University Trading Challenge 2017-2018:


Directa S.I.M.p.A. organizes the seventh edition of the University Trading Challenge.
With this initiative Directa aims to offer students the opportunity to have concrete real experience in the financial markets through online trading.

This year, the championship will take place in two phases, one first qualifying phase with virtual money, and a final stage with real money, to which the first top 25 ranking teams will qualify.

In the Qualifying Phase, teams made up of 2 to 5 students can enroll. As There is no limit to the number of teams that can be enrolled for each faculty, and also the students who have participated in the previous editions are eligible as well. Each team will have access to Directa's platforms, complete with all the Features, the add-ons, the technical analysis platform: Visual Trader, and a virtual availability of € 5,000.

After the qualifying phase is completed, a general ranking will be drawn up.

The top 25 teams in the ranking will have the right to pass into the final phase of the championship. Additionally, each member of the team that has achieved the best outcome will be awarded € 1,000 worth scholarship, pursuant to the Art.6 - D.P.R. October 26, 2001, No.430.

In the Final Phase Directa will assign a € 5,000 loan with which they can operate in the markets for the next five months.

The winner of the University trading challenge will be declared the team that, at the end of the second phase of the championship, on June 1st, 2018, will have achieved the best performance.
Any gains realized by the participating teams - after commissions and taxes - will be recognized to the team leader (account holder) and divided among the team members, whereas any losses will be borne by Directa.

In both phases of the competition, leverage use is allowed, which enables for example to invest in stocks for an amount up to 25,000 euros.

During the course of the championship, awards ceremonies, prizes, assignments could be organized, all at Directa's discretion.

Directa, as always will also award the reference tutor of the winning team the sum of 20,000 euros for either educational or research projects.

Detailed information on the competition and the full regulation can be found on FAQ

University Trading Challenge 2017-18 edition Regulation

Team formation

The competition is open to students born after 31 December 1988 and attending any degree course at any European University faculty or equivalent school at University level.
There is no limit to the number of teams that can be enrolled for each faculty and the students who have participated in the previous editions are eligible as well.

Each team must have a team leader and a reference professor who will act as a tutor.


The application form for the qualifying phase must be completed online and sent directly to Directa by filling out the forms available at the websites: unichallenge.eu and/or universiadideltrading.com.
A clearly legible ID Document photocopy of all the participating team members must be sent by email to: unitrader@directa.it

Enrollment applications will be accepted starting from June 12th, 2017 until September 29th, 2017, even after the competition has started.

The teams that will qualify to participate in the next stage of the competition will have to complete the registration as follows:

- the form used for the enrollment in the preliminary phase must be printed, signed by the tutor and sent in original by mail to Directa S.I.M.p.A. - via B. Buozzi 5 - 10121 Turin.
- opening of an account in the name of the team leader directa.com, by following the process required to become a Directa's regular customer.

Registrations can be completed and submitted between December 11th, 2017 and December 28th, 2017

Please note that, the teams that do not comply within that deadline will be excluded automatically from participating in the final stage, and in their place will be invited to participate the team that immediately follow them in the final ranking.

Team's name

Every team should indicate a Team Name, they will use to participate in the competition. Directa reserves itself the right to change it where it could be considered inappropriate or already in use.

Championship Operating Procedure

Qualifying Phase

The qualifying phase will begin on September the 5th, 2017, and will end on December the 7th 2017.

The "demo" account will be opened in the name of the team leader. Once successful registration is verified, Directa will provide access to its main online trading platforms in "demo" mode to allow participants to get familiarized with the trading tools, the available markets and operational logics in the qualifying phase.

On September 5th, all existing positions will be canceled and the virtual capital will be returned to € 5,000 so that all the teams will start out all aligned. The new teams that will be added to the competition when it's already underway, will be included under the same conditions until September 29, the last day for team registration.

