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1. Entry to the competition is free and open to “private users” (no professional traders) over 18 years of age at 15 June 2011 except employees and immediate family members of Sake 24, Sanlam iTrade and the Sanlam Investment Cluster. Click here for definitions of Private User, Immediate family member of an employee and Sanlam Investment Cluster. Sake 24 employees may play in the competition, but will not be eligible for prizes.
2. By entering this competition you accept these rules and any change or amendment to the rules as published on the website from time to time as well as the Website Terms and Conditions as set out in Sanlam’s “Terms of Use”. Entrants will be notified of changes by e-mail.
3. Sanlam iTrade reserves the right to change and amend the rules of the competition at any time in their sole discretion. Any change or amendment will be communicated to all entrants via e-mail, but it remains the entrant’s responsibility to regularly check the website for changes or amendments to the rules. By registering for the competition you bind yourself to comply with the rules and all future changes and amendments.
4. Contravening any of the rules can lead to disqualification at the sole discretion of Sanlam iTrade. It is not the responsibility of Sanlam iTrade to notify VPMs of transgression of the rules immediately; VPMs must themselves ensure that they comply with the rules.
Competition start and end date:
5. The competition starts at 9:05 on Wednesday 15 June 2011 and ends at 16:45 on Wednesday 14 September 2011.
Registration details:
6. Registration is already open and can be done at any time up to the closing week of the competition.
7. Only natural persons with valid ID numbers, e-mail addresses and telephone numbers may enter. Persons that do not provide valid information or register more than once will be disqualified.
8. Only one registration per person is allowed.
9. For the purpose of this document a person who registered for the competition is referred to as a Virtual Portfolio Manager or VPM. Each VPM will receive a fictitious portfolio of R1,000,000 on www.sanlamitrade.co.za. VPMs can practice trading before 15 June, but on 15 June all previous trades will be cancelled.
Virtual trading details:
10. All buy and sell transactions can only be executed online and Internet access is therefore required.
11. The object of the competition is to promote medium term portfolio management. VPMs can only invest in the Top 100 shares (plus minus 100) on the JSE as contained in the Top 40 Index and the Midcap 60 Index, as well as ETFs and ETNs. The full list will be published on the website.
12. The VPM must diversify the portfolio and is not allowed to invest more than R250,000 in a single share. The VPM need not sell any shares if it becomes more than R250,000 after purchase, but at the time of purchase the total holdings in that share may not exceed R250,000. Non compliance will lead to disqualification.
13. Orders can be placed at any time, but trading will be take place between 9:05 and 16:45 on JSE trading days. Orders placed after hours will trade at 9:05 at the then ruling price. Virtual trading will not be allowed in the opening and closing auctions, or any other auctions of the JSE as bid and offer prices are then sometimes unreliable. Trades that are concluded in any auction can be reversed when Sanlam iTrade becomes aware thereof.
14. All trades will attract virtual broking fees of 0.5% of the value of the transaction.
15. When buying an instrument, the price at which the trade will take place is the last recorded offer price on the JSE - the best price at which real sellers on the JSE are prepared to sell shares. When selling an instrument, the price at which the trade will take place is the last recorded bid price - the best price at which real buyers on the JSE are prepared to buy shares. The best live offer price will be displayed when selecting “Buy” and the best live bid price will be displayed when choosing “Sell”. There is no volume check, so all trades will be filled at the price explained above.
16. No provisions are made for dividends, rights issues or other corporate actions except where, in Sanlam iTrade’s sole discretion, an adjustment is deemed necessary in exceptional circumstances, not normal dividends etc. Applications for adjustments must be made within 3 working days of the event via e-mail to head@sanlamitrade.co.za.
17. Portfolios cannot be reset during the competition.
18. VPMs hereby agree that their User Names and performance may be displayed on a Leader Board as well as details of their transactions. VPMs must ensure that they choose an acceptable User Name for publication.
19. VPMs hereby agree that their personal details may be used in the media to promote the competition.
Prizes:
20. The winners will be determined only by the virtual cash position at the end of the competition. VPMs must therefore sell all their instruments before the end of the competition to be eligible for prizes.
