Tuesday, Apr 27, 2010
Intrade has opened a market on the future of Lloyd Blankfein as CEO of Goldman Sachs.
This market can be found under Financial > Goldman Sachs.
Contract Rules:
This contract will settle (expire) at 100 ($10.00) if Lloyd Blankfein departs as CEO of Goldman Sachs before midnight ET on the date specified in the contract.
The contract will settle (expire) at 0 ($0.00) if Lloyd Blankfein does not depart as CEO of Goldman Sachs before midnight ET on the date specified in the contract.
Expiry will be based on official statements from Lloyd Blankfein or Goldman Sachs, as reported in three independent and reliable media sources.
A departure may include (but is not limited to) resignation, retirement, being fired, being demoted, or being assigned another position within the company. It does not include the appointment by Goldman Sachs of a co-CEO to work with Lloyd Blankfein.
A resignation or retirement does not have to result in Lloyd Blankfein actually departing as CEO of Goldman Sachs by the date specified in the contract. The contract will expire when the resignation or retirement is announced, regardless of when it takes effect. The contract will not be expired if a tendered resignation is not accepted.
This contract covers only the position as CEO. Any departure from other positions held with Goldman Sachs will not be considered when expiring this market.
A departure does not include death. In the event of Lloyd Blankfein's death the contract will be declared void, all trades will be reversed and all trading fees refunded.
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.