How much of our team’s portfolio can be spent in any share for the Speculator game? No more than 20% of your portfolio value may be invested in a single share i.e. Portfolio Value = R1,200,000.00*20/100 = R240,000.00. However, if you have invested 20% in a specific share and the value increases by 5% making your holdings a total of 25% you will not be disqualified because it was an appreciation of that share and you did not intentionally invest more than what you should have invested.

Is there a minimum cash balance required in the Speculator Game?

No minimum cash balance required

When does the dividend get added to the portfolio?

Dividends will be credited to the portfolios if equities are held on the LDT.

What is the LDT and can a team buy a share on LDT and still receive the dividend?

LDT is the Last Day to Trade to qualify for a dividend. Note that all teams should already be holding the share on LDT date. If you buy a share on LDT the dividend will not be added to your portfolio.

What are the transaction costs for?

These are the amounts that a broker generally charges in order to execute trades. The costs applicable to the game are:

• BROKERAGE - minimum of R75.00 or 1% if trades in excess of R10, 000.00 (Buy & Sell)
• VAT – 14% (Buy & Sell)
• UST – 0.25 (Buy)
• STRATE – R10.60 (Buy & Sell)

How many trades must a team execute in order to be eligible for the annual prize?

In order to qualify for the annual prize a team must have executed 10 trades

At what time must an order be placed?

All orders must be placed before market close at 17:00pm, if orders are place after 17:00pm the order will go through with the next business day’s closing price

Can we cancel an order after 17:00pm?

No, all orders should be cancelled before 17:00pm

What is the interest rate for the game?

The interest rate is based on 11%per annum or 5.5% for the duration of the competition. Interest will be calculated on a daily basis using the daily-balance-calculated-monthly approach.