Nipissing University Stock Market Challenge Participant Trading Rules
1. Registration Period - The registration dates for the Nipissing University Stock Market Challenge are displayed in the “Contest Parameters” on the “Accounts Balance” page. Nipissing University Stock Market Challenge administration reserves the right to limit or turn off registrations as it deems necessary.
2. Trading Period – The trading period for the Nipissing University Stock Market Challenge is displayed in the “Contest Parameters” on the “Accounts Balance” page. Participants may place orders anytime after market close one business day prior to the Trading Start date. Those orders will execute at the market open on the Trading start Date.
3. Initial Cash Balance - At the beginning of each new challenge, participants will be given an initial cash balance of fictitious funds in their Nipissing University Stock Market Challenge portfolio account that can be used to make simulated buy or sell transactions as described in more detail below. Limit one Nipissing University Stock Market Challenge account per eligible person.
4. Eligible Securities –
The Nipissing University Stock Market Challenge offers a wide variety of over 7,000 stocks. In order to be considered for the Nipissing University Stock Market 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, or in certain simulations, international securities are available. To see which stock exchanges are available for this simulation click on “Trade Stocks” under the “Make a Trade” tab, and then click on the drop down arrow under the heading labeled “Exchange”. If you see other exchanges under “US” then those exchanges are available. To see what the abbreviations stand for click on the “What are these Exchange Codes” link for the full legend.
To verify if this simulation includes other security types (such as Futures, Options, Mutual Funds, Bonds, etc.), hold your mouse over the “Make a Trade” tab and see what other menu options are below the “Trade Stocks” link (each security type will have a separate trading page). As long as a stock is over the minimum price per share then you can buy it. To see what the minimum price per share is, check the Contest Parameters on the Accounts Balance page.
- 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 Nipissing University Stock Market 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 Nipissing University Stock Market Challenge Stock List.
5. Order Types and Trade Execution Stocks -
Market, limit, and stop orders will be accepted for stock orders (as well as option orders where applicable). All orders for North American stocks and/or options are executed at the real-time bid/ask prices as provided by our data vendor when placed during market hours. 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. Each account is limited to a certain amount of trades during the Nipissing University Stock Market Challenge (to verify the maximum # of trades limit, refer to the “Contest Parameters” on the Accounts Balance page).
6. Commissions - Each trade will incur a broker commission fee which will be subtracted from the participants Nipissing University Stock Market Challenge cash balance. The commission fee structure is displayed in the Contest Parameters table on the Accounts Balance page.
7. Buying on Margin - To verify if this simulation permits you to “buy on margin” and if so what the margin requirements are, refer to the Contest Parameters table on the Accounts Balance page. If buying on margin is enabled for this simulation, it means that the participant can borrow additional fictitious funds from the fictitious broker/dealer based on an initial margin requirement percentage and a minimum marginable stock price. When applicable, these margin requirements are displayed in the Contest Parameters table.
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.
10. Cancelling Market Orders - Participants cannot cancel market orders placed during market hours.
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.
12. Discrepancies - Participants should report any account discrepancy within one (1) week from the transaction date. The Nipissing University Stock Market Challenge Support Services Group will, at its sole discretion investigate and adjust any legitimate discrepancy. Discrepancies reported after one (1) week may or may not be adjusted. To contact the Support Services Group click on the link provided on the bottom of the FAQ page and fill out the brief form. Replies are usually sent within 24 hours by return email.
13. Transaction Limits – Participants may invest a maximum percentage of their simulated portfolio value in any one stock. The transaction limits may also vary by security type. To verify the transaction limits which apply to this simulation, refer to the “Contest Parameters” on the “Accounts Balance” page.
14. Day Trading – It is the ability to buy and sell the same securities during the same day. To verify if day trading is permitted during this simulated stock challenge, refer to the “Contest Parameters” on the “Accounts Balance” page. If day trading is permitted, remember that there is a limit on the maximum number of total trades that you are allowed to make during the challenge.
15. Interest – You will earn interest on positive cash balances in your account and interest will be charged to your account for on margin loans. Interest rates for this simulation are displayed in the “Contest Parameters” on the “Accounts Balance” page.
Disputes and Errors:
If you and your teacher believe an error has been made in your portfolio, your teacher may call STOCK-TRAK @1-866-SMS-DESK, toll-free, to discuss the problem. Please review your statements and report any problems right away.
- The management of Stock-Trak, Inc. is not responsible for trades or quote prices that are incomplete, incorrect or not received
- The management of Stock-Trak, Inc. may use various methods (such as time and tape analysis) to resolve disputes.
- The decision made by the management of Stock-Trak, Inc is final.
- Trades that result from cases of stolen passwords, those submitted by a team member without the consent of his or her team mates, and/or trades that result due to human error will not be deleted from accounts.
- The management of Stock-Trak, Inc. has the right to adjust or delete trades that are believed to be incorrect, and the right to terminate any account that they believe may have attempted to exploit, manipulate, or sabotage any part of the SMS trading system and/or web page.
- The management of Stock-Trak, Inc. has the ultimate authority to settle disputes.
- All contest results are subject to a final audit by Stock-Trak, Inc. to verify accuracy of the winner’s trades and portfolios. Stock-Trak, Inc. and the challenge organizers reserve the right to adjust the final rankings and winners, subject to the results of this audit.