Schools Sharemarket Game rules

Please read the Game Rules before applying to participate.

  1. General
  2. Eligible participants
  3. Registration
  4. Playing the Game
  5. Game order processing
  6. Buying and selling shares
  7. Corporate actions
  8. Prize information
  9. Technical requirements

1. General

  1. The organiser of the ASX Schools Sharemarket Game (the 'Game') is ASX Operations Pty Limited ABN 42 004 523 782 ('ASXO'), 20 Bridge Street, Sydney 2000
  2. Participation in the Game is subject to compliance with the General Conditions of the ASX website located at and the Game Rules. Teachers ('Coordinating Teacher') and students should familiarise themselves with the Game Rules prior to making an application to participate in the Game. Completion and submission of an online registration form for the Game located at ('Game Website)', will be deemed to be acceptance of the Game Rules, by the relevant students and Coordinating Teacher, and each will be bound accordingly.
  3. ASXO has sole responsibility for the interpretation of the Game Rules and no correspondence about the interpretation of those Game Rules will be entered into.
  4. ASXO reserves the right to amend the Game Rules at any time without notice.
  5. Coordinating Teachers and participating students acknowledge that the Game is provided for information and educational purposes only. Coordinating Teachers and participating students acknowledge that any information supplied by the ASX Group in relation to the Game applies only to this Game, and such information should have no bearing on how a person should invest money in the sharemarket. Coordinating Teachers and participating students acknowledge that such information does not constitute financial advice or recommendations of any financial products by the ASX Group and that participants should consider obtaining independent advice before making any financial decision.
  6. Coordinating Teachers and participating students acknowledge that the Game Rules do not necessarily correspond with the actual trading requirements of the ASX market, or any other securities market, or any securities regulatory authorities in Australia or elsewhere.
  7. Participants acknowledge that the order queueing, order matching and other trading processes used in the Game do not necessarily correspond with the actual ASX TradeMatch market, or any other securities market.
  8. Whilst every care has been taken in producing information in relation to the Game, neither ASXO, ASX Limited, nor any of the related bodies corporate of ASX Limited (the 'ASX Group') give any representation or warranty as to the reliability, accuracy, or completeness of the information. To the extent permitted by law, the ASX Group and its employees, officers and contractors are not liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided or omitted or from any person acting or refraining to act in reliance on this information. The ASX Group is not liable in any way for errors contained in information posted by users or Game administrators.
  9. The ASX Group is not responsible or liable for any problems or technical malfunction of any telephone network or lines, computer on-line systems, servers or providers, computer equipment or software including but not limited to the failure of a participant's/syndicate's email on account of technical problems or traffic congestion on the internet or at any website or combination thereof, including injury or damage to a school's computer, or a student's computer, or to any other person's computer related to or resulting from participating or downloading materials in this Game, or the participant's/syndicate's inability, difficulty or failure to access any electronic site.
  10. If, for any reason, the Game is not capable of running as planned, including without limitation, infection by computer virus, bugs, tampering, unauthorised intervention, fraud, technical failures, or any other causes beyond the control of the ASX Group, which corrupt or affect the administration, security, fairness, integrity or proper conduct of the Game, ASXO reserves the right in its sole discretion to cancel, terminate, modify or suspend the Game and/or access to the Game at any time by giving notice of the same on the ASX website.
  11. Coordinating Teachers and participating students release and hold harmless the ASX Group and their directors, officers, employees and agents from any and all liability for any injuries, loss or damage of any kind arising from or in connection with the Game or any prize(s) won.