21. The overall winner is the VPM with the biggest virtual cash balance at the end of the competition. The overall winner wins R100 000 plus free access as an “iTradePro” client with Sanlam iTrade for a year, valid until November 2010. The winner must register online as an “iTradePro” client and comply with all the requirements for registration. The second prize is an iPad and the third prize is an iPhone 3 for the second and third biggest virtual cash balances at the end of the competition.
22. In the event of a tie, the prize money will be split.
23. The top 100 Traders with the biggest virtual cash balances win free access as “iTrade” clients with Sanlam iTrade for six months. Winners must register online as “iTrade” clients and comply with all the requirements for registration.
24. The decision of Sanlam iTrade is final and Sanlam iTrade need not explain their decisions. No correspondence will be entered into.
25. Every VPM is responsible for his or her own tax that may arise as a result of any prizes won. Accordingly, entrants are advised to seek their own taxation or legal advice regarding their participation in the competition. Sanlam iTrade may withhold any portion of prize money for the purposes of taxation if this is deemed necessary.
26. In the case of disqualification, any prize moneys awarded must be refunded to Sanlam iTrade forthwith.
Legal:
27. VPMs are reminded that it is a criminal offence to transgress any of the provisions of the Securities Services Act 36 of 2004. Entrants are specifically reminded that it is a contravention to manipulate real share prices in any way.
28. The competition is a “Best effort” service. Sanlam Private Investments, Sanlam iTrade or its agents will not be held responsible for any interruption, unavailability or technical problem encountered by the website or any communication network, nor any loss of data, orders or other form of communication. Sanlam iTrade does not warrant that access to the website service will be available, uninterrupted, free from delay or error-free, or that any defects in the website will be corrected.
29. If, for any reason, the website does not function as intended due to any cause that affects the administration, website security, fairness, integrity or proper conduct of the competition, Sanlam iTrade is entitled in its sole discretion to cancel or terminate or modify or suspend the competition, or take any other action that may be available. No claim can in such case be instituted against Sanlam Private Investments, Sanlam iTrade, Sake 24 or any of their agents.
30. Sanlam iTrade may in its sole discretion exclude any entrant from participation in the competition in circumstances that in Sanlam iTrade’s sole discretion renders that participant unfit to participate.
2. By entering this competition you accept these rules and any change or amendment to the rules as published on the website from time to time as well as the Website Terms and Conditions as set out in Sanlam’s “Terms of Use”. Entrants will be notified of changes by e-mail.
3. Sanlam iTrade reserves the right to change and amend the rules of the competition at any time in their sole discretion. Any change or amendment will be communicated to all entrants via e-mail, but it remains the entrant’s responsibility to regularly check the website for changes or amendments to the rules. By registering for the competition you bind yourself to comply with the rules and all future changes and amendments.
4. Contravening any of the rules can lead to disqualification at the sole discretion of Sanlam iTrade. It is not the responsibility of Sanlam iTrade to notify VPMs of transgression of the rules immediately; VPMs must themselves ensure that they comply with the rules.
Competition start and end date:
5. The competition starts at 9:05 on Wednesday 15 June 2011 and ends at 16:45 on Wednesday 14 September 2011.
Registration details:
6. Registration is already open and can be done at any time up to the closing week of the competition.
7. Only natural persons with valid ID numbers, e-mail addresses and telephone numbers may enter. Persons that do not provide valid information or register more than once will be disqualified.
8. Only one registration per person is allowed.
9. For the purpose of this document a person who registered for the competition is referred to as a Virtual Portfolio Manager or VPM. Each VPM will receive a fictitious portfolio of R1,000,000 on www.sanlamitrade.co.za. VPMs can practice trading before 15 June, but on 15 June all previous trades will be cancelled.
Virtual trading details:
10. All buy and sell transactions can only be executed online and Internet access is therefore required.
11. The object of the competition is to promote medium term portfolio management. VPMs can only invest in the Top 100 shares (plus minus 100) on the JSE as contained in the Top 40 Index and the Midcap 60 Index, as well as ETFs and ETNs. The full list will be published on the website.
