user`s - ciese

Transcription

user`s - ciese

U S E R ’ S
G U I D E
Table of Contents
SMGWW Homepage . . . . . . . . . . . 2
Enter The SMG . . . . . . . . . . . . . . . 3
Portfolio Menu Page . . . . . . . . . . . 4
Changing Your Password . . . . . . . 5
Steps for Making a Trade . . . . . . . 5
Investor Research . . . . . . . . . . . . . 6
American Indices. . . . . . . . . . . . . . 6
Enter a Trade . . . . . . . . . . . . . . . . . 7
SMG WORLDWIDE
Welcome to SMG Worldwide (SMG or SMGWW). This new and
improved on-line version of The Stock Market Game™ (formerly
called SMG2000) includes a number of new features, including
access to stock research, help screens on every page of the portfolio,
and Market Mysteries, which are fun activities for students to use
with SMGWW.
Pending Transactions . . . . . . . . . . 7
Account Summary. . . . . . . . . . . . . 8
Account Holdings . . . . . . . . . . . . . 8
Transaction Notes . . . . . . . . . . . . . 9
Transaction History . . . . . . . . . . . 10
GETTING STARTED
To access SMGWW, you must have a computer with Internet access.
Once you are on-line, open your Web browser. In the field for the
URL, location, or Web address, type in www.smgww.org and hit
return.
Gains and Losses . . . . . . . . . . . . 10
Terms You Need To Know . . . . . . 11
Rules of The SMG . . . . . . . . . . . . 13
Copyright © 2000 Securities Industry Foundation for Economic Education. All rights reserved. Provided for educational purposes without warranty expressed or implied.
The Stock Market Game™ User’s Guide
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Welcome to the SMG WORLDWIDE Homepage!
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TIP:
You can always go back to the
SMGWW Homepage by clicking on
the SMG WORLDWIDE Globe.
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ENTER THE SMG - Once you have received a Username
and Password from your Advisor for you and your team,
you can get to your portfolio by clicking on the ENTER THE
SMG button.
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HOW TO ACCESS YOUR PORTFOLIO – Click on this
link to learn how to go to your portfolio of stocks.
SAMPLE SMG PORTFOLIO – Click on this link to see a
sample portfolio, including the main screen, account
holdings, and rankings.
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RULES OF THE GAME – This section lists all of the
national rules for SMG. The national rules can also be
found on the last page of this guide. State Coordinators may
have additional rules for those participating in their state.
Check with your advisor for these rules.
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All students are expected to follow
all national and state SMG rules and
guidelines.
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Enter The SMG
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Your “username” is also known as
your “team ID.”
To get to your portfolio, click on the
ENTER THE SMG button on the
SMGWW Homepage.
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Your username will contain one or
more underscores (_). This is created
by holding down the shift key and hitting the "-" key in the upper right corner of your keyboard.
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Passwords must be entered exactly as
they appear in the e-mail sent to your
advisor. Pay special attention to capitalized letters. Once your team is in
your portfolio, you can change your
password.
Enter your team ID in the Username
box and your password in the
Password box.
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Forgot your password? Ask your
advisor.
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Then click on the ENTER THE
GAME button. This will take you to your
portfolio’s main menu.
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DO NOT share your team password
with anyone except your advisor and
team members. Anyone with access
to your team username and password
can get into your team’s portfolio and
enter trades or change your password.
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Portfolio Menu Page
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To help keep your portfolio secure, SMG
has a built in logoff function. If you
have not sent or received information for
more than 15 minutes, you will automatically be logged out of your portfolio and
will have to re-enter your username and
password to log back in.
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From each portfolio page, you can go to on-line
help screens by clicking on the HELP icon (a question mark). There are help screens for:
• Change Password
• Investor Research
• Enter a Trade
• Account Summary
• Account Holdings
• Pending Transaction
• Transaction Notes
• Transaction History
• Gains and Losses
• Rankings
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From the Portfolio Main Menu, you can access the following.
Trading links - These allow you to research stocks and
companies, make trades, and access portfolio pages:
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•
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Account Summary
Account Holding
Transaction History
Gains and Losses
Investor Research
Enter a Trade
Pending Transactions
Transaction Notes
American Indices
Many of the trading links will be
described in more detail in this
guide.
Change Password - The password assigned to your
team will be a random sequence of capital letters and
numbers. Your team may want to choose a new password that
will be easier to remember. The Change Password screen
allows you to choose in a new password.
