Thursday, Oct 23, 2008
Intrade has now listed a market on various countries defaulting on their debts. This market can be found under Financials -- Economic Numbers -- Default of Debts.
Contract Rules:
A contract will settle (expire) at
100 ($10.00) if the country named in the contract defaults on their
debts before 11:59:59pm ET on the date sepcified in the
contract.
A contract will settle (expire) at 0 ($0.00) if the country named in the
contract DOES NOT default on their debts before 11:59:59pm ET
on the date sepcified in the contract.
Expiry will be
based on reports of a default on debt by Rueters, Bloomberg or
other independent and reliable media source.
Due to the nature of this contract please also see Contract Rule 1.7 Unforeseen Circumstances.
The Exchange reserves the right to invoke Contract Rule 1.8 (Time Protection) if deemed appropriate.
Any changes to the result after the contract has expired will not be taken into account - Exchange Rule 1.4
Please
contact the exchange by emailing help@intrade.com if you have any
questions regarding this contract before you place a trade.