PRIVATE COMPETITION · NEXT SEASON

LEAGUE OFFICE

Publish the game everyone agrees to play.

COMMISSIONER'S RULE CHANGE THE RULES BEFORE THE BELL. LOCK THEM WHEN THE SEASON OPENS.

DEMO CONTRACT SIGN IN TO PUBLISH AN AUTHORITATIVE SEASON.

OPEN PRIVATE ACCESS →

SEASON CONTRACT · REVISION 01

THE NEXT QUARTER

CONTRACT DRAFT

NAME THE COMPETITION

Set the social frame before setting the market rules.

SEASON NAME FORMAT PRIVACY DESKS

SET THE CLOCK AND THE CAPITAL

The season must be long enough to punish one lucky trade.

OPENS CLOSES STARTING CASH $ MAX ACTIVE SECURITIES DATA DELAY

12 WEEKS · 84 DAYS DATES USE AMERICA/NEW_YORK MARKET CALENDAR

OPEN THE MARKET IN LAYERS

Advanced instruments should arrive only when the season is ready to teach them.

STOCKSLong common equityCORE ETFsDiversified fundsFOUNDATION BONDSTreasury and corporateINCOME SHORTINGBorrow, sell, repurchaseADVANCED OPTIONSCalls and putsADVANCED MARGINBorrowed buying powerADVANCED FUTURESStandardized contractsEXPERT AFTER HOURSThin books and wider spreadsEXPERT

CHOOSE THE BROKER'S FRICTION

Costs can simplify the lesson or simulate the market more closely.

COMMISSION / ORDER $ OPTIONS / CONTRACT $ SLIPPAGE MODEL BPS MARGIN RATE % SHORT BORROW %

DEFINE WHAT WINNING MEANS

Return matters. Risk and cost discipline decide whether it is enough.

MARKET RESULTReturn, benchmark, consistency RISK DISCIPLINEDrawdown, concentration, rules

TOTAL 1,100 READY

CHAMPION TIEBREAK

OPEN THE BULLPEN

Signed-in league members become eligible desks; invitations are issued from Private Access.

SEAT 01 · COMMISSIONER SEAT 02 SEAT 03 SEAT 04

CONTRACT AT A GLANCE

SEASON BOARD

5 / 7

NAME: AFTER BELL INVITATIONAL
RUN: 12 WEEKS
STARTING CASH: $100,000
DESKS: 6
POSITION LIMIT: 15
MARKET ACCESS: STOCKS · ETFs
UNIVERSE: 15 SECURITIES
BROKER MODEL: MODERN RETAIL

SCORING SPLIT

1,100 POINTS

MARKET700 RISK400

Champion: highest total points.

BEFORE PUBLISHING

READINESS

01IDENTITYREADY
02SCHEDULEREADY
03MARKET ACCESSREADY
04UNIVERSEREADY
05BROKER COSTSREADY
06SCORINGREADY
07DESK ROSTERREADY

COMMISSIONER'S NOTES

FRICTION CHANGES BEHAVIOR.

LEARNER

A visible flat fee makes the cost of excessive trading easy to see.

MODERN RETAIL

Zero commission does not mean zero cost; spreads and slippage still matter.

FULL SERVICE

Historic commission levels make trade selection and turnover much more consequential.