Rules and Process

• All trading activity in the JSE Investment Challenge Public Game including, but not limited to transactions, positions and other information is virtual, fictitious and non-binding.
• On registration, a participant virtual portfolio will be credited with virtual cash in the sum of R1 000 000.00 (one million rand). All profits and losses emanating from trading activity in the virtual portfolio will remain virtual and a participant will incur no liability but also will make no real money.
• Orders in the virtual portfolio may only be placed electronically on the JSE Investment Challenge Public Game website.
• Following registration, allocation and log-in of a unique user name and password for each participant, the participant may click on the button titled "Trade/Quote".
• A participant may elect the share name or share code and number of shares that would like to purchase or sell and click on the “Trade” button.
• A participant will elect the number of shares and either click on the “Place Buy Order” or “Place Sell Order” button.
• A participant’s choice must be confirmed by the participant choosing the “Confirm Trade” button.
• The participant may elect to trade again by clicking the “Trade/Quote” button.
• A participant will only be permitted to purchase or sell shares equivalent to 50% (fifty per cent) of the actual number of shares traded on the JSE during any Trading Day. Any orders that exceed this limitation will only be partially filled. If no shares are traded on that Trading Day, the order will automatically be rejected. Trades not executed for any reason at the End of the Day for which the trade was requested will be cancelled.
• Not more than 20% (twenty per cent) of the virtual portfolio held by a participant may be held in any 1 (one) share.
• Orders are processed throughout each trading day based on 15-minute delayed prices. Orders placed before market close (17h00) will be processed on the day that they are placed. Orders placed after market close will be processed the following trading day.
• Orders may only be cancelled if the instruction to do so is received before it has been processed.
• Any cash dividends will only be credited to the virtual portfolio if the shares in respect of that dividend are held on the Last Day of Trade. If distribution of any dividend takes place after the Closing Date, such distribution will not be credited to the participant’s virtual portfolio.
• The disposal (selling) price of the share will be reflected as latest available price at the time the transaction is effected i.e. when the share is sold.
• Virtual brokerage fees will be levied as on a buy and sell transaction in an amount of 1% (one percent) of the value of the shares traded in the virtual portfolio. There is a minimum virtual brokerage charge of R75.00 (seventy five) per transaction.
• Virtual interest at a rate of 6 % (six per cent) per annum or 2 % (two per cent) for the duration of JSE Investment Challenge Public Game will be earned on daily virtual cash balances of the virtual portfolio using the daily balance calculated monthly approach. Virtual interest will be credited to the virtual portfolio on a daily basis.• In addition, virtual charges for Securities Transfer Tax of 0,25% (zero point twenty five per cent); an Investor Protection Levy of 0.0002% (zero point zero zero zero two per cent); a Strate fee of 0.005 % (zero point zero zero five percent) and Value Added Tax will also be levied on all transactions in the virtual portfolio.
• If any flaws and/or technical discrepancies in the JSE Investment Challenge Public Game are discovered by a participant during or relating to the JSE Investment Challenge Public Game these should be reported to the JSE immediately via e-mail game@jse.co.za

General

• The promoter of the JSE Investment Challenge Public Game is the JSE.
• The JSE, its directors, employees, contractors, agents or consultants or any other person who directly or indirectly controls or is controlled by the JSE, or a supplier of goods or services in connection with the JSE Investment Challenge Public Game, or the spouses, life partners, business partners or immediate family members are not eligible to participate in the JSE Investment Challenge Public Game.
• Participants indemnify the JSE against any claims of any nature whatsoever arising out their participation in the JSE Investment Challenge Public Game.
• 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 JSE Investment Challenge Public Game with immediate effect without notice. In this event, all participants 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.
• By participating in the JSE Investment Challenge Public Game, all participants agree to these terms and conditions and agree that the JSE Investment Challenge Public Game results are final in all aspects.
• For further detail on the JSE Investment Challenge Public Game, please e-mail us at game@jse.co.za.