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Outside Links - This takes you to a listing of (web) sites
of interest. This includes links to many of the U.S. stock
market exchange home pages, links to educational information on economics and investing, information and research on
stocks, and free software downloads that may be helpful.
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Learning Resource Center - The Learning Resource
Center provides educational materials for teachers to use
in the classroom. NOTE: This icon is not on the student portfolio menus.
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Rankings - This link takes you to SMG rankings, which
show how your team is doing compared to the other
teams in your region and state. Rankings are determined by
the total equity in the portfolios.
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Market Mysteries - This section provides optional fun
activities for you and your team.
Logoff - This link allows you to log out of SMG. It also
gives you the opportunity to log back in by using your
username and password.
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Changing Your Password
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Passwords are upper and lower case
sensitive. For example, if your password is “Stock,” you must enter it with
a capital S; “stock” will not work.
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Type your current (assigned) team password in the box
labeled Your Old Password.
Type in a new password your team has chosen in the box
labeled Your New Password. You may use any combination of letters and/or numbers.
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Type in your new password once again in the Confirm
New Password box.
Once you have filled in all the boxes, click on the
CHANGE MY PASSWORD button. If you entered
your old password incorrectly, you will get a message stating
your old password is invalid. If this happens, hit the back button and re-enter your old password.
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If the password you entered to confirm the change does not
exactly match the new password you entered, you will get a
message: “Please re-enter and confirm password - they do not
match now.” If this happens, click on the OK button and reenter and confirm your new password.
Steps for Making a Trade
Pick a stock. You will need to decide what company or
stock to trade, how many shares to trade, and whether
you want to buy it or short sell it. You can research companies and stocks through the Investor Research link.
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Once you have selected stock, find the ticker symbol (all
trades in SMG are made with ticker symbols). To find
the ticker symbol, go to the Ticker Lookup link in the Investor
Research or Enter a Trade functions.
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The next day, check Account Holdings to make sure that
the trade went through. If it does not appear in Account
Holdings, check Pending Transactions.
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If the trade does not appear in Account Holdings or
Pending Transactions, check Transaction Notes.
Transaction Notes will list every attempted trade. If the trade
went through, it will say “order executed.” If the trade did not
go through, it will explain why. (See Transaction Notes section of this guide for a list of explanations.)
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Go to Enter a Trade and make your trade.
If a stock appears in your Account Holdings that you did
not trade, or a stock you had in your portfolio no longer
appears in Account Holdings, check Transaction History.
This lists all of the activity in your portfolio. Things such as
mergers, dividends, and stock splits will show up here and will
most likely answer any questions you have about the stocks in
your portfolio. Also check Corporate News in Investor
Research to find current information about a company or
stock.
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After you have entered and confirmed your trade, check
Pending Transactions to make sure it is in the system.
At this point, you can cancel your trade if you choose, as long
as it is before the close of market (4 p.m. EST). Trades made
before the close of market should appear in your portfolio the
following morning.
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Trades entered before the close of market (4
p.m. EST) will go through at that day’s closing price. Trades made after the close of
market will go through at the following day’s
closing price.
If you have checked Pending Transactions, Transaction Notes,
and Transaction History and still can not explain why a trade
did not go through or what happened to a stock on your portfolio, ask your advisor for help.
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Investor Research
Your team can research stocks and companies through the
Investor Research section. A wealth of information – from current trading price of the stock to corporate news that may impact
the stock’s price – can be accessed through this section.
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The most-used section of Investor Research is the
Quote Summary. To find the Quote Summary, enter the
ticker symbol in the Ticker box, make sure Quote Summary
is selected, and click on the GO button.
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The Quote Summary includes technical information such as:
• last sale price
• percent change
• previous close
• today’s high
• today’s low
It also includes fundamentals such as:
• P/E ratio
• dividends
• estimated earnings per share
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You can look up ticker symbols for stocks you want to
research or trade by clicking on the Ticker Lookup
link.
And performance indicators such as:
• 52 week high and low
• beta
American Indices
The American Indices section lists a number of common
indices, such as the Dow Jones Industrial Average (DJIA) and
S&P 500, that people use to watch the market. Some of the
indices contain companies from a variety of industries. These
indices are used to indicate general market trends.
Other indices are made up of companies from a particular
industry ( e.g., insurance, technology, etc.). These indices are
used to indicate general trends in that industry.
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Enter a Trade
The Enter a Trade function is where you enter buy, sell, short
sell and short cover transactions.
