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Rules



Please read the Terms and Conditions and Game Rules before applying to participate in the ASX Sharemarket Game.

Terms and Conditions

General

1. The organiser of the ASX Sharemarket Game (“Game”) is ASX Operations Pty Ltd ABN 42 004 523 782 (“ASXO”) 20 Bridge Street, Sydney 2000. The sponsor of the Game is Westpac Securities Limited (ABN 39 087 924 221) Level 1, Westpac Place, 275 Kent Street, Sydney, 2000 NSW (the “Sponsor”).

2. Participation in the Game is subject to compliance with the General Conditions of the ASX website located at https://www.asx.com.au, and the Terms and Conditions of the Game and the Game Rules which are located on the ASX website at https://www.asx.com.au/sharegame (”Game Website”). Participants should familiarise themselves with the Terms and Conditions and Game Rules prior to making an application to participate in the Game. Any person who completes and submits an online registration form for the Game is deemed to accept the Terms and Conditions and Game Rules, and will be bound accordingly.

3. ASXO has sole responsibility for the interpretation of the Terms and Conditions and Game Rules and no correspondence about the same will be entered into.

4. ASXO reserves the right to amend the Terms and Conditions and Game Rules at any time without notice.

5. Participants acknowledge that the Game is provided for information and educational purposes only. Participants acknowledge that any information supplied in relation to the Game applies only to this Game, and such information should have no bearing on how a person should invest money in the sharemarket. Participants acknowledge that such information does not constitute advice or recommendation of any financial products and that participants should consider obtaining independent advice before making any financial decision.

6. Participants acknowledge that the Terms and Conditions and Game Rules do not necessarily correspond with the actual trading requirements of the ASX market, or any other securities market, or any securities regulatory authorities in Australia or elsewhere.

7. Whilst every care has been taken in producing information in relation to the Game, neither ASXO, nor ASX Ltd, nor any of their related bodies corporate ("ASX Group") make or imply any representation or warranty as to the reliability, accuracy, or completeness of such information. The ASX Group is neither responsible nor liable for any incorrect or inaccurate information or incorrect posting of quotes, whether caused by website users or by any of the equipment or programming associated with or utilised in the Game or by any technical or human error which may occur in the processing of submissions in the Game. To the extent permitted by law, no responsibility for any loss (whether in negligence or otherwise) occasioned to anyone acting or refraining from acting as a result of this information and/or the Game is accepted by the ASX Group.

8. The ASX Group is not responsible or liable for any problems or technical malfunction of any telephone network or lines, computer on-line systems, servers or providers, computer equipment or software including but not limited to failure of participants’ emails on account of technical problems or traffic congestion on the internet or at any website or combination thereof, including injury or damage to a participant’s or to any other person's computer related to or resulting from participating or downloading materials in relation to the Game, or participant's inability, difficulty or failure to access any electronic site.

9. If, for any reason, the Game is not capable of running as planned, including without limitation, infection by computer virus, bugs, tampering, unauthorised intervention, fraud, technical failures, or any other causes beyond the control of the ASX Group, which corrupt or affect the administration, security, fairness, integrity or proper conduct of the Game, the ASX Group reserves the right in its sole discretion to cancel, terminate, modify or suspend the Game and/or access to the Game at any time by giving notice of the same on the ASX website.

10. Participants release and hold harmless the ASX Group and their directors, officers, employees and agents from any and all liability for any injuries, loss or damage of any kind arising from or in connection with the Game or any prize(s) won.

Eligible Participants

11. The Game is open to all Australian residents who are natural persons aged 18 years or over in all Australian States and Territories. Employees and their families of the ASX Group and the Sponsor and its related bodies corporate are not eligible to enter and participate in the Game.

12. There is a limit of one (1) Game entry per person in the Game. Any person who registers or attempts to register more than one (1) entry in the Game, will be in breach of the Terms and Conditions and will be automatically disqualified.

12A. A participant who has won the ‘national prize’ in the Game previously conducted by ASXO may participate in the Game; however, that participant is not eligible to win a prize in this Game.

