00
16 Spain Alfons Oliver Altes 7700 00:55:16
17 United States Jesi Lipp 7650 00:56:05
18 Philippines Princess Camille Ong 7600 00:59:00
19 United States Harry Seiders 7600 00:59:04
20 Thailand Pakkapong Sricharoen 7600 00:59:22
21 United Kingdom Ben Pridmore 7565 00:51:35
22 United States Ben deLeon 7515 00:55:25
23 United States Sharon Parker 7480 01:00:00
24 United Kingdom Harry Watson 7415 01:00:00
25 Netherlands Lyanne van Dijk 7410 00:57:52
26 South Africa Alwyn Birkholtz 7335 00:49:28
27 United States Shaun McCarthy 7315 00:59:45
28 United States Matt Ficarra 7245 00:59:50
29 United States James Galbraith 7220 00:56:17
30 United States Will Demere 7215 00:59:40
31 United States Riley Flischel 7150 00:57:55
32 Australia Steve Schulz 7150 01:00:00
33 Netherlands Judith Droogsma 6785 00:52:50
34 France Charles Poulain 6715 01:00:00
35 New Zealand Nick Boberg 6700 00:59:01
36 United Kingdom James Blackham 6635 00:58:49
37 Netherlands Martijn Adriaanse 6485 00:59:34
38 United States Matt Melsen 6435 00:58:54
39 United Kingdom Oliver Lambert 6415 00:59:34
40 Italy Sergio Trifiletti 6415 00:59:49
41 Mexico Ricardo Dominguez 6405 00:59:57
42 United States Kristain Lindemann 6400 00:59:40
43 United States Brandon Moyer 6400 01:00:00
44 Template:Country data RFA Grigoriy Korkishko 6345 00:59:18
45 India Prithviraj Mavani 6300 01:00:00
46 United States Andrew Heybruch 6250 01:00:00
47 Hungary Zsolt Mogyorósi 6215 00:59:39
48 Poland Jakub Pomykalski 6200 00:58:45
49 South Africa Jason Webber 6200 00:59:40
50 Chile Juan Cifuentes 6200 00:59:55

Bracket

The 2023 edition had a different format for the last three rounds. The knockout format was used for the first four rounds. The eight participants that won their Round of 16 match qualified for the in-person Finals in Las Vegas, where 8 more players would join them in a last-chance qualification round.

Section 1

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Section 2

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Section 3

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Section 4

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Section 5

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Section 6

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Section 7

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Section 8

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Microsoft Excel Collegiate Challenge (MECC)

Main page: Finance:Microsoft Excel Collegiate Challenge

Other Events

FMWC also holds other events (typically Excel Esports battles). Some events have granted automatic qualification to the MEWC playoff rounds. Some events are livestreamed and can be viewed by the public. These events include (but are not limited to):

Date Event Name Winner Nation Case Name
8 June 2021 888 Battle[9][10][11] Michael Jarman  Canada Cake To Bake
9 September 2021 Battle of 16[12] Diarmuid Early  United States N/A (Multiple)
17 February 2022 Global Excel Summit 2022[13] Jason Webber  South Africa Ludo
18 February 2022 Global Excel Summit 2022[14] David Brown  United States Square of Fortune
31 March 2022 Continent Battle: Asia / Pacific[15] Nick Boberg  New Zealand Minesweeper
24 May 2022 All-Star Battle[16] Andrew Ngai  Australia N/A (Multiple)
30 June 2022 Women's Battle[17] Stephanie Annerose  United States Lottery
28 July 2022 Continent Battle: Africa[18] Gareth Watson  South Africa Tug of War
25 August 2022 Continent Battle: Europe[19] Willem Gerritsen  Netherlands It's a Sequence
23 February 2023 Global Excel Summit 2023[20] Jason Webber  South Africa A Story About the Reels

Notes

  1. ↑ Competitors that have registered for at least one stage, not necessarily for the entire competition
  2. ↑ Competitors that have attempted at least one stage. A stage score of 0 indicates participation, while a blank stage score does not
  3. ↑ Competitors that attempted the maximum number of stages contributing to the final season point total (i.e., The 2021 season had 12 stages, but only the top 10 results determined a competitors season point total. In 2021, 307 competitors participated in at least 10 FMWC stages.)

