1. Players will initially be credited with a notional cash balance as well as a margin account allowing you to buy and sell stocks throughout the trading game.
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2. Players may only trade stocks available for selection in the trading suite for each game and may change their default selection of stocks within the trading suite as many times as they wish.
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3. Trading times for the 'New Vs Old Economy' game will begin at 08:20 LDN a.m. and end at 16:30 LDN p.m. each day. Financial markets are closed at weekends.
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4. All trades are executed at the misi800.com 'ttg bid' or 'ttg ask' price when placed during market hours. Players buy at the 'ttg ask' and sell at the 'ttg bid'.
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5. A notional commission charge will be levied on each successful trade whether buying, selling, opening or closing positions.
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6. The minimum price of any stock that you may trade will be limited to 100p. If a stock already in your portfolio trades below this threshold, you will not be required to liquidate your holding to reflect this parameter.
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7. The maximum holding on any individual stock will be limited, which applies to net buying or selling. After a position is entered into you will not be required to liquidate a position if this parameter is breached due to market movement.
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8. The maximum number of single stock shares you may buy or sell at any one time will be limited to 33% of the traded volume, based on the current or previous days data according to the exchange, whichever number is greater. Please note that some illiquid stocks may be difficult to liquidate if exchange-traded volumes decrease after you have initiated a position.
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9. Stocks exceeding the margin threshold of 200 will be margined at a rate of 50%. A players margin account will be adjusted when buying or selling stocks above this threshold.
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10. A player may not initiate or increase positions once this margin account is depleted. At this point, a player will only be allowed to liquidate stocks or reduce existing positions in order to free up further margin.
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11. Only stocks trading above 200p may be sold short, and will be margined at a rate of 150% of the cash credited to your cash holdings.
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12. Positive cash balances will be credited with a 4% annual interest rate adjusted after the market close and calculated daily. Cash account deficits will be debited at a rate of 8% each day.
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13. Stock splits, de-listings etc will be accounted for at the end of each day. A full reconciliation of player's positions may not occur until after the market close. In some cases, stocks may be temporarily halted from trading until this or any other adjustment process is complete.
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14. No dividends are accounted for within the trading game for all participating players.
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15. On the closing date of the trading game, you are not required to sell your stocks to realise their value. Your portfolio will be valued at the closing ttg bid/ttg ask for each stock on last trading day of the game. Stocks you own will be marked to the 'ttg bid', whereas stocks you have sold short will be marked to the 'ttg ask'.
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16. A trading decision is final once agreed and executed by a player. Positions may not be reversed by misi800.com after a successful execution, however you have 3 working days to alert misi800.com to any discrepancies that may appear in your account. To avoid any problems, please ensure your username and password is kept confidential.
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17. misi800.com reserves the right to make corrections to a players transaction history in the case of errors, all decisions will be final based on information that we believe to be accurate.
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18. misi800.com will not research any questions regarding trades or investment advice once the trading game is underway.
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