13. The total number of entrants is limited to 20,000. Once this number of entries is received, a message will appear on the Game Website advising that no more entries will be accepted. Notwithstanding the limit set out above, the ASX Group reserves the right, at any time, to deem the registration period for the Game ended by giving notice of the same on the Game Website. The ASX Group also has the right to extend the registration period of the Game.

Registration

14. Entry to the Game is free.

15. Persons wishing to participate in the Game must complete and submit the online registration form to the ASX Group by 12.00 AM EST on 28 July 2009. The online registration form is the only way of entering the Game. Only entries made using the online registration form will be accepted. The online registration form can be found on the Game Website. The ASX Group accepts no responsibility for incomplete, lost, late, corrupted, misdirected, misplaced or destroyed online registration forms, nor for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or unauthorised access to, or alteration of online registration forms, whether or not caused by this, or some other factor or factors.

15a. Once the online registration form is received by the ASX Group, applicants will be advised that their entry has been received via a message on the registration screen. All entries are subject to final acceptance by the ASX Sharemarket Game Coordinator (“Game Coordinator”), and such acceptance will be indicated by the credit of an AUD$50,000.00 theoretical portfolio into the applicant's Trading Account.  Only entrants that have been accepted by the ASX Group may participate in the Game, unless otherwise agreed by the ASX Group in writing. Any participant that allows or enables another person to play the Game using that participant's Trading Account will be in breach of the Terms and Conditions and will be automatically disqualified.

16. The ASX Group may, at any time, deny entry or suspend access to the Game, or disqualify a Participant from the Game if the ASX Group:

(a) is unable to contact the participant who has submitted the online registration form; or

(b) believes or suspects that the online registration form has been, or is submitted by a person other than the person indicated on the online registration form, and such person intends to, or has been, participating in the Game under that false or misleading identity.

17. Participants must choose a name (“Player Name”) to identify themselves within the Game. Player Names must not be offensive, defamatory, discriminatory or interfere with a trade mark or other intellectual property right of any party; or indicate a web or email address.  The Game Coordinator may, in its sole discretion, deem a Player Name to be unacceptable. In the event of a Player Name being deemed unacceptable, the Game Coordinator will, in its sole discretion, change the name. Player Names are restricted to thirty-one (31) alpha and/or numeric characters. Other symbols or special characters will not be accepted.Top

Playing the Game

18. The first day of trading in the Game is 30 July 2009 and the last day of trading is 11 November 2009 (“Game Period”). These dates are subject to change without notice.

19. Participants are solely responsible for all acts and omissions that occur under their username and password (“Trading Account”). Unauthorised use of another participant's Trading Account is a breach of the Terms and Conditions and will result in that participant's automatic disqualification from the Game. The ASX Group accepts no responsibility for any transactions resulting from unauthorised access to the Trading Account of any participant, and accepts no liability for any loss, injury or damage resulting from the unauthorised use of a participant's Trading Account. Participants agree to notify the ASX Group immediately if any unauthorised use of a Trading Account is detected or any other breach of security occurs.

20. The ASX Group reserves the right to refuse entry to the Game, or disqualify any person(s) from the Game, at any time, without notice.  Without limitation, the ASX Group also reserves the right to refuse entry to the Game or disqualify any participant found to be:

(a) tampering with the entry process, the operation of the Game, the ASX website, or the Game Website;

(b) engaging in practices which, in the sole opinion of the ASX Group, subverts or is intended to subvert the Terms and Conditions and/or Game Rules;

(c) in breach of the Terms and Conditions and/or Game Rules;

(d) engaging in insider trading, or market manipulation and/or any other unusual trading;

(e) acting in an unsportsmanlike or disruptive manner, or with intent to annoy, abuse, threaten or harass any other person; or

(f) engaging in any conduct which, in the sole discretion of the ASX Group, is deemed to be contrary to, or in breach of, the spirit of the Game.

21. Participants acknowledge that the ASX Group may use information arising out of the Game, and may pass on the information to the Australian Securities and Investments Commission, or any other regulatory or supervisory authority for regulatory and/or supervisory purposes.

