Who can participate in the JSE's VTG?

The JSE's VTG is open to the general public for anyone who is a South African citizen or who is a resident of South Africa, excluding:

• high school and higher education learners;
• professional traders or if you are working for a stockbroking firm, asset management or wealth management institution;
• directors, officers, employees, contractors, agents or consultants of the JSE , including their spouses, life partners, business partners or immediate family members.

VTG Competition overview

• There are two portfolio competitions within the JSE VTG. They are the Speculator Portfolio and the ETF/ETN Portfolio.
• The starting portfolio per participant will be credited with a virtual sum of R1 million for each portfolio. Participants will not incur any liabilities nor make any real money.
• Participants may invest in any listed companies in the speculator portfolio and Exchange Traded Funds and Exchange Traded Notes in the ETF/ETN portfolio.
• Once purchased, a security must be held for a minimum of one full trading day before it may be sold. The disposal (selling) price will be reflected as the end of day closing price on the date the transaction is affected. i.e. when the share is sold.
• Orders must be placed electronically on the JSE VTG platform https://virtualtradinggame.jse.co.za
• Virtual brokerage fees will be levied on a buy and sell transaction in the amount of 1% of the value of securities traded in the virtual portfolio. There is a minimum virtual brokerage charge of R75,00 per trade. In addition, virtual charges for Securities Transfer Tax (STT) of 0,25% will be levied on share purchase transactions only.
• Virtual interest will be earned on daily cash balances. During the competition, the interest rate will be assumed at 6% per annum or 3% for the duration of the competition.
• Orders placed before the market close (17h00) will be completed at the closing price on the day they are placed, after market close will be completed at the closing price of the following trading day.
• A transaction for a trade can only be reversed provided it is before the market closes (17h00) on the day of the trade.
• Overall performance will be measured on the total value (both shares and cash) of the portfolio after the last day of the competition.

JSE VTG rules

1. Participants need to have executed at least 1 trade every game calendar month (see important dates page) and do a minimum of 15 transactions by the end of the competition. Additionally, participants transaction amounts should add up to at least 75% of the starting capital in order for you to be eligible for the JSE VTG prizes.
2. No more than 10% of the portfolio value may be held in any one company in the FTSE/JSE Top40 or ETFs/ETNs. No more than 5% of the portfolio value may be held in any company outside the FTSE/JSE Top40.
3. Participants will only be permitted to purchase or sell shares 5% in any instrument of the actual number of shares traded on the JSE during any day. Orders which exceed the constraints of this rule will be only partially filled. If no securities are traded, the order will be rejected. Trades not executed for any reason at the end of the day for which the trade was requested will be cancelled.
4. The following corporate actions are the only recognised corporate actions that we will execute (CD) Cash Dividend, (RI) REIT Distribution, (IT) Interest Payment and (IS) Special Dividends. All other corporate actions that takes place the share will be force sold at the last traded price before the corporate action took place. These distributions will be credited to the portfolio if the equities are held on the Last Day of Trade. Credit will take place on the Last Day of Trade. If distribution of the corporate action takes place after the closing date, such distribution will not be credited to the portfolio. In addition, if the declaration of the corporate action falls outside the competition start date, such distribution will not be paid. If you buy or sell shares on Last Trading Date (LDT), the distributions will NOT be credited to the account.

JSE VTG Prizes

Terms and conditions: All prizes will be in the form of investment vouchers. VTG entrants are only eligible to win one prize a year and no more than twice in their lifetime.

Terms and conditions

• During 11th March 2024 to 13th September 2024 (Period) the JSE is conducting the VTG.
• On 18th September 2024 prize winners will be announced by the JSE as per above, based on the overall best performing portfolio from the eligible entrants.
• The prize winner(s) will be contacted by the JSE (or its agent) after the conclusion of the VTG by means of an e-mail to the prize winners via the information provided for registration and participation in the VTG.
• Prize winners shall, where applicable, provide the JSE with the documentation required in order to comply with the obligations set out in the Financial Intelligence Centre Act, No 38, of 2001, as amended.
• The prizes are not transferable and in the event that the prize is not acknowledged and/or claimed for any reason by 1st December 2024, the prize will be awarded to the next best overall portfolio performance chosen by the JSE from the eligible entrants.
• The JSE will be entitled to publish the prize winners names and/or images (at no fee or consideration) on the www.jse.co.za website and/or Facebook and/or Twitter and/or any other JSE social media platform and the prize winners will not be required to endorse, promote or advertise any of the JSE's products or services.
• Due to the nature and target audience of the VTG, minors are not eligible for entry into the Competition.
• The JSE, its directors, employees, contractors, agents, consultants and suppliers assume no liability whatsoever for any direct or indirect loss or damage arising from any aspect of the VTG howsoever arising.
• If required by the appropriate regulatory authorities or if the JSE in its discretion so decides, the JSE shall have the right to terminate the VTG with immediate effect without notice. In this event, all entrants hereby waive any rights which they may have against the JSE and acknowledge that they have no recourse or claim of any nature whatsoever against the JSE, its directors, employees, contractors, agents, consultants and suppliers.
• Entrants and the prize winners indemnify the JSE against any claims of any nature whatsoever arising out of their participation in the VTG.
• By participating in the VTG, all entrants agree to these terms and conditions and agree that the VTG results are final in all aspects
• All personal information which the entrants submit in relation to the VTG are governed by the JSE Privacy Policy https://virtualtradinggame.jse.co.za/VTG/PrivacyPolicy
• All trading activity in the JSE VTG including, but not limited to transactions, positions and other information is virtual, fictitious and non-binding.
• Should participants discover flaws and/or technical discrepancies in the JSE VTG or any element of the VTG platform, these should be reported to the JSE immediately via email or telephonically. Under no circumstances will such flaws and/or technical discrepancies be used to any competition participant's advantage as this could result in the participants immediate disqualification from the VTG.
• VTG participants may only register their names as they appear on their identity documents.
• The JSE reserves the right to change the rules at any time during the JSE VTG at its sole discretion. Rule changes will be communicated via website and on the JSE VTG website. The JSE may, at its direction, accept or reject any application to participate in the JSE VTG or terminate the participation during or after the JSE VTG for any reason whatsoever.
• The interpretation of the Rules is within the sole discretion of the JSE and any decision and/or interpretation in this regard is final and no correspondence will be entered into.