Select the type of trade you would like to make: buy,
sell, short sell, short cover.
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Enter the ticker
symbol of the
stock you are trading. If
you do not know the
ticker symbol, click on
Ticker Symbol and a
Ticker Symbol Lookup
window will appear.
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Once you have entered the ticker symbol, click on Validate Ticker. A
Ticker Validation window will appear, listing the name of the company and the current trading price.
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Enter the number of shares you want to trade.
Select the Order Type. If you want the trade to go through regardless
of the market price, select Market. If you want to set a price limit,
select Limit. You must then enter a limit price in the Limit Price box.
NOTE: You must enter a dollar amount per share - no fractions.
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You can only sell a stock you
have previously bought. You
can only short cover a stock
you have previously short sold.
Click on the PREVIEW TRADE box. If the trade is correct, enter
your password and click on the CONFIRM TRADE button. If you
would like to edit the trade, click on the EDIT TRADE button.
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Pending Transactions
Pending Transactions is a list of all the trades that have been
entered but have not yet been executed. A trade will appear in
Pending Transactions after it has been entered and will remain
there until it goes through and appears in your portfolio.
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Pending Transactions will list the type of trade you
entered, the number of shares, the ticker symbol, the
limit price (if any), and the date and time the trade was
entered.
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Trades listed in Pending Transactions can be canceled
before the close of market (4 p.m. EST). To cancel a
trade, click on the Cancel Order link.
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Account Summary
The Account Summary provides a financial summary of your portfolio. Important information such as total equity of the portfolio
and buying power are listed here.
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Account Summary displays current portfolio information.
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To view Account Summary
information for a different
day, enter the date (month, day,
year) and click on the Update
Table button. Account Summary
information for the date you
entered as well as today’s information will be displayed.
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Some of the most useful information listed in the Account
Summary are:
Buying Power - the total amount of money available for stock
purchases and short sales when fully extended on margin.
Cash Balance - the amount of money left over from the initial
$100,000. This is the amount of money you have to spend on
buying stock and short sales if you do not want to go out on
margin (i.e., borrow money). A negative amount in the Cash
Balance indicates that you have already bought on margin.
Percent Return - the percent you have gained or lost since the
beginning of the SMG session. If the number is positive, you
have gained; if it is negative, you have lost money.
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For more definitions of terms and
equations, see the Terms You Need
To Know section of this guide.
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Total Equity - the value of your cash and stocks on the long
position. Total Equity is used to determine rankings.
Account Holdings
The Account Holdings provides a listing of stocks currently
held in your portfolio, including their current price and any
unrealized gains and losses.
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If a stock is held in
a short position, the
shares will have a
negative sign (-) in
front of them, indicating that is the
number of shares
owed to the broker.
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Some of the most useful information here is:
Unrealized Gains and Losses - how much money you have
gained or lost on that stock at its current value. A negative
number indicates a loss.
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Option - if you click on the Trade link of the stock you would
like to trade, you will be taken directly to the Enter a Trade
function where you can make your trade.
% Unrealized Gains and Losses - the amount of money
you have gained or lost on that stock as a percentage of the
original cost.
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Transaction Notes
Transaction Notes lists all of the trades your team has entered
during SMG. Any trades that have been processed are marked
“Order Executed.”
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Transaction Notes is the first place to look
when a trade you entered does not appear
in Account Holdings after 24 hours. Any
errors or problems with the trade will be
explained here.
If a trade does not go through, an explanation can be found in the Description column. Possible explanations include:
Account Margin Exceeded by: $. You did not have
enough money for the trade, even if you borrowed the
maximum.
Problem with Order. The order stayed in Pending
Transactions too long and did not go through. If this happens, enter the order again.
Account Position Not Short. You attempted to short
cover a stock that you did not have in your portfolio in a
short position. Remember, you cannot short cover a stock
you have not previously short sold.
Security Not Found on Sec Mast Xref File and OSS Sec
Mast. You attempted to trade a stock that was not in the
system. Usually this means the stock does not trade on one
of the three exchanges used in The SMG. If you receive
this message and are sure the stock is traded on one of the
three exchanges, please have your advisor contact your
state Coordinator.
Cannot Buy a Stock Below $5.00. You attempted buy a
stock that was trading for less than $5.00 per share. This is
not allowed in The SMG.
Could Not Cancel Order. You attempted to cancel an
order that will still in Pending Transactions, but the market
had already closed for the day and the trade could not be
canceled.
