Tuesday, Apr 29, 2008
The Exchange has updated the contracts rules that cover the death of a political candidate.
Prior to this change any contract listed for a candidate that died would have been declared void, all trades made reversed and all trading fees reversed. Enforcing this rule would have reversed any trading profits accrued by members prior to the death of the candidate, which would have left both members and the Exchange exposed.
Under the new rules, in the event of the death of one of the candidates the following steps will be taken:
1. All contracts in the group will be paused and expired at the last closing price set for each contract
2. A new market will be listed for the remaining candidates
This rules update applies to the following contract groups:
Republican Presidential Nominee
Republican Vice-Presidential Nominee
Democratic Presidential Nominee
Democratic Vice-Presidential Nominee
Presidential Election Winner (Individual)
Presidential Election Combinations
If you have any questions or comment on this please contact the Exchange at help@intrade.com.