Trader Challenge

The Trader Challenge is open to all New Zealand residents (except employees of NZX or any NZX Market Participant and their immediate families).
Participants can compete either individually or in teams consisting of a minimum of two (2) to a maximum of five (5) members. Each group (or individual) is referred to as a syndicate.
Players from syndicates that register through a school will recieve participation certificates at the close of the challenge.
Schools can register multiple teams and pay in a single payment (see registration page for details).
Terms and Conditions of Play apply.

A registration fee of NZ$30 (inc. GST) per syndicate is payable to NZX upon registration. Online credit card payments only (Visa or Mastercard accepted).
A ‘virtual' brokerage fee of NZ$30 will be charged for each trade in the Challenge which has a value of up to, but not including NZ$10,000. For each trade that has a value of $10,000 or more, a brokerage fee of 0.3% of the trade's value will be charged. Note: this is a ‘virtual' fee, which will be taken only from your ‘virtual' cash in the Challenge game. If a syndicate does not have enough cash to pay the brokerage fee attached to the trade, then this trade will not be made.

This year there will be separate prize divisions for schools and Public (including Universities)

1st Prize
$1500 Smartshares (The specific product will be determined by NZX) for your school, and a senior person from NZX as a guest speaker at an upcoming school event.
NZX Special Award
$1500 Smartshares (as above)
Top 10 School Syndicates
Distinction Certificates

1st Prize
$1500 Smartshares (The specific product will be determined by NZX)

Each syndicate will be allocated $75,000 of virtual cash at the completion of their registration.
Syndicates are only permitted to make one trade per day.
The maximum number of listed companies that shares can be held in is ten (10), while the minimum number that can be held in is five (5).
A portion of a syndicate's portfolio may be set aside as cash as long as the amount of cash does not exceed 25% of a syndicate's portfolio. If a team or individual does not have enough cash to pay the brokerage fee attached to the trade, then this trade will not be made. If any cash is remaining at the completion of the Challenge, this cash will be incorporated into the syndicate's total holdings.
A syndicate cannot purchase a quantity of shares in one particular company which results in the value of the syndicate's total holding in that company comprising 25% or more of the syndicate's total portfolio value at the time of purchase.
This rule also breached in the event that the share price of a particular company that is already held by the syndicate increases such that it subsequently results in the company comprising 25% or more of the syndicate's total portfolio value, accordingly, the syndicate will be required to sell some of the stock to bring the total to less than 25% when making their next trade.
General Trading Rules apply.