22. Participants acknowledge that, during the Game Period, ASX Group may publish on the Game Website or at any other location, details of the current leaders of the Game including the participant's Player Name and geographic location.

23. Participants consent to receiving newsletters and other information in electronic, or other format, in relation to the Game from the ASX Group or from any third party on behalf of the ASX Group. Participants acknowledge that the newsletters may, from time to time, contain information that advertises or promotes, or offers to supply, goods or services of the ASX Group or any third party. Participants may unsubscribe from such newsletters or information at any time by utilising the unsubscribe facility provided in the newsletters.

24. Participants acknowledge that their personal information may be disclosed to the Sponsor for purposes related to the Game.

Prize winners

25. The prize winning participants will be determined and declared in accordance with the rules set out in the 'Prizes' section of the Game Rules. The ASX Group decision regarding prize winning participants is final and no correspondence will be entered into.

26. To be eligible for a prize, the following conditions must be met:

(a)    the participant must have complied with the Terms and Conditions and the Game Rules;

(b)    the participant must have purchased shares within the Game on four (4) or more separate occasions during the Game Period (a separate occasion being a different time, or a different day);

(c)    the participant must not have been disqualified from the Game;

(d)   the participant must not have won a ‘national prize’ in the public sharemarket game previously conducted by ASXO.

28. Prize-winners agree to participate in any publicity the ASX Group requires. By accepting a prize, prize-winners automatically grant to the ASX Group the right to use, or to licence the usage of, their proper names, images, renditions and likenesses without further permission or financial compensation to any person, for any promotional purposes unless prohibited by law.

29. The ASX Group reserves the right to amend the Terms and Conditions and Game Rules at any time without notice.

Technical requirements

30. To play the Game, participants must have Netscape Navigator 4.0 or Internet Explorer or above. Browsers must be configured to accept Cookies and enable Java Script. Participants that use Apple MAC computers or platforms acknowledge that they may experience difficulties accessing certain sections or using certain functions of the Game.

31. Participants acknowledge that the security level for their browsers may need to be set to the standard medium level or lower in order to access the Game. Computers installed with Firewall, anti-virus protection or other security protection programs may also require configuration changes in order to access the Game. The ASX Group is not obliged to assist with the configuration of individual computer settings or security software.

32. Browsers, such as IE 6 on XP, with pop-up control must allow asx.com.au pages to be displayed as pop-up.

Game Rules
Game trading hours
Buying and selling shares in the Game
Daily limit on orders
Brokerage
Dividends, capital returns and bonus shares
Trading halts, suspensions and delistings
Takeovers and reconstructions
Prizes

Game trading hours

An order to buy or sell shares may be placed at any time of the day during the Game period. Orders will only be matched during the trading hours of the ASX market (which is usually 10.00 AM EST and 4.10 PM EST). Orders in the Game are not matched until they have been matched on the ASX market (i.e. if a participant places an ‘at market’ order to buy or sell a parcel of shares, it will not be executed until there is a match on the ASX market). Orders placed 'at market' when the ASX market is closed will be processed at the opening trade price on the next trading day. 'At market' orders will be processed within the limitations of the stock volumes available for trading in the ASX market.  'At market' and 'at limit' orders that can be filled will be processed continuously from the time the ASX market is open at 10:00 AM EST to the time the ASX market closes at 4:10 PM EST*.

* PLEASE NOTE - the Game seeks to emulate certain aspects of the ASX market, therefore orders placed from approximately 4:00 PM EST to 4:10 PM EST may still be on-market trades due to the Closing Single Price Auction (CSPA) that takes place at approximately 4.10 - 4.12 PM EST Further, when there is a price sensitive announcement received after 4.00pm and less than 10 minutes before the CSPA, the security is placed into a pre-open state and will not take part in that day's CSPA. The security will remain in pre-open until the opening auction the following business day.

Thus, if a security is in a trading halt during the CSPA and an announcement is released that afternoon/ evening to lift the trading halt, the security will re-open with the opening auction the following business day.