Invalid Symbol or Price Feed System Down. If you get
this message, you may have entered the ticker symbol
incorrectly or part of the system may be down. Check the
ticker symbol by using Investor Research and re-enter the
trade. You can also check the ticker symbol by going to
Enter a Trade and using Ticker Lookup or Validate Ticker.
Order Price is Away From Market. You entered a limit
price that was not met.
Order Rejected. You attempted to sell a stock that you did
not own. Remember, you can only sell a stock that you
have previously bought.
Order Canceled. You canceled the trade before the close
of market, while it was still in Pending Transactions.
Symbol Price is Zero on OSS Security Database. There
is no price or historical data for the security listed. You will
get this error message if you attempt to trade a stock that
has been delisted or is not yet listed, e.g., an IPO (see
Terms You Need to Know in this guide).
This is a Possible Error. You will get this message if a
system error occurred during processing. If you get this
message, check Account Holdings the day after you
entered the trade to see if it has been processed. If not, reenter the trade.
Unknown Quote Feed Error. Order Rejected. This message appears if SMGWW experiences difficulties getting a
price from Bridge. If you get this message, re-enter your
trade.
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Transaction History
Transaction History shows all activity that has occurred in
your portfolio during the SMG session, including:
• trades
• interest paid or received
• stock splits
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• commission
• dividends
• mergers or acquisitions
To see transactions from
a certain time period,
input the first date of the range
in the boxes under Show From
and the last date of the range in
the To boxes. When inputting
the year, input all four digits,
not just the last two. If no
dates are entered, the transactions for the last seven days
will be listed.
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Click on the GENERATE
SCREEN REPORT button to get the report of transactions.
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The Transaction History report will list:
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transaction type (e.g., buy)
ticker symbol
cost per share
net amount of transaction
fees and commission
• number of shares
• date of transaction
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Transaction History is where you should look
if you have questions about a stock in your
portfolio (e.g., a stock appears that you didn’t
trade). Transaction History can help you figure
out what happened.
Gains and Losses
Gains and Losses shows all realized gains or losses on stock
trades. Gains (or losses) only become realized when a stock
position is closed, either sold or short covered. Interest
received or paid and dividends received are also considered
realized gains or losses.
The Gains and Losses report will list:
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•
ticker symbol
number of shares
original cost
net cost per share
proceeds
•
•
•
•
net sale price
sale date
gains and losses
gains and losses %
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Any stock that is still held in your portfolio will
not be listed on this page; gains and losses for
stocks still held in the portfolio are unrealized.
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Terms you need to know
Available Equity: The amount of equity available for supporting additional buy and short sell transactions. This is the
most the team can provide for their part of the 50% initial
margin requirement. If this figure is negative, all buy and
short sell transactions will be rejected.
Dividends: Money or shares paid out to those who own
stock as a share of the company’s profits. In SMG, dividends
paid will be listed in Transaction History and will be included in the total equity of the portfolio.
Available Equity = Total Equity - [(Value of Longs +
|Value of Shorts|) x 0.50]
Equity: See Total Equity.
Buying Power: The total amount of money available for
stock purchases and short sales when fully extended on margin. Note that the payment of broker’s fees and interest
charges not only reduces your balance, but also reduces your
ability to borrow.
Buying Power = Available Equity x 2
Cash Balance: The amount of cash left from the initial
$100,000. Once trading begins, the cost of all stock purchases is deducted along with any interest payments and realized
losses. Any interest payments received, dividends, and realized gains are added back to the cash balance. If the cash balance is zero, any new buy or short sell transactions will be
funded through borrowing on margin. If the cash balance is
negative, this is the amount of money borrowed on margin.
Collateral: Property (e.g., stocks in SMG) pledged by a borrower that will be transferred to the lender if the borrower
cannot repay the loan.
Commission Fees: A 2% fee is charged on all stock transactions. The total of all commission fees is listed in the
Account Summary. Each individual commission fee is listed
in the Transaction History.
Commission Fee = Value of Trade x 0.02
Cost Averaging: Averaging the cost of multiple trades
(buys or short sells) of the same security. Like trades of the
same security will be combined into one line in Account
Holdings and Realized Gains/Losses. Cost averaging is done
by dividing the total cost of all like trades in the same security by the total number of shares traded.
