1. SOCIAL OUTCRY
THURSDAY, AUGUST 25TH, 2016

2. OVERVIEW
You will be trading one 30 minute heat in an open outcry session
You will be trading futures on the RT100 Index
You will be trading as an individual

3. THE RT100 Index
The RT100 Index is composed of the largest companies world-wide. News will be released periodically and it will be up to you to determine how this news will affect the market and overall index
Please note: This simulation is completely independent of current events. Please do not trade based on any news outside what is provided within this simulation
All contracts will be closed out at the closing Spot Index

4. OUTCRY CONVENTIONS Step 1: Determine if you would like to buy or sell.
If you would like to buy, yell: BID
If you would like to sell, yell: ASK or AT
Step 2: Determine the price you would like to trade at.
Remember: you only need to say the last two digits.
Step 3: Once someone accepts your offer, they will offer a quantity.
Step 4: You can choose to acquire the entire offer or only a fraction.

5. OUTCRY CONVENTIONS Example
Step 1 & 2 If the market is trading at 1000:
Buy order: BID 990 (This is an offer to buy at 990)
Sell order: AT 1010 (This is an offer to sell at 1010)
Step 3 If the offer is accepted, the counterparty would say:
Response to Buy order: Sold 5 (counterparty is willing to sell 5 contracts at 990)
Response to Sell order: Bought 5 (counterparty is willing to buy 5 contracts at 1010)
Step 4 Now the initial trader can decide how many contracts he/she wants:
Buy order: Bought 3 (only 3 contracts will be traded)
Sell order: Sold 5 (5 contracts will be traded)

6. FILLING OUT A TICKET Each ticket has 3 copies:
Submit the WHITE ticket to the ticket collectors (who will be standing at the front)
The BUYER keeps the YELLOW ticket
The SELLER keeps the PINK ticket
Other things to note:
The maximum contract size is 5
It is the responsibility of both traders to ensure the trade ticket is filled out without error
Contract multiplier is $10

7. SOCIAL CODE
The four letter code you will use to trade is on your nametag
Ensure that it is different from everyone in your team / group
This code will be used to transact your trades

8. TICKETS
Sample Empty Trading Ticket

9. TICKETS RITC FRTL RITC 5 1034 5 1034 Sample Filled Trading Ticket
Buyer – FRTL
Seller – RITC
Volume – 5 contracts
Price – 1034
RITC 5
1034

10. TICKETS Filled Trading Ticket that will not be interpreted RITC 1034
Buyer?
Seller?
Volume – seems 5?
Price – is it 1050 or 950?
Please write legibly! Illegible trading tickets will not be processed and will be deleted.

11. HOW TO SUBMIT A TICKET
Both parties go to a ticket taker located at the front of the stage
Both traders must show their nametags to verify the buyer and seller
A ticket taker will confirm the volume and price
Yellow ticket goes to the BUYER and pink ticket goes to the SELLER

12. DEMO

13. FINAL REMINDER Please write clearly and legibly
Be sure to have: your nametag, a stack of outcry tickets, and a pen
Lab enforcers will ensure that you stick to your bid/ask
Lab staff reserve the right to break unreasonable trades
If you need more tickets ask the ticket takers for some but please do not climb on the stage

14. Questions?

15. HAVE FUN AND GOOD LUCK