Although new orders can be placed and matched on the ASX market after 4.00PM ("Closing Phase"), only "on-market" trades are matched within the Game. The Game does not match Off-ITS Trades (Late trades or Crossings). Top

Buying and selling shares in the Game

Company list
Only shares that are part of the ASX nominated list (the 'Company List') may be traded.  Ordinary shares and bonus shares are the only classes of securities that may be traded in the Game. Other classes of securities such as company options cannot be traded in the Game. Top

Hypothetical starting cash
Each participant will commence the Game with a theoretical AUD$50,000.00 with which to purchase shares. Surplus funds may be left as 'cash-on-hand'. The ASX Group reserves the right to amend a participant's 'cash-on-hand' funds if any errors occur. However, the ASX Group accepts no liability or responsibility for any loss or damage from any error or the correction thereof. Top

Minimum marketable parcel
If a participant wishes to purchase shares in a company, shares can be purchased in any dollar amount. There is no restriction on how many shares or what value of shares may be sold. Top

25% diversification rule
A participant cannot purchase a quantity of shares in one particular company which results in the value of the participant's total holding in that company comprising 25% or more of the participant's total portfolio value at the time of purchase.

This rule is not breached in the event that the share price of a particular company that is already held by the participant increases such that it subsequently results in the company comprising 25% or more of the participant's total portfolio value, accordingly, the participant is not required to sell that stock. Top

Placing an order
At market orders
An order to buy or sell stock in the Game must be placed via the Trading page. Orders can be placed 'at market' or 'at limit'. If an order is placed 'at market', the next price for that stock, after the order is received, will be used to process that order. The quantity of shares requested will be either filled in its entirety or partially filled according to the last volume traded for that stock on the ASX market. Top

At limit orders
If an order is placed 'at limit' the participant must nominate a price at which they are prepared to buy or sell the stock and the order will remain in the 'Orders pending' section of the Trading page until the last sale price (in the case of a buy order) or the last buy price (in the case of a sale order) in the ASX market matches the participant's nominated price. The quantity of shares requested 'at limit' will be either filled in its entirety or partially filled according to the last volume traded for that stock on the ASX market. Top

Stop loss orders
Stop loss orders are not accepted in the Game.

Short selling
Short selling is not accepted in the Game.

Partially filled orders
Orders that are partially filled will remain in the 'Orders pending' section of the Trading page to be processed until a participant amends or cancels the order, or the order is automatically cancelled (see 'Cancellation of Orders' below). If a buy order cannot be filled due to insufficient cash held by the participant the same will be notified in the 'Orders pending' section of the Trading page. Top

Cancellation of orders
An order that is in the 'Orders pending' section may be cancelled by the participant at any time. An order, which remains in 'Orders pending' may be filled at any time. An order may be kept in 'Orders pending' for up to two (2) weeks and will be automatically cancelled after this period. Top

Daily limit on orders

Participants are limited to placing a total of ten (10) orders per trading day (“Daily Limit”). This "Daily Limit" reflects both the buy and sell orders a participant places.  For example, a participant will be prevented from placing more orders if they have already placed 4 BUY orders and 6 SELL orders. Partially filled orders will be counted as one (1) order only. For example, if a participant places an order for 5,000 ABC Company Shares on Monday, and 1,000 is filled on Monday, and the remaining 4,000 is filled on Tuesday, this will count as one order only, and will count towards the limit for the day on which the order was placed. (i.e. Monday).

The Game will prevent participants from placing additional orders once the Daily Limit is reached. In addition, the Game will display a message if a participant attempts to exceed the Daily Limit.

Brokerage
Brokerage will be charged against the theoretical trade value on each purchase or sale of stock at the rate of AUD$30.00 for each trade for orders valued up to and including AUD$10,000.00. For each trade over AUD$10,000.00, brokerage at the rate of 0.3% of the trade value will be charged. To simulate ASX market conditions, the brokerage fees include GST.