Delisted: A stock that has been delisted has been removed
from an exchange and cannot be traded. A company’s stock
may become delisted if it files for bankruptcy, merges with
another company, moves from one exchange to another, or
fails to meet exchange minimum standards. If you try to trade
a stock that has been delisted, your order will be rejected. If
a stock you own is delisted, it will be liquidated and any gain
or loss will appear on the Gains & Losses page.
Initial Margin Requirement: The percent (50% in SMG)
of collateral required to finance a purchase or short sell transaction. The concept of a margin requirement is aimed at: 1)
limiting the amount of money that may be borrowed to
finance trading in stocks (the Federal Reserve sets margin
requirements); and 2) providing protection to the broker making the loan of money (for purchases) or stock (for short sales)
against adverse changes in the market value of the collateral
(long and short positions). See Maintenance Margin
Requirement.
Initial Margin Requirement = (Value of Longs + |Value of
Shorts|) x 0.50
IPO (Initial Public Offering): When a company switches
from being privately owned to publicly owned (or “goes public”), the initial offering of stock for sale is called an IPO.
IPOs will be available for trading after they have been added
to the SMG system.
Interest on Cash: Money received for cash held in a bank
account. In SMG, your average daily cash balance is calculated and you are paid interest weekly at an annual rate of 5%.
Interest on Cash = Cash Balance x (0.05/52)
Interest on Loans: Similar to the interest on cash balances,
your average daily balance of money borrowed on margin is
calculated and you are charged interest weekly at an annual
rate of 7%.
Interest on Loans = Money Borrowed on Margin x (0.07/52)
Liquidate: To liquidate a stock holding, the stock must be
either sold or short covered. To liquidate a portfolio, all open
positions must be closed. You do not need to liquidate your
porfolio at the end of the session.
Long Position: A stock that is bought (versus short sold) is
referred to as being held in a long position. The value of a
stock held in a long position is the current price per share
times the number of shares held. The Value of Longs figure
in the Account Summary shows the current value of all the
stocks in your portfolio that are in the long position.
11
Terms you need to know - continued
Maintenance Margin Requirement: Also known as
Minimum Maintenance, this is the minimum margin requirement (30% in SMG) that a team portfolio must maintain after
borrowing on margin. If the total equity in your portfolio falls
below 30% of the value of your long and short positions, your
team will receive a margin call and you will have to sell or
short cover some of your stocks. Note: For the following formula, use the absolute value (positive value) of the Value of
Shorts.
Maintenance Margin Requirement = 0.30 x (Value of Longs +
|Value of Shorts|)
are willing to sell each share for when selling or short selling
a stock. You may enter a price limit when entering a transaction in the Enter a Trade section. The use of price limits is
optional and serves to protect you against sharp market
movements.
Realized Gains & Losses: The total amount of profit or
loss realized from the sale or short cover of a stock. Interest
received or paid and dividends received are also considered
realized gains or losses. Any stock that is still held in your
portfolio will not be listed in Realized Gains & Losses.
Realized Gains & Losses = Proceeds - Original Cost
Margin Call: A warning that the total equity in your portfolio has fallen below the 30% maintenance margin requirement; a request for additional equity in to meet the maintenance margin requirement. If you receive a margin call, you
will have three weeks to meet the 30% requirement. This can
be accomplished if the value of your holdings increases or by
selling or short covering a stock(s). The proceeds of any sale
or short cover will be used to pay off some of the money you
borrowed (i.e., reduce the amount on margin). If the requirement is not satisfied within three weeks, SMG will sell or
short cover long and short positions, beginning with the lowest priced stocks, until the minimum maintenance requirement is met.
Net Equity Gain: The amount of money your team has
gained or lost since the beginning of SMG.
Net Equity Gain = Total Equity - $100,000
Net Cost/Share: For stocks in the long position, the
amount of money spent on each share of stock, including the
commission. If multiple trades of the same stock were made,
the net cost per share will be an average of the net costs per
share of each trade.
Short Cover: Buying stock to replace the stock you originally borrowed from the broker for a short sell transaction.
When you short cover, you are closing the short position.
Short Position: A stock that has been short sold is referred
to as being held in a short position.
Short Sell: Borrowing shares of a stock from your broker to
sell on the open market. At some point, you must cover the
short or buy enough shares to return those you borrowed.
Short selling is a strategy used by those who think the price of
a stock is going to decrease in the short term. The idea is to
sell the borrowed stock now at a higher price, and once the
value of the stock falls, to buy it to replace the borrowed
stock. The profit is the difference between what is paid per
share and what is received per share. Beware if the price of
the stock begins to rise, because at some point the stock must
be bought back (short covered) and returned to the broker.