2.  Eligible participants

  1. The Game is open to participation by secondary* school students (Years 7-12) in Australian, New Zealand and International schools (* Primary Year 7 in WA and SA).
  2. All entries are subject to final acceptance by the ASX Sharemarket Game Coordinator ('Game Coordinator'). The Game Coordinator may, in its absolute discretion, reject any registration application.
  3. Students who are home-schooled are permitted to play the Game. However, in order to be eligible for prizes parents must send to the Game Coordinator: 
    a) verification that students are home-schooled; and 
    b) proof of age.
  4. Any documentation sent must be to the satisfaction of ASX before prizes will be awarded. In the event that a student, nominated as a home school student, cannot provide satisfactory documentation the relevant prize will be awarded to the next eligible student. Please note: home schooled student(s) must be of secondary school age(12 to 18 years of age) in order to be able to play the Game. The above details may be sent either via email to or fax to 03 96140303 and addressed to the Game Coordinator.
  5. Registration applications on behalf of primary school students in Year 6 completing advanced studies will be considered on a case by case basis and the Game Coordinator may, in its absolute discretion, accept/reject any such registration application. The Co-ordinating Teacher will need to make a request by emailing the Game Coordinator ( These students will not be eligible for prizes.
  6. New Zealand and International school students will be eligible for major prizes but will not be eligible for State prizes.
  7. Teachers may participate in the Game but will not be eligible for prizes.
  8. All teachers will have their own Game account via their teacher’s Game page. 
  9. A student may enter and play the Game either as an individual syndicate or as part of a group syndicate (henceforth ‘Participant’) which can consist of two (2), three (3) or four (4) students.
  10. Subject to 2.11, a student may only have one (1) entry in the Game. Any student who attempts to register more than one (1) entry for that student, will be in breach of the Game Rules and will be automatically disqualified.
  11. A student may have more than one (1) entry if prior written permission is granted by the Game Coordinator. An example of a circumstance in which permission may be granted is where a student is enrolled in several subjects at the school, each of which requires participation in the Game as a subject requirement. Any requests for more than one (1) entry to be made for any student must be made by the Coordinating Teacher by email to the Game Coordinator. The Game Coordinator has the absolute discretion to accept or refuse such request.
  12. All students must be added as a syndicate via a teachers account. If a student registers themselves as a teacher via a teachers account, this account will be suspended along with all syndicate accounts set up by that student.

3. Registration

  1. Registration for the Game is free.
  2. To enter the Game, the Coordinating Teacher must complete and submit the online registration form ('Registration Form'). The Registration Form can be found on the Game Website from 19 July, 2018.The ASX Group accepts no responsibility for incomplete, late, lost, corrupted, misdirected, misplaced or destroyed Registration Forms, nor for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or unauthorised access to, or alteration of Registration Forms, whether or not caused by this, or some other factor or factors.
  3. Coordinating Teachers must provide details of the school's email address where indicated on the Registration Form. If an email address other than an educational email address is used, the application may not be accepted. It will be up to the Co-ordinating Teacher / registrant to email the Game Coordinator ( to confirm the use of a different email address.
  4. Once registered, the Coordinating Teacher can add students and create syndicates. Individual participants and/or syndicates, as the case may be, may login to the Game Website and can access all the pages of the Game. Participants will not, however be able to begin trading until 16 August 2018.
  5. ASXO may, at any time, deny entry to, suspend access to, or disqualify a Participant from the Game if ASXO:
    a) is unable to contact the Coordinating Teacher who has submitted the Registration Form;
    b) believes or suspects that the Registration form has been, or is submitted by someone other than a Coordinating Teacher; or
    c) otherwise believes or suspects that the Participant intends to, or has been, participating in the Game under a false or misleading identity.
  6. ASXO has the right to shorten or extend the registration period of the Game.
  7. ASXO reserves the right to limit, at its sole discretion, the number of participants in the Game at any stage and without prior notice.
  8. Syndicates may be changed by the Coordinating Teacher at any time prior to the Game starting and up to two weeks into Game play. After this time, Coordinating Teachers wishing to change syndicates must email a request to the Game Coordinator. The Game Coordinator has the absolute discretion to accept or refuse such a request.
  9. Students must choose a name to identify themselves within the Game ('Syndicate Name') and those Syndicate names must be approved and entered by the Coordinating Teacher.
  10. The Game Coordinator reserves the right to alter any names deemed unsuitable, including but not limited to, names that are offensive, defamatory, discriminatory, inflammatory or interfere with a trade mark or other intellectual property right of the ASX Group or third party, or indicate a web or email address.
  11. Syndicate names must not be likely to cause conflict. The Game Coordinator may, in its sole discretion, deem a Syndicate Name to be unacceptable and in the event a name is deemed unacceptable, the Game Coordinator will change the name.