If an order to buy or sell shares is partially filled, brokerage will be charged only on the dollar value of shares that have actually been purchased or sold. The Game will however keep a record of brokerage that a participant was charged when the first partial order to buy or sell shares was executed so that a participant will pay no more brokerage than the standard rate set out above. For example, if a participant wishes to buy 5,000 ABC Company shares at AUD$1 each and only 2,600 are filled the participant will pay AUD$30 brokerage. When the remaining 2,400 shares in ABC Company are subsequently executed the participant will not be required to pay additional brokerage as the total amount of brokerage paid on 5,000 shares worth AUD$1 each (AUD$30) has already been paid. If a participant ordered 25,000 ABC Company shares at AUD$1 each and 10,000 are filled (AUD$30 brokerage paid) and the order for the remaining 15,000 is later filled, the participant will pay brokerage of 0.3% on the outstanding 15,000 ABC Company shares. Top

Dividends, capital returns and bonus shares
Dividends
Dividends will be calculated automatically and credited to each participant's portfolio after 24:00 hrs EST of each trading day. Dividends will be paid on the date when the shares go 'ex-dividend'. To receive the dividend a participant must already have holdings (not merely orders placed) in those shares at the close of trade the day before the ex-date.
The Game's dividend list will be updated every Friday throughout the Game trading period. If the "ex" date for a dividend has passed before it has been added to the Market Watch page, then the dividend will be paid retrospectively. Top

Bonus shares
A participant may only be granted bonus shares if those bonus shares are additional shares in the same company, or additional shares in any other company that is on the Company List.  To be entitled to participate in a bonus issue a participant must already hold shares in the relevant company at the close of trade on the day prior to the ex-bonus date. Bonus shares are tradable on the ex-bonus date and cease trading on the dispatch date. Bonus shares will revert to ordinary fully paid shares the day after the dispatch date. The Market Watch Page of the Game provides a list of dates pertaining to each bonus issue of shares in the Game. The ASX Game Coordinator will, in its sole discretion, determine any issues in relation to bonus shares and reserves the right to exclude, wholly or partly, and/or subject to conditions, such bonus shares from the Game. Top

Capital returns
Capital returns will be calculated automatically and credited to each participant's portfolio after 24:00 hrs EST of each trading day. Capital returns will be paid on the "ex return of capital" date. To receive the capital return, a participant must already have holdings (not merely orders placed) in those shares at the close of trade the day before the "ex return of capital" date.  
The Game's capital returns list will be updated every Friday throughout the Game trading period. If the "ex return of capital" date for a capital return has passed before it has been added to the Market Watch page, then the return of capital will be paid retrospectively. Top.

Trading halts, suspensions and delistings
Trading halts
In the event that a stock is placed in a trading halt on the ASX market, the corresponding stock will be placed in a trading halt in the Game. If an order is placed for a stock that is in a trading halt, the order will not be processed until the trading halt is lifted. If a participant currently holds a stock that is in a trading halt, the stock cannot be sold until the trading halt has been lifted. If there is a trading halt on a stock at the end of the Game, the last sale price before the trading halt will be used for final valuation purposes. News of any trading halt will be communicated as soon as practicable on the Trading page. The ASX Group is not liable for any delay in communicating such information to participants. Top

Suspensions
If a company on the Company List is suspended on the ASX market, each participant's holding in that stock will similarly be suspended for the purposes of the Game. The portion of a participant's portfolio allocated to the suspended stock cannot be utilised to acquire any other stock on the Company List until the company either commences trading again or is delisted. For portfolio valuation purposes during any period of suspension, the last sale price on the day of suspension will be used. News in relation to any suspension will be communicated as soon as practicable on the Trading page. The ASX Group is not liable for any delay in communicating such information to participants. Top

Delistings
In the event that a stock is delisted on the ASX market, the corresponding stock will be delisted in the Game. In the event that a company is delisted, participants will receive compensation only if shareholders of that company on the ASX market receive compensation. There can be several reasons why a company has been delisted and it is in the Game Coordinator's sole discretion to decide the appropriate course of action in each individual case. News of any delisting will be communicated as soon as practicable on the Trading page. The ASX Group is not liable for any delay in communicating such information to participants. Top

