Stock, Set, GO! The Scottrade Intern Challenge Participant Trading Rules 1. Registration Period - The Registration period for the first Stock, Set, GO! – The Scottrade Intern Challenge (“The Scottrade Intern Challenge” or “Challenge”) begins on Monday, September 28th, 2009. Scottrade reserves the right to limit or turn off registrations as it deems necessary.
2. Trading Period – The trading period for this simulation begins on October 5, 2009 and ends November 13, 2009. Participants may place orders anytime after market open on October 5, 2009.
3. Initial Cash Balance - Participants will be given an initial cash balance of US $50,000 of fictitious funds in their Scottrade Intern Challenge account for the simulation period that can be used to make fictitious buy or sell transactions as described in more detail below. Limit one Scottrade Intern Challenge account per eligible person.
4. Eligible Securities – Stock, Set, GO! – The Scottrade Intern Challenge game offers a wide variety of over 7,000 stocks and CBOE options. In order to be considered for the Scottrade Intern Challenge stock list, securities must meet specific criteria including pricing, market capitalization and average daily volume. In addition, the security must also be traded on a recognized U.S. marketplace system such as NYSE, AMEX and NASDAQ. Also, there will be a minimum stock price of $0.25.
There are several ways to find out whether your stock or option is on the list: Symbol: If you know the symbol of the security you are interested in, get a quote for that symbol. On the stock quote page, stocks that are on the Scottrade Intern Challenge Stock List will have a trade button. Name: If you know the name of the security you are interested in, you can determine whether or not it is on the Scottrade Intern Challenge Stock List. 5. Order Types and Trade Execution Stocks and Options - Market, limit, and stop orders will be accepted. All orders are executed at the real-time bid/ask prices as provided by our data vendor when placed during market hours. Each account is limited to 100 trades during the first, six week Challenge. Due to exchange rules, the web page will display a delayed price estimate of the price until 15-20 minutes has elapsed. The transaction will automatically appear in the Trader's Portfolio and Transaction History. Market orders placed while the markets are closed or before the market opens will be executed as market conditions permit shortly after the market opens. If the stock requested has not traded that day then the trade will be cancelled. Trades placed after market hours can be viewed in the Pending Orders screen. Pending orders can be cancelled until 9:25 am ET on the day the trade is scheduled for execution. Pending market orders placed on halted stocks will be cancelled if trading does not resume by the end of the day. Limit and stop orders may be placed as "Day" orders which are good for the day only, or as "GTC" orders, which are good until cancelled. If a participant does not have adequate cash or buying power to process a trade, then the numbers of shares will be adjusted to allow the trade to be filled as best it can. Options orders are buying and selling long positions of calls and puts using market, limit and stop orders. For options trading on margin such as writing equity covered and naked calls and puts, appropriate CBOE option margin calculations shall apply.
6. Commissions - Each trade will incur a broker commission fee of $7.00 which will be subtracted from the participant’s Scottrade Intern Challenge cash balance.
7. Buying on Margin - Buying on margin is allowed for all securities with a price of $5.00 or higher. This means that the participant can borrow additional fictitious funds from the fictitious broker/dealer based on an initial margin requirement of 50%.
8. Splits, Dividends and other Corporate Actions - Most stock splits, dividends, and other corporate actions reported by the news wires will be accounted for after the markets have closed and prior to the next market opening. These situations may cause account values to be misrepresented until the reconciliation occurs for next open business day.
9. Trading Halts - Halted, restricted, and blocked stocks will not be available for trading. Any trade that is confirmed after trading has been halted will be reversed.
11. Exercising Options - All options are treated as American-Style options and in-the-money options are exercised automatically on expiry. Options are cash settled. For further details, refer FAQ > Trading > “Options” section.
12. Discrepancies - Participants should report any account discrepancy within one (1) week from the transaction date. StockTrak Group, Inc. will, at its sole discretion investigate and adjust any legitimate discrepancy. Discrepancies reported after one (1) week may or may not be adjusted. StockTrack Group, Inc. can be reached at help-desk{at}stocktrak.com. Replies are usually within 24 hours by return email.
13. Transaction Limits - Participants may invest a maximum of twenty five (25%) percent of their initial portfolio value in any one stock. The maximum number of trades allowed for this trading period is 100.
14. Day Trading – Day trading is permitted, but remember; you only have 100 trades allowed during the trading period.
15. Interest – Interest on positive cash balances in you account earns 3% and interest charged on margin loans are calculated at the rate of 8%.
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