Terms and Conditions FX Trade OFF

FX Trade Off

BANK OF IRELAND FX TRADE OFF COMPETITION RULES

Note: These Competition Rules (the “Rules”) apply to the FX Trade Off Competition (the “Competition”) organized by Bank of Ireland Global Markets, a division of The Governor and Company of Bank of Ireland (registered office – 40 Mespil Road, Dublin 4, Ireland).

  1. Entrants must be students from any third level institution in Ireland. All participants must be enrolled for the duration of the Competition at the college identified in the registration form. Details of the applicable third level institution and the student number have to be provided upon registration. Bank of Ireland reserves the right to request official student enrolment verification at any time before, during or after the Competition.
  2. In the Competition there are 1,000 places available. Upon registration, Students will be asked to sign up to a waiting list. The first available places will be given to Students who attend the Bank of Ireland Launch Nights (24th September 2018 – 1st October 2018). The Launch Nights will be advertised through the Societies in the universities and leaflets/poster distributed throughout the universities and Bank of Ireland branches. The rest of the available places will, in general, be distributed  on a first come, first served basis. However, Bank of Ireland reserves the right to distribute the places on a discretionary basis in order to ensure all universities/societies are represented in the Competition. Students will receive an e-mail confirmation after successful registration. Registration for the Competition opens 17/09/18 and closes on 03/10/18. All entries must be completed on the official registration form. Entries which are altered, illegible or not in accordance with these Rules will be disqualified. The Competition will start on 5th October 2018 and will run for 5 weeks, until the close of business on 9th November US Eastern Time (10.00pm GMT).
  3. The Competition is organized and run by Bank of Ireland with the assistance of a third party, Hippo Financial Limited (“Share Navigator”), an Irish company located at The Invent Building, Dublin City university (DCU), Glasnevin, Dublin 9, Ireland. The website through which the Competition will be conducted is provided by Share Navigator. Further information on Share Navigator and the use of their website can be found at https://www.sharenavigator.ie/fx-trade-off/ and/or boi.com/fxtradeoff
  4. When processing Students personal data, Bank of Ireland complies with its obligation under the applicable data protection legislation. Bank of Ireland’s Data Privacy Notice sets out (i) the information the Bank collects about the Students; (ii) how the information is used; (iii) who the information is shared with; and (iv) how Students can control the use of their information and exercise their rights. A copy of the Bank’s Data Privacy Notice can be found at www.bankofireland.com/privacy.
  5. Bank of Ireland would like to send registered Students information on available job/intern opportunities within the bank. Upon registration, Students can opt-in in to receiving such information. Students are free to withdraw their consent at any time by simply contacting GMUnsubscribe@boi.com.
  6. All entry conditions and instructions are deemed to form part of these Rules.
  7. Employees of the Bank of Ireland Group, its associated companies, advertising and marketing consultants, agents and anyone connected with the Competition are not eligible to enter the Competition.
  8. All entrants agree to the use of their names, colleges and/or photographs for publicity purposes.  Entrants also agree that their names and colleges may be disclosed by Bank of Ireland to its agents for the purpose of administering the Competition and/or distributing the prizes.   
  9. Competition Specifications: Competition is open to all third level students attending college in Ireland and there is no entry fee. All students will be provided with a login for a paper (demo) trading account, with $1,000,000 notional available to trade based on pricing from Interactive Brokers. It is a replica of real financial markets, with costs incurred to the demo account for commissions, fees, slippage and foreign exchange spreads when the students place trades. Only FX trades are allowed for the purposes of the Competition.  Students are permitted to make no more than 300 trades per week on the trading platform. If students are found to have breached the permitted number of trades they will be contacted and, in the case of a continuous breach, removed from the Competition. The winner of the Competition will be the entrant with the highest Time Weighted Rate of return.
  10. The winners of the Competition will be notified by e-mail and posted on boi.com/fxtradeoff within 3 business days of the closing date. Prizes include:
    • Internships / Graduate Mentoring (details will be discussed directly with the winning participants. The specific set-up (i.e. duration) is subject to business needs)
    • Cash Prize
      • 1st Place: 1,500 Euro
      • 2nd Place: 1,000 Euro
      • 3rd Place: 750 Euro
      • 4th Place: €500
      • 5th Place: €250
    • Intervarsity cash prizes. Societies from the following colleges will be eligible to win €3,000 prize for best society in their respective college; DCU, NUIG, TCD, UCC, UCD, UL.
    • Societies from the above 6 colleges and CIT, Tralee IT, Athlone IT, Mary I and GMIT are eligible to win €10,000 prize for the best society in Ireland. This prize goes to the society with the highest return on investment from their top ten performing students and is handed out to the society of the students. If the students should be members of different societies, they must allocate one society at registration for whom they will compete. For a society to be eligible for the prize they must have a minimum of 10 traders in the competition. Please note, should a society from DCU, NUIG, TCD, UCC, UCD or UL win the overall €10,000 prize for best performing Society in Ireland, there will be no €3,000 prize for that college.
    • Other weekly and daily prizes.
      • Prizes include Spot prizes, Best Question Spot prizes, and Leaderboard prizes.
        1. Spot Prizes –students will be made aware that a spot prize is available through a tweet made by the FX Trade-Off team through the FX Trade-Off Twitter account. For the first 2 spot prizes the tweet will inform and invite students to reply to the tweet with a screenshot of their “time-weighted rate of return” of their overall performance since the start of the competition. Thereafter and for the remaining spot prizes for the competition, students are invited to reply to the tweet with a screenshot of their “time-weighted rate of return” of the previous trading day or email the fxtradeoff@boi.com email account with a screenshot of their “time-weighted rate of returns” of the previous trading day. The highest performing student of that day based on the screenshot of their returns for the previous trading day is the winner. The winner is determined by the FX Trade-Off team.
        2. Leaderboard – the winner is the student with the highest “time-weighted rate of returns” at a point in time (weekly basis) determined by the FX Trade-Off team. The winner is determined by the FX Trade-Off team.
        3. Best Question – a tweet made by the FX Trade-Off team through the FX Trade-Off Twitter account will invite students  to tweet the FX Trade-Off Twitter account or email the fxtradeoff@boi.com email account with a question. Deadline for each entry will be included in the FX Trade-Off team invite tweet. The winner will be determined by a judging panel for the Competition which will include at least one person who is independent of the promotion of the Competition. No Bank of Ireland customer, whether or not he/she is eligible to win a prize, may attend the adjudication process. The names of those comprising the judging panel will be made available to Competition entrants on request.
        4. Tweet of the Night – A prize will go to the best Tweet of the night at the Mid-Market Update Event on Thursday, October 18th. The FX Trade-Off team through the FX Trade-Off Twitter account will invite students to tweet the FX Trade-Off Twitter account or email the fxtradeoff@boi.com email account on the day of the event. The winner will be determined by a judging panel for the Competition which will include at least one person who is independent of the promotion of the Competition. No Bank of Ireland customer, whether or not he/she is eligible to win a prize, may attend the adjudication process. The names of those comprising the judging panel will be made available to Competition entrants on request.
        5. Quiz – A quiz on Survey Monkey comprising of 20 questions will be tweeted by the FX Trade-Off team through the FX Trade-Off Twitter account and will invite students to complete the quiz clearly stating the entry deadline. A prize will go to the top 3 performers. In the case of a tie breaker scenario were more than 3 students answered correctly then the student with the fastest completion time will be named the winner. The winners will be determined by a judging panel for the Competition which will include at least one person who is independent of the promotion of the Competition. No Bank of Ireland customer, whether or not he/she is eligible to win a prize, may attend the adjudication process. The names of those comprising the judging panel will be made available to Competition entrants on request.
      • The prize is €50.00 AllGifts.ie Gift Voucher. The winner is contacted through email by the FX Trade-Off Team within 3 business days of the competition announcement on the the FX Trade-Off Twitter account.
      • The winners’ name and college is announced through a tweet from the FX Trade-Off Twitter account. This is only viewable and public to followers of the FX Trade-Off Twitter account.
      • The decision of the FX Trade-Off team will be final and binding on all entrants.