The "demo" mode of the first phase will work as follows:

Teams have the ability to place purchase/sales orders within the limits of the virtual availability (financial instruments and liquidity) on the account. Use of the leverage effect will be allowed.
Directa will provide to give virtual executions to the placed orders according to the available market closing prices (as shown in the table below) and to update the positions - financial instruments and liquidity - of the account.

from 21:30:00 to 22:30:00
from 23:56:00 to 23:58:00**
from 21:30:00 to 22:30:00
from 07:00:00 to 07:30:00*
from 21:30:00 to 22:30:00
23:10:00 **
from 19:45:00 to 22:45:00

*Next trading day.
** Executions: next trading day at 5 a.m.
Note: usually until 6 pm (CET), prices are referring to the previous market day. After the Closing, prices are updated at different times for different markets. The table shows the reference date for each price.

Final Phase

The final phase will get underway on January the 9th, 2018, and will end on June 1st, 2018.

- The "real" account will be held by the team leader.

- On each team's account, Directa will deposit € 5,000 of real money.

- No refunds or withdrawals are allowed until the end of the championship, penalty exclusion from the competition.

- Teams that make a loss equal to or greater than 30% of the initial capital, that's € 1,500, will be excluded from continuing to compete.

- By 12.00 o'clock, on June 1st, 2018, the last day of the Championship, all positions must be liquidated by the participants; if not Directa will force the closing of all the positions at its own discretion from that moment on.

- All teams' trading account will be subjected to a tax declaration. Directa will provide the Team Leaders with all the documents needed to compute the exact due amount of tax.

Tradable Markets

Trade operations may be placed on every market available through Directa.

Winner Announcement

Qualifying Phase

At the end of the qualifying stage, all open positions will be liquidated on the closing prices of the last day of the competition (December 7th, 2017).
The top 25 ranking teams will have the right to access, by completing the registration, to the second stage with real money. Directa may add to the final stage a limited number of "wild card teams" at its own discretion.
Additionally, each member of the team that achieves the highest final balance will receive a € 1,000 worth scholarship pursuant to the Article 6 - D.P.R October 26, 2001, No.430.

Final Phase

At the end of the Championship, after the liquidation of all the positions, the team that will have achieved the highest balance will be proclaimed the winner of competition.
Any Profits made, net of commissions, will be given to the Team Leader (the trading account holder) and he will undertake the task of dividing that sum, net of taxation, among the members of his team.

During the course of the championship, Directa may also organize awards ceremonies, prizes, acknowledgements, and assignments, all at its own discretion.

Research Funding

Directa will also award the reference tutor of the winning team the sum of € 20,000 in order to finance educational and/or research projects.

Participants Good Faith

Participants are bound to behave in a correct manner and good faith, adhering to and following the regulator and surveillance authorities legislation and rules of the trading markets and the Directa contractual obligations.

Account Closing procedure

The final balance of the Team's account will remain under Directa ownership up to € 5,000. The exceeding amount will be wired to the Team Leader (as the person in whose name the trading account was opened) on the bank account indicated in the Directa Agreement. Whereas the final balance will be lower than € 5,000, the corresponding loss will be borne by Directa

Standings announcement

Along the course of the Championship, the partial standings will be updated weekly with the last Friday's data. The portfolio will be evaluated at the same day's market closing price.
The partial standings will be published on the websites unichallenge.eu e/o universiadideltrading.com and announced to the media every week of the Championship's course.
By signing the championship agreement, participants authorize Directa to publish and to divulge to third parties their identities and a synthesis of the trading operations occurred and the ongoing performance. All the information might also be published on the websites unichallenge.eu e/o universiadideltrading.com together with the description of the trading operations.

Organizing Committee

Directa SIM will oversee the Championship's regularity and its compliance to the laws, rules and regulations. For this reason, Directa reserves itself the opportunity for eventual penalties and fines when need be.
Directa will eventually decide to disqualify and it will announce the Championship winner.


During the course of the Championship, every participant may present a written complaint to Directa for every irregularity or problem that might result in an unfair damage of their position. All complaints should be sent by email to unitrader@directa.com within 5 days after the Championship end. Directa will evaluate all the complaints received before the winner will be announced and will reply to each one.

Modifications and Exceptions

In order to guarantee a successful Championship, Directa may vary the present rules even during the course of the Championship.


The court of Torino - Italy- shall have exclusive jurisdiction over any disputes relating to the terms and conditions mentioned above.

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