Monday, May 10, 2010
Intrade has listed a market for Spain, Portugal, Italy or Ireland to receive a bailout from the European Union and/or the International Monetary Fund.
This market can be found under Financial > Eurozone Crisis.
Contract Rules:
This contract will settle (expire) at 100 ($10.00) if the country receives a bailout of more than €50 billion from the European Union and/or International Monetary Fund before midnight ET on the date specified in the contract.
The contract will settle (expire) at 0 ($0.00) if the country does not receive a bailout of more than €50 billion from the European Union and/or International Monetary Fund before midnight ET on the date specified in the contract.
Expiry will be based on official statements from the government of the relevant country, the European Union or the International Monetary Fund (IMF), as reported by three independent and reliable media sources.
For purposes of this contract a bailout is considered a loan or grant from the European Union and/or the International Monetary Fund. The contract will be expired once a bailout has been agreed between the parties involved.
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.