12. The VPM must diversify the portfolio and is not allowed to invest more than R250,000 in a single share. The VPM need not sell any shares if it becomes more than R250,000 after purchase, but at the time of purchase the total holdings in that share may not exceed R250,000. Non compliance will lead to disqualification.
13. Orders can be placed at any time, but trading will be take place between 9:05 and 16:45 on JSE trading days. Orders placed after hours will trade at 9:05 at the then ruling price. Virtual trading will not be allowed in the opening and closing auctions, or any other auctions of the JSE as bid and offer prices are then sometimes unreliable. Trades that are concluded in any auction can be reversed when Sanlam iTrade becomes aware thereof.
14. All trades will attract virtual broking fees of 0.5% of the value of the transaction.
15. When buying an instrument, the price at which the trade will take place is the last recorded offer price on the JSE - the best price at which real sellers on the JSE are prepared to sell shares. When selling an instrument, the price at which the trade will take place is the last recorded bid price - the best price at which real buyers on the JSE are prepared to buy shares. The best live offer price will be displayed when selecting “Buy” and the best live bid price will be displayed when choosing “Sell”. There is no volume check, so all trades will be filled at the price explained above.
16. No provisions are made for dividends, rights issues or other corporate actions except where, in Sanlam iTrade’s sole discretion, an adjustment is deemed necessary in exceptional circumstances, not normal dividends etc. Applications for adjustments must be made within 3 working days of the event via e-mail to head@sanlamitrade.co.za.
17. Portfolios cannot be reset during the competition.
18. VPMs hereby agree that their User Names and performance may be displayed on a Leader Board as well as details of their transactions. VPMs must ensure that they choose an acceptable User Name for publication.
19. VPMs hereby agree that their personal details may be used in the media to promote the competition.
Prizes:
20. The winners will be determined only by the virtual cash position at the end of the competition. VPMs must therefore sell all their instruments before the end of the competition to be eligible for prizes.
21. The overall winner is the VPM with the biggest virtual cash balance at the end of the competition. The overall winner wins R100 000 plus free access as an “iTradePro” client with Sanlam iTrade for a year, valid until November 2010. The winner must register online as an “iTradePro” client and comply with all the requirements for registration. The second prize is an iPad and the third prize is an iPhone 3 for the second and third biggest virtual cash balances at the end of the competition.
22. In the event of a tie, the prize money will be split.
23. The top 100 Traders with the biggest virtual cash balances win free access as “iTrade” clients with Sanlam iTrade for six months. Winners must register online as “iTrade” clients and comply with all the requirements for registration.
24. The decision of Sanlam iTrade is final and Sanlam iTrade need not explain their decisions. No correspondence will be entered into.
25. Every VPM is responsible for his or her own tax that may arise as a result of any prizes won. Accordingly, entrants are advised to seek their own taxation or legal advice regarding their participation in the competition. Sanlam iTrade may withhold any portion of prize money for the purposes of taxation if this is deemed necessary.
26. In the case of disqualification, any prize moneys awarded must be refunded to Sanlam iTrade forthwith.
Legal:
27. VPMs are reminded that it is a criminal offence to transgress any of the provisions of the Securities Services Act 36 of 2004. Entrants are specifically reminded that it is a contravention to manipulate real share prices in any way.
28. The competition is a “Best effort” service. Sanlam Private Investments, Sanlam iTrade or its agents will not be held responsible for any interruption, unavailability or technical problem encountered by the website or any communication network, nor any loss of data, orders or other form of communication. Sanlam iTrade does not warrant that access to the website service will be available, uninterrupted, free from delay or error-free, or that any defects in the website will be corrected.
29. If, for any reason, the website does not function as intended due to any cause that affects the administration, website security, fairness, integrity or proper conduct of the competition, Sanlam iTrade is entitled in its sole discretion to cancel or terminate or modify or suspend the competition, or take any other action that may be available. No claim can in such case be instituted against Sanlam Private Investments, Sanlam iTrade, Sake 24 or any of their agents.
30. Sanlam iTrade may in its sole discretion exclude any entrant from participation in the competition in circumstances that in Sanlam iTrade’s sole discretion renders that participant unfit to participate.