The value of a short position is the current price per share
times the number of shares sold short.
Net Cost/Share = price of each share of stock x 1.02
Team Portfolio: A record of all transactions, activity, and
stock positions of a team. It is typically updated daily.
Net Interest: The amount of interest received on a cash balance minus any interest paid on a margin loan. The net interest is listed in the Account Summary and individual interest
activity is listed in Transaction History.
Total Equity: The net value of a team portfolio and the figure on which team rankings are based.
Percent Return: The percent gained or lost in the team’s
portfolio since the beginning of the SMG session.
Percent Return: Net Equity Gain / $100,000
Total Equity = Cash Balance + Value of Longs
Unrealized Gain & Loss: The difference in the initial purchase price of a stock and the current value of the stock. The
gain or loss is unrealized, because the stock has not been sold
or short covered (i.e., the position has not been closed).
Price Limit: The maximum you are willing to pay per share
when buying or short covering a stock or the minimum you
12
Rules of the SMG
Trading Rules
1. Each team begins The SMG with $100,000 in cash and may
borrow additional funds. How much you may borrow is
dependent upon the equity in your account. Interest is
charged weekly on negative cash balances at an annual rate
of 7.00%, and credited weekly on positive cash balances at
an annual rate of 5.00%.
2. You may trade only those common stocks listed on the
American Stock Exchange, Nasdaq Stock Market and the
New York Stock Exchange. You may not trade preferred
stock (those listed with a “pf” after their name in the stock
tables).
3. All transactions are made on the basis of daily closing prices,
which can be found in the next day’s newspaper or by using
the price quote facilities of SMG WORLDWIDE.
4. All buy orders must be a minimum of 100 shares. Sell orders
for less than 100 shares will be permitted.
5. SMG WORLDWIDE does not permit buying stocks that
trade below $5 per share. Such orders will be rejected. Sell
transactions for existing long positions will be accepted,
even if the price is less than $5.00 per share. (There are a
number of reasons for this rule. Low priced stocks, known as
penny stocks, are very risky and volatile investments.
Accordingly, brokers will not permit their customers to trade
such securities on margin, just as SMG WORLDWIDE does
not. Also, penny stocks tend to have very shallow markets
and their prices move sharply with large orders, unlike SMG
WORLDWIDE where transactions are executed at closing
prices regardless of order size).
6. Trades can only be processed in whole and will be rejected if
sufficient buying power does not exist.
7. A 2% broker’s fee is charged for all transactions. For example, if you buy 100 shares of a stock at $10 per share, you
must pay the 2% of $1000 or $20.
8. The SMG is run Monday through Friday. Teams may trade
on any day the participating stock markets are open.
9. Trades entered after close of market (4:00 p.m. E.T.) will be
priced at next day’s closing price.
10. Teams do not have to liquidate their portfolios at the end of
the SMG. Winners will be determined on the basis of the
equity in their portfolios at the end of the final transaction
day. (Some states may use an essay contest to determine
winners).
Short Sell/Short Cover Rules
11. All short sell orders must be for a minimum of 100 shares.
Short cover orders for less than 100 shares will be permitted.
12. SMG WORLDWIDE does not permit short sells on stocks
that trade below $5.00 per share. Such orders will be rejected. Short cover transactions for existing short positions will
be accepted, even if the price is less than $5.00 per share.
(See Rule #6 for an explanation).
Portfolios
13. A record of a team’s portfolio and transactions will be available daily.
14. No back posting of trades will be done for trades of securities not contained within the SMG WORLDWIDE Security
Table. Once the missing security has been added to the
Security Table the security can then be traded. The same
rule applies to trades rejected if they are incorrectly pricing
below $5. Once the pricing has been corrected the stock can
then be traded.
15. Stock and cash dividends and stock splits are automatically
computed into your portfolio. However, you are required to
check them for accuracy. Promptly notify your Coordinator
at their e-mail address of any problems you encounter.
16. Participants of the end of day pricing SMG may delete
pending transactions prior to market close.
Additional Rules
17. Any violation of the rules of the SMG may result in the
invalidation of a transaction. Repeated violation of the rules
may result in the disqualification of a team.
18. Additional rules have been developed in some states and, if
applicable, have been included in your Coordinator’s
Information Page. It is the responsibility of your team to
learn and abide by all rules. You may want to write additional rules here:

user`s - ciese

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