New Jersey SMC Registration Guidelines
Teachers may register no more than 30 teams each. There is a registration fee of $25 per team for the Spring 2010 Stock Market Challenge. However, if you register for 26-30 teams, you will receive a discount of $5 per team, making your registration fee only $20 per team. Purchase orders and/or checks must be mailed to the New Jersey Council on Economic Education, Willis Hall - Room 307, Kean University, Union, NJ, 07083. Payments are expected within 30 days of registering. Checks must be made out to the New Jersey Council on Economic Education.
Teachers must make sure they submit necessary paperwork (i.e. requisitions) to their schools before registering. If you register without receiving appropriate approval from your school district, you will be held responsible for payment.
Teachers are responsible for notifying Melinda Luciano (NJCEE) via email if they wish to delete teams or their full registration.
Student teams (grades 3-12) and Department of Corrections teams must be between 3-5 individuals per team. Adult/College teams may participate individually.
All registrations must be completed by a teacher and/or an adult. Registrations suspected to come from students will be terminated.
Teams wishing to be eligible to become winners must comply with all rules set forth. The top 3 teams in each division, grades 3-12, (with the highest portfolio values) will be awarded at an awards luncheon at the end of the competition.
The NJCEE reserves the right to terminate any account that has not complied with the rules, who is suspected of foul play, or who has registered using false or incomplete information.
New Jersey SMC Rules
1. Registration Fee - The registration fee for the Spring 2010 New Jersey Stock Market Challenge is $25 per team. There should be 3-5 students on each team. Teachers may register no more than 30 teams each. If a teacher registers 26-30 teams, they will receive a discounted price of $20 per team. Teachers must make sure they submit necessary paperwork (i.e. requisitions) to their school districts before registering. If a teacher registers without the approval of their school district, they will be held responsible for full payment.
Teachers/registrants are responsible for notifying the SMC Coordinator, Melinda Luciano, by Thursday, March 11, 2010 if they would like to delete teams, or their full registration. If they do not do so, they will be charged for all teams registered, whether the team portfolio is used or not.
Purchase orders and/or checks must be mailed to the New Jersey Council on Economic Education, Kean University, Willis Hall, Room 307, 1000 Morris Ave., Union, New Jersey, 07083. Payments are expected within 30 days of receiving the invoice. Checks must be made out to the New Jersey Council on Economic Education, or NJCEE. Please note that all registrations must be completed by a teacher or adult. False registrations, or registrations suspected to come from students will be terminated. The New Jersey Council on Economic Education reserves the right to limit or turn off registrations as it deems necessary.
2. Registration Period – Registration for the Spring 2010 New Jersey Stock Market Challenge contest opens on January 11, 2010 and closes March 11, 2010.
3. Trading Period - The Spring 2010 trading period begins February 22, 2010 and ends April 30, 2010.
4. Initial Cash Balance – Participants will be given an initial cash balance of US $100,000 of fictitious funds in their New Jersey Stock Market Challenge account that can be used to make fictitious buy or sell transactions as described in more detail below.
5. Eligible Securities - You may buy, sell, short sell, and short cover almost all NYSE and NASDAQ-AMEX stocks (common and preferred) that are trading at $5.00 or more. IPOs are usually available the afternoon that the new stock starts trading on the exchanges. Mutual Funds: You may buy and sell any of the U.S. Mutual funds listed, regardless of the price and in any denomination. (No 5.00 minimum price as with stocks).
6. Order Types and Trade Execution Stocks - Market and limit orders will be accepted. All orders are executed at the real-time bid/ask prices as provided by our data vendor when placed during market hours.
Due to exchange rules, the web page will display a delayed price estimate of the price until 15-20 minutes has elapsed. The transaction will automatically appear in the Trader's Portfolio and Transaction History.
Market orders placed while the markets are closed or before the market opens will be executed as market conditions permit shortly after the market opens. If the stock requested has not traded that day then the trade will be canceled. Trades placed after market hours can be viewed in the Order History screen. Pending orders can be canceled until 9:25 am ET on the day the trade is scheduled for execution. Pending market orders placed on halted stocks will be canceled if trading does not resume by the end of the day. Limit and stop orders may be placed as "Day" orders which are good for the day only, or as "GTC" orders, which are good until canceled.
If a participant does not have adequate cash or buying power to process a trade, then the numbers of shares will be adjusted to allow the trade to be filled as best it can.
7. Commissions - Each trade will incur a broker commission fee of $25.00 which will be subtracted from the participants New Jersey Stock Market Challenge cash balance.
8. Buying on Margin - Buying on margin is allowed for all securities with a price of $5.00 or higher. This means that the participant can borrow additional funds from the New Jersey Stock Market Challenge based on an initial margin requirement of 50%.
9. Splits, Dividends and other Corporate Actions - Most stock splits, dividends, and other corporate actions reported by the news wires will be accounted for after the markets have closed and prior to the next market opening. These situations may cause account values to be misrepresented until the reconciliation occurs for next open business day.
10. Trading Halts - Halted, restricted, and blocked stocks will not be available for trading. Any trade that is confirmed after trading has been halted will be reversed.
11. Canceling Market Orders - Participants cannot cancel market orders placed during market hours.
12. Discrepancies - Participants should report any account discrepancy within one (1) week from the transaction date. StockTrak will, at its sole discretion investigate and adjust any legitimate discrepancy. Discrepancies reported after one (1) week may or may not be adjusted. StockTrak can be reached at the
Simulation Support Services. Replies are usually within 24 hours by return email.
13. Transaction Limits – Participants may invest a maximum of twenty five (25%) percent of their portfolio value in any one stock. The maximum number of trades allowed for this trading period is 100. Teams may not hold a short and a long position in the same stock at the same time.
14. Day Trading – Day trading is permitted, but remember, you only have 100 trades per trading period.
15. Interest – Interest on positive cash balances in your account earns 3% and interest charged on margin loans are calculated at the rate of 8%.
16. Competition Eligibility – Teams wishing to be eligible to be declared winners must follow the rules above as well as those set forth below:
- All teams must enter at least 1 trade by the 4 p.m., March 12, 2010.
- 1.All teams must have at least 3 different stocks/mutual funds in their portfolio (in the open position) at the end of the Challenge (by 4 p.m., April 30, 2010).
Official winners of the simulation will be notified after all top team accounts have been audited.