4.  Playing the Game

  1. The first day of trading in the Game is 16 August 2018 and the last day of trading is 24 October 2018 ('Game Period'). These dates are subject to change without notice.
  2. Participants are solely responsible for all acts and omissions that occur under their identifier number and password ('Trading Account and/ or Teachers Account'').
  3. Unauthorised use of another participant’s Trading Account is a breach of the Game Rules and will result in that Participant’s automatic disqualification from the Game.
  4. The ASX Group accepts no responsibility for any transactions resulting from unauthorised access to the Trading Account of any Participant and accepts no liability for any loss, injury or damage resulting from the unauthorised use of a Participant’s Trading Account.
  5. Coordinating Teachers will notify ASXO immediately if any unauthorised use of a Trading Account occurs or is suspected, or if any other breach of security occurs or is suspected.
  6. Without limitation, ASXO also reserves the right to refuse entry to the Game or disqualify any Participant(s) found to be: 
    a) tampering with the entry process, the operation of the Game, the ASX website, or the Game Website;
    b) engaging in practices which, in the sole opinion of the ASX Group, subverts or is intended to subvert the Game Rules;
    c) in breach of the Game Rules;
    d) engaging in insider trading, or market manipulation and/or any other unusual trading;
    e) acting in an unsportsmanlike or disruptive manner, or with intent to annoy, abuse, threaten or harass any other person; or
    f) engaging in any conduct which, in the sole discretion of the ASX Group, is deemed to be contrary to, or in breach of, the spirit of the Game.
  7. Participants acknowledge and agree that, during the Game Period, ASX may:
    a) publish on the Game Website or at any other location, details of the current leaders of the Game including the Syndicate portfolio, Syndicate Name, school and geographic location and
    b) promote the Game through the publication of these details, including on social networking sites such as Facebook, Twitter and other similar sites.
  8. Coordinating Teachers consent to receiving newsletters and other information in electronic or other format, in relation to the Game from the ASX Group or from any third party on behalf of the ASX Group.
  9. Coordinating Teachers acknowledge that the newsletters may, from time to time, contain information that advertises or promotes, or offers to supply, goods or services of the ASX Group or any third party. Coordinating Teachers may unsubscribe from such newsletters or information at any time by utilising the unsubscribe facility provided with the newsletters or information.
  10. Coordinating Teachers and Participants acknowledge that Participants' personal information may be disclosed to the Sponsor for purposes related to the Game.

5.  Game order processing          

  1. An order to buy or sell shares may be placed at any time of the day during the Game Period. Orders will only be processed during the trading hours of TradeMatch, which are usually 10.00am AEST and 4.10pm Sydney time.
  2. Orders in the Game are not matched until they have been matched in TradeMatch. (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 in TradeMatch. Orders placed at ‘market to limit' outside of trading hours will be processed at the opening trade price on the next trading day. ‘Market to limit' orders will be processed within the limitations of the stock volumes available for trading in TradeMatch. ’Market to limit' and 'at limit' orders that can be filled will be processed continuously during the trading hours in TradeMatch.

    * PLEASE NOTE - the Game seeks to emulate certain aspects of TradeMatch, therefore orders placed from approximately 4.00pm to 4.12pm Sydney time may still be on-market trades due to the Closing Single Price Auction (CSPA) that takes place at approximately 4.10pm to 4.12pm Sydney time. Further, when there is a price sensitive announcement received after 4.00pm Sydney time and less than 10 minutes before the CSPA, the security is placed into a pre-open state and will not take part in that day's CSPA. The security will remain in pre-open until the opening auction the following business day.

