The ASX share market game is conducted bi-annually, each player is assigned a hypothetical AUD$50, 000. This year however due to technical difficulties game one was cancelled. The Australian Stock Exchange’s (ASX) education arm administers the share market game. The share market game has some very specific rules for trading and takes into account actual functioning of the ASX. Therefore, the simulation is very close to actual trading. Below are some specifics of this year’s games rules.
The Trading PeriodThe first day of trading in the Game is Thursday 6 September 2007 and the last day of trading is Wednesday 14 November 2007 (”Game Period”).
Trading hours indeed reflect the true nature of ASX trading hours making the simulation more realistic
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 4.15 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*. (more…)
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