References

  1. ↑ 1.0 1.1 "FMWC 2020 Rankings" (in en-US). https://www.fmworldcup.com/rankings/season-2020/. 
  2. ↑ "FMWC 2021 Rankings" (in en-US). https://www.fmworldcup.com/rankings/season-2021/. 
  3. ↑ "FMWC 2022 Rankings" (in en-US). https://www.fmworldcup.com/rankings/season-2022/. 
  4. ↑ "FMWC 2023 Rankings" (in en-US). https://www.fmworldcup.com/rankings/season-2023/. 
  5. ↑ 5.0 5.1 5.2 Hachman, Mark (December 10, 2021). "Top Excel experts will battle it out in an esports-like competition this weekend". PCWorld. https://www.pcworld.com/article/559001/the-future-of-esports-is-microsoft-excel-and-its-on-espn.html. 
  6. ↑ Roth, Emma (December 11, 2021). "Watch these Excel pros duke it out in a financial modeling competition". The Verge. https://www.theverge.com/2021/12/11/22829228/excel-pros-financial-modeling-world-cup. 
  7. ↑ Bolding, Jonathan (December 11, 2021). "Watch the world's greatest spreadsheet sorcerers throw down in the World Cup of Microsoft Excel". PC Gamer. https://www.pcgamer.com/watch-the-worlds-greatest-spreadsheet-sorcerers-throw-down-in-the-world-cup-of-microsoft-excel/. 
  8. ↑ Financial Modeling World Cup [@FMWC_]. "📢 Tomorrow, December 11, is the day for the FMWC Open finals!". https://twitter.com/FMWC_/status/1469354417338171395.  Missing or empty |date= (help)
  9. ↑ Matyszczyk, Chris (June 10, 2021). "I just watched Microsoft (try to) make Excel exciting. Recovery won't be easy". ZDNet. https://www.zdnet.com/article/i-just-watched-microsoft-try-to-make-excel-exciting-recovery-wont-be-easy/. 
  10. ↑ Sacco, Dom (June 6, 2021). "Microsoft Excel… esports? UK to take part in 'Financial Modeling World Cup'". Esports News UK. https://esports-news.co.uk/2021/06/06/microsoft-excel-esports-financial-modeling-world-cup/. 
  11. ↑ "Acht experts strijden tegen elkaar in internationale Microsoft Excel-competitie" (in nl). Algemeen Dagblad. June 5, 2021. https://www.ad.nl/esports/acht-experts-strijden-tegen-elkaar-in-internationale-microsoft-excel-competitie~a4496062/. 
  12. ↑ "Battle of 16 – FMWC" (in en-US). https://www.fmworldcup.com/excel-as-esports/battle-of-16/. 
  13. ↑ "Global Excel Summit 2022 - Ludo" (in en-US). https://www.youtube.com/watch?v=KIIREzoMnnY. 
  14. ↑ "Global Excel Summit 2023 - Square of Fortune" (in en-US). https://www.youtube.com/watch?v=l-WEl4AgZFA. 
  15. ↑ "Continent Battle: Asia / Pacific" (in en-US). https://www.youtube.com/watch?v=cXkfKwVSqRg. 
  16. ↑ "All-Star Battle" (in en-US). https://www.youtube.com/watch?v=x1RVNGDSdw4. 
  17. ↑ "Women's Battle" (in en-US). https://www.youtube.com/watch?v=UMakNBf0dyg. 
  18. ↑ "Continent Battle: Africa" (in en-US). https://www.youtube.com/watch?v=kD3iVFvj9XE. 
  19. ↑ "Continent Battle: Europe" (in en-US). https://www.youtube.com/watch?v=1t8yj-NXph8. 
  20. ↑ "Global Excel Summit 2023" (in en-US). https://www.youtube.com/watch?v=NBT6jYdV0Vk. 

External links



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