    Thus, if a security is in a trading halt during the CSPA and an announcement is released that afternoon/ evening to lift the trading halt, the security will re-open with the opening auction the following business day.
  3. Although new orders can be placed and matched in TradeMatch after 4.00pm Sydney time ('Closing Phase'), only "on-market" trades are matched within the Game. The Game does not match Off Market Trades (Late trades or Crossings).

6.  Buying and selling shares

          Company list

  1. Only shares in the companies that are part of the ASX nominated list ('Company List') may be traded.  

    Hypothetical starting cash
  2. Each participant will commence the Game with a theoretical AUD$50,000.00 with which to purchase shares. Surplus funds may be left as 'cash-on-hand'. ASXO reserves the right to amend a participant's 'cash-on-hand' funds if any errors occur. The ASX Group accepts no liability or responsibility for any loss or damage from any error or the correction thereof.

    Diversification rule
  3. A participant cannot place an order for shares in one particular company which would result in the value of the Participant's total holding in that company comprising 25% or more of the Participant's total portfolio value.

    This rule is not breached in the event that the share price of a particular company that is already held by the Participant increases such that it subsequently results in the company comprising 25% or more of the Participant's total portfolio value, accordingly, the Participant is not required to sell that stock. 

    Daily limit on orders
  4. Participants are limited to placing a total of twenty (20) orders or such other number as the Game Coordinator determines before or during the Game, per trading day ('Daily Limit').The "Daily Limit" reflects both the buy and sell orders a participant places. 

  5. Brokerage will be charged against the theoretical trade value on each purchase or sale of stock at the rate of AUD$20.00 for each trade for orders valued up to and including AUD$10,000.00. For each trade over AUD$10,000.00, brokerage at the rate of 0.2% of the trade value will be charged.

    If an order to buy or sell shares is partially filled, brokerage will be charged only on the dollar value of shares that have actually been purchased or sold. The Game will however keep a record of brokerage that a participant was charged when the first partial order to buy or sell shares was executed so that a Participant will pay no more brokerage than the standard rate set out above. For example, if a participant wishes to buy 5,000 XYZ Company shares at AUD$1 each and only 2,600 are filled the Participant will pay AUD$20 brokerage. When the remaining 2,400 shares in XYZ Company are subsequently executed the participant will not be required to pay additional brokerage as the total amount of brokerage paid on 5,000 shares worth AUD$1 each (AUD$20) has already been paid. If a participant ordered 25,000 XYZ Company shares at AUD$1 each and 10,000 are filled (AUD$20 brokerage paid) and the order for the remaining 15,000 is later filled, the Participant will pay brokerage of 0.2% on the outstanding 15,000 XYZ Company shares.

    See more on Buying and Selling here

7.  Corporate actions


  1. Dividends will be calculated automatically and credited to each participant's portfolio after 24:00 hrs. Sydney time of each trading day. Dividends will be paid on the date when the shares go 'ex-dividend'. To receive the dividend a Participant must already have holdings (not merely orders placed) in those shares at the close of trade the day before the ex-date.
  2. The Game's dividend list will be updated every week throughout the Game trading period. If the "ex" date for a dividend has passed before it has been added to the Dividends plus page, then the dividend will be paid retrospectively.

    For more on corporate actions

8.  Prize information

          Prize winners

  1. The prize winning participants will be determined and declared in accordance with the rules set out in the 'Game Prizes' section of the Game Rules. ASXO's decision regarding prize winning Participants is final and no correspondence will be entered into.
  2. To be eligible for a prize, the following conditions must be met: 
    (a) the Participant must have complied with the Terms and Conditions and the Game Rules;
    (b) the Participant must have purchased (bought) shares, within the Game, in at least four (4) different companies over the Game Period. One (1) buy transaction must have been completed by 16 September; and
    (c) the Participant must not have been disqualified from the Game.
  3. Prize winning Participants agree to participate in any publicity ASXO requires from time to time. By accepting a prize, prize-winners automatically grant to the ASX Group the right to use, or to licence the usage of, their proper names, images, renditions and likenesses without further permission or financial compensation to any person, for any promotional purposes unless prohibited by law.

