Thursday, Apr 22, 2010
Intrade has opened a market for the number of bank failures in the United States in 2010.
This market can be found under Financial > Banking.
Contract Rules:
A contract will settle (expire) at 100 ($10.00) if the number of US bank failures during 2010 is the same as or greater than the number specified in the contract.
A contract will settle (expire) at 0 ($0.00) if the number of US bank failures during 2010 is less than the number specified in the contract.
Expiry will be based on the number of US bank failures as reported by the Federal Deposit Insurance Corporation. Their failed bank list can be viewed HERE. The number of failures will be calculated using the Closing Date on this table.
This market will remain open until all bank failures in 2010 have been fully reported.
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 or uncertainty regarding this contract or interpretation of these contract specific rules, related exchange news articles or Exchange Rules before you place a trade.