Takeovers and reconstructions

Takeovers

In the event of a 'full' or 'partial' takeover bid for a company, participants will not be eligible to participate in any takeover offer that would otherwise be available to shareholders of that company on the ASX market. The Game Coordinator has sole discretion to determine what, if any, compensation will be provided to any participant holding stock in a company which is taken over. Top

Reconstructions

A company may change or reorganise the way in which its shares are issued. A company reconstruction may take many forms. One type of reconstruction that can occur is referred to as a 'split'. When a split occurs the quantity of shares on issue increases and the value of each share decreases proportionately. For example, the company may decide to divide each AUD$2 share into two AUD$1 shares, effectively doubling the number of shares on issue and reducing the share price by half. The reverse occurs when a company undergoes a 'consolidation'. For example, the company may decide to increase each AUD$2 share to AUD$4 and halve the number of shares on issue. 

The Game Coordinator has sole discretion to determine whether participants who hold shares in a company that has undertaken a reconstruction, will receive the same terms of that reconstruction as shareholders on the ASX market. Top

Capital Raising

The offer to purchase additional shares under a ‘share purchase plan’ or a ‘pro rata entitlement offer’ is not an offer that is given to players in the Game.

Prizes

National and state prizes

At the close of the Game Period, final portfolio values (including 'cash-on-hand' and shares) will be automatically valued using the closing price as stated in the Game on final day of trading, or such other date as the ASX Group may determine. Participants are not required to sell their portfolio to realise its value at the end of the Game. The ASX Group reserves the right to alter this valuation methodology without notice if it determines, in its sole discretion, that the valuation thereby derived is not an accurate or appropriate representation of market value. Participants are responsible for keeping records of their own transactions, however, a participant's final portfolio executed via the Trading page will be the only evidence of trading accepted by the ASX Group.

There will be three (3) prize-winners in each State division.

State divisions are organized as follows:
NSW (includes ACT); Victoria; Tasmania; South Australia (includes NT); Western Australia; and Queensland

The three (3) participants with the highest valued Game portfolio at the end of the Game in each State [division], as determined by the ASX Group, will be declared the prize winners in their respective State division. The prizes for the

State division are as follows:

1st Prize - AUD$1,000

2nd Prize - AUD$500

3rd Prize - AUD$250

There will be one (1) national prize winner. The participant with the highest valued Game portfolio at the end of the Game in Australia, as determined by the ASX Group, will be declared the national prize winner. In addition to the State prize, the national prize winner will also receive a $5000 Westpac Broking Account. The granting of this prize is subject to Westpac’s Terms and Conditions.

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All prize amounts are in Australian dollars. Prizes are non-transferable, non-assignable and cash alternatives will not be provided.

Tied results

In the event that there is a tie between two (2) or more final Game portfolio values at the conclusion of the Game such that:

  • in any state division, there are more than three (3) participants holding the three (3) highest valued Game portfolios;
  • in the national division, there is more than one (1) participant holding the highest valued Game portfolio,

the tie will be broken by a one (1) week play-off round. The play-off round will begin and conclude on dates determined and notified by the ASX Group on the Game Website. The play-off round will be conducted in accordance with these Terms and Conditions and Game Rules, and the prize winner will be determined by their final portfolio value at the conclusion of the play-off round. Top

Notification of prizes

The prize-winning participants will be notified by email, telephone, and/or courier within fourteen (14) days of such declaration. Prize-winners must respond from their registered email address within forty eight (48) hours of receiving such notification, and in such response must provide their legal name, residential mailing address, phone number and date of birth to be eligible to receive prizes. If any potential prize-winning participant(s) cannot be contacted within seven (7) days after notification, or are otherwise deemed ineligible to receive a prize, the participant will not receive the prize, and an alternate participant will be selected according to the standings from all remaining eligible participants. The ASX Group will also announce the prize-winners of the Game in a special newsletter on a date to be determined. Top



 
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