Bank of Ireland reserves the right to substitute a prize with one of equal or greater value. Winners cannot exchange or substitute the prizes for another one. If a winner cannot accept a prize, the prize will then be allocated to the runner up. If a student wins the Internship/Graduate Mentoring prize, he or she agrees to start the interview process within a timeframe of one year after being informed of the prize.

    11. Bank of Ireland will fund the provision of goods or services but the contract will be between the winning competitor and         the supplier of the goods or services. Bank of Ireland accepts no responsibility or liability whatsoever in relation to any               matter arising out of the Competition or the enjoyment of the prizes.

Please note the Competition has been prepared by Bank of Ireland Global Markets, a division of The Governor and Company of the Bank of Ireland for information purposes only and Bank of Ireland is not soliciting any action based upon it. Bank of Ireland believes the information provided  to be accurate but does not warrant its accuracy nor accepts or assumes any responsibility or liability for such information other than any responsibility it may owe to any party under the European Union (Markets in Financial Instruments) Regulations 2017 as may be amended from time to time, and under the Financial Conduct Authority rules (as applicable), for any loss or damage caused by any act or omission taken as a result of the information contained in this document.

Bank of Ireland is regulated by the Central Bank of Ireland. In the UK, Bank of Ireland is authorised by the Central Bank of Ireland and the Prudential Regulation Authority and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority. Details about the extent of our authorisation and regulation by the Prudential Regulation Authority and regulation by the Financial Conduct Authority are available from us on request. The Governor and Company of the Bank of Ireland is incorporated in Ireland with limited liability. Registered Office – 40 Mespil Road, Dublin 4, Ireland.