Directa S.I.M.p.A. is organising the third edition of the on-line University Trading Championship using real funds.
Through of this venture Directa aims to offer students the chance of a real contact with financial markets by means of trading on line.
Each faculty may enter only one team comprising from a minimum of 3 to a maximum of 5 members.
Each team will be able to use the Directa platform with all its add-ons, the Visual Trader technical analysis package and a fund of 5,000 euros, which thanks to leverage will allow investments up to a value of 25,000 euros can be made in shares.
Winner of the University Trading Championship will be the team that at the end of the competition on 5 October 2012 has achieved the best performance.
Any gains realised, net of commissions, will be awarded to the team leader(account holder).
Other awards and recognitions may be organised at the discretion of Directa during the Championship.
Directa will award a contribution of 20,000 euros, utilisable for didactic and/or research purposes, to the faculty of the winning team.
Team members must be students born after 31 December 1984 and enrolled in
a degree course at any European university or equivalent school at university
level.
To participate they should contact their faculty's reference tutor, who will provide Directa with a list of effective team members. Students who already participated in the previous edition may not participate again.
Each faculty may enter only one team, with from 3 to 5 participants, one of whom is appointed team leader and who must open a Direta account (free-of-charge)
The entry form must be completed, signed and sent by mail to Directa S.I.M.p.A. - Via B. Buozzi 5 - 10121 Turin - Italy
It must be accompanied by:
- a photocopy of a clearly legible ID document and tax code for all participants;
- the registration form required to open a Directa account with the team leader's full details.
Teams may enter after the Championship period has started but no later than 30 April 2012. Teams may only participate in the competition if the team leader has signed the contract with Directa S.I.M.p.A. concerning utilisation of funds made available for the team's transactions.
Each team must indicate the team name used to participate in the competition. Directa reserves the right at its sole discretion to request this name to be changed in cases where it is felt to be inappropriate or has already been used.
The Championship will begin on 12 March 2012 and end on 5 October 2012.
The Directa account will be in the name of the team leader from whom all other team members must receive a proxy enabling them to operate on the account.
Directa will deposit the sum of 5,000 euros on each team's account.
No assignments or withdrawals may be made until the Championship is over - any team attempting to do so will be expelled from the competition.
Teams that lose 40% or more of their initial capital will be withdrawn from the competition.
If requested, teams must submit a brief written comment on their past week's activities and their plans and forecast for the remainder of the competition period.
Participants must close all their positions by 12.00 on 5 October 2012, the last day of the Championship. If they fail to do so Directa, at its sole discretion, will do so from 12.00 onwards.
Participants' accounts will be subject to a tax declaration. Directa will provide team leaders with all necessary documentation for the correct calculation of any tax payment due.
Transactions can be made on all markets accessible from the Directa platform.
The winning team will be the one with the highest balance at the end of the Championship after all positions have been closed.
Any gain realised, net of commissions, will be awarded to the team leader (account holder).
Other awards and recognitions may be organised at the discretion of Directa during the Championship.
Directa will award a contribution of 20,000 euros, utilisable for didactic and/or research purposes, to the faculty of the winning team.
Participants agree to compete in a correct manner and in good faith, in conformity with instructions issued by supervisory authorities, regulations in markets where they operate and contractual commitments made to Directa.
The first 5,000 euros of liquid funds on the account will be due to Directa. After deducting the latter any gain will be payable to the account holder and transferred to the bank account indicated in the contract, whereas if the balance is less than 5,000 euros the loss will remain for the account of Directa.
Temporary rankings will be calculated and updated to the Friday before data are published for the entire duration of the Championship.
These temporary rankings will be published on the site www.universiadideltrading.com and released to the media every week throughout the Championship period.
By entering the Championship, in accordance with Law Decree 196 of 30 June 2003, participants authorise the dissemination and publication of their identity and a summary and detailed information concerning their transactions and overall situation. All information may be made available on the site www.universiadideltrading.com together with comments on transactions submitted by the teams themselves.
Directa S.I.M.p.A. will monitor the Championship to ensure it proceeds in a correct manner and may, at its sole discretion, decide to inflict penalties and sanctions, even including expulsion from the competition, and will announce the winners.
During the Championship period participants may submit written complaints to Directa concerning any irregularity they believe has damaged them or, in any event, that they learn about. Complaints must be sent to the address <mailto:unitrader@directa.it>unitrader@directa.it by no later than 5 days after the end of the Championship. Directa will review these before announcing the winners and in any event will reply to the senders. Its decisions shall be considered final and not open to appeal.
Directa reserves the right to modify these regulations during the course of the Championship if it believes this will make the venture more successful.
The Court of Turin shall be deemed competent for any legal dispute.
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