"It's not how right or how wrong you are that matters, but how much dollars you make when right and how much you do not lose when wrong" - George Soros
Finance club of IIM Ranchi presents to you, “Open Outcry Trading” competition, in association with ICICI direct Centre for Financial Learning.
This gives a flavor of Floor trading that used to happen in older days and is still the prevalent system of trading in some of the markets in the US. This is to foster interest towards trading and test the participants on their understanding of the process that goes behind closing and settling the trade.
1. Prelims Round – Virtual Trading (ROUND 1): A Virtual trading competition on electronic trading platform (www.virtualstocks.icicidirect.com). The round will be held for 5 market (trading) days (i.e. 1 week). After the preliminary round, Top 10 teams (2 members per team) will be shortlisted for the on-campus round
Rules of Virtual Trading (Prelims round):
1. The trading starts on 21st September, 2015 and ends on 25th September, 2015.
2. This trading contest is a Team event. (Team of 2 members)
3. Leaderboard will be posted on our Facebook page, daily.
4. Participant teams with the highest aggregate portfolio value, as on 25th September, 2015, will be declared as winners of prelims.
5. User Id and passwords will be communicated to you after registrations.
2. Open Outcry Trading: (On-campus Round - ROUND 2)Winner teams from the prelims round are engaged in a Simulation of a Trading floor (pit) with market makers. Participants use their hand signals & shout their way about buy and sell orders on stocks. Teams with the highest net worth wins!!
On-campus round dates – 03rd & 04th October 2015
Follow our Facebook page for further updates: https://www.facebook.com/AgonIIMRanchi?fref=ts
The account allocated is purely virtual and cannot be liquidated into real money. Any profit / loss made in this contest / game is virtual and only for the purpose of the competition.
The competition shall be active for 5 Days during market hours (09:15 am - 03:30 pm). A trading day is defined as a day when both NSE and BSE are open for trading.
At the start of the contest, Rs. 15 Lakh of virtual money will be allocated to each participant.
The Top 15 teams with the highest Net Worth (cash in hand + value of stocks held) at the end of 5 Days will be the winners of Prelims Round.
Cash segment and margin segment are enabled for this contest.
General Terms & Conditions:
The teams must establish the credentials as and when asked during the contest or at the time of declaring final results.
None of the accidental or unintentional trades will be reversed by ICICI Securities Ltd.
ICICI Securities Ltd. will not be responsible for the technical issues and non-availability of the trading platform at any time during the contest period.
Participant teams will be solely responsible for the trading hours / days lost for non-availability of a trading platform due to the User ID being locked, unlocking of User ID / Password or any other such activity.
ICICI Securities reserves sole and absolute right to alter the rules, if required, to suit the competitive spirit of the contest.
In case of any disputes, the decision of ICICI Securities Ltd. will be final and binding on all the participants.
ICICI Securities reserves sole and absolute right to change the prizes at any given point of time.
ICICI Securities Ltd. and its associates can call, SMS or email participants, even if they are registered under DNC.
Daily Turnover Restrictions: System is designed in such a way that participant teams can place trades only up to a trading turnover of Rs. 3.5 Crore per day. Turnover means the sum total of all the transactions executed on a particular trading day. This includes shares bought and sold on the same day or shares sold today while they were purchased on some other trading day. If a participant exceeds turnover 3.5 Crore on any day of the contest, system will disable the trading of that participant.