    Game Prizes
  4. At the close of the Game Period, final portfolio values (including 'cash-on-hand' and shares) will be automatically valued using the closing price as stated in the Game on the final day of trading, or such other date as ASXO may determine. Participants are not required to sell their portfolio to realise its value at the end of the Game. ASXO reserves the right to alter this valuation methodology without notice if it determines, in its sole discretion, that the valuation thereby derived is not an accurate or appropriate representation of market value. Participants are responsible for keeping records of their own transactions; however, Participants' final portfolio executed via the Place an order page will be the only evidence of trading accepted by ASXO. 
  5. There will be three (3) major prize winners - first place (1st), second place (2nd) and third place (3rd). The three Syndicates with the highest valued Game portfolios at the end of the Game, as determined by ASXO, will be declared the major prize winners. A cash prize will be awarded to the top three (3) major prize winners.
  6. The three (3) prizes for the Major prize winning Syndicates are as follows:
    1st Prize - $600**
    2nd Prize - $500**
    3rd Prize - $400**

    (** total amount to be equally shared among winning syndicate members).

    State Prizes
  7. State divisions are organized as follows: New South Wales, ACT; Victoria; Tasmania; South Australia; Norther Territory; Western Australia; and Queensland (New Zealand and International schools not eligible).  
  8. There will be one (1) prize winner in each State division. The Syndicate with the highest valued Game portfolio at the end of the Game, as determined by ASXO, will be declared the prize winners in their respective State division.
  9. The prize for the winning syndicate in each State division is as follows: 1st Prize - $400** (** total amount to be equally shared among winning syndicate members).
  10. All prize amounts are in Australian dollars. Prizes are non-transferable and non-assignable.

    Tied results
  11. In the event that there is a tie between two (2) or more final Game portfolio values at the conclusion of the Game such that:
    (a) in any State division, there is more than one (1) Syndicate holding the highest valued Game portfolio; first prize will be shared between those Syndicates
    (b) in the Major division, if there is more than one (1) Syndicate holding the highest valued Game portfolio, the prize money shall be shared on the following basis:

    i. In the event of a tie for first place between two (2) Syndicates, first and second prize will be combined and shared between those Syndicates. The next placed Syndicate will be declared third and receive the prize money for third place.
    ii. In the event of a tie for first place between three (3) or more Syndicates, first, second and third prize will be combined and shared between those Syndicates.  No Syndicate will be declared second or third.
    iii. In the event of a tie for second place between two (2) or more Syndicates, second and third prize will be combined and shared between those Syndicates.  No Syndicate will be declared third.
    iv. In the event of a tie for third place between two (2) or more Syndicates, third prize will be shared between those Syndicates.
  12. The Coordinating Teacher of prize-winning Participants will be notified by email or telephone within three (3) days of determination. Upon notification, the Coordinating Teacher must respond from their registered email addresses within 48 hours, and in such response must provide the legal names of the prize-winning Participants, school name and postal address and any other information requested by ASXO. If the Coordinating Teacher of any potential prize-winning Participant cannot be contacted within three (3) days, or the Participant is otherwise deemed ineligible to receive a prize, the Participant will not receive the prize, and an alternative Participant will be selected according to the standings from all remaining eligible Participants. ASXO will also announce the winners of the Game in a special newsletter on a date to be determined.

9. Technical requirements

  1. To play the Game, participants must have a version of Internet Explorer 9 or above.
  2. Browsers must be configured to accept Cookies and enable Java Script. The Game works best on Chrome and Firefox.
  3. The Game may be played on a mobile device provided it meets the technical specifications required.
  4. Participants acknowledge that the security level for their browsers may need to be set to the standard medium level or lower in order to access the Game. Computers installed with Firewall, anti-virus protection or other security protection programs may also require configuration changes in order to access the Game.
  5. The ASX Group is not obliged to assist with the configuration of individual computer settings or security software.

* Dates subject to change without notice. Participation in the Game is subject to acceptance of the Game Rules.

© Copyright 2018 ASX Operations Pty Limited ABN 42 004 523 782. All rights reserved.