Trading Platform Provider: Performance Analytics Sponsor:

Rules and Regulations

  1. The competition will be governed by the CFA Institute Code of Ethics and Standards of Professional Conduct. Please visit

  2. Contestants certify their eligibility to compete by entering the competition. Eligibility of winners will be verified. Eligible contestants include either of the following categories :

    1. Members in good standing of The Hong Kong Society of Financial Analysts (HKSFA).

    2. Students of the following universities :
      • The Chinese University of Hong Kong
      • Chu Hai College of Higher Education
      • City University of Hong Kong
      • Hang Seng Management College
      • Hong Kong Baptist University
      • The Hong Kong Polytechnic University
      • Hong Kong Shue Yan University
      • The Hong Kong University of Science and Technology
      • Lingnan University
      • The Open University of Hong Kong
      • The University of Hong Kong
      • University of Macau

      Finalists must present Student ID and leave a copy to HKSFA.

    3. CFA Canddiates who list Hong Kong as their primary address in their profile and have registered to write an exam in 2017.

  3. Contestants are to submit an investment policy at entry against which results will be evaluated.

  4. Eligible securities are limited to HKEX-listed :
    • Equities
    • Futures (Equity Index, Single Stock)
    • Options (Equity Index)
    • Options (Stock Options)
    • ETFs
    • Shanghai-Hong Kong Stock Connect equities
    • Shenzhen-Hong Kong Stock Connect equities

    Note :
    NO bonds, warrants or structured products.
    Trading platform provider's futures margin information can be found from

    For short-selling of designated securities, contestants should comply with the Regulated Short Selling provisions stipulated by the HKEX Trading platform provider's related information can be found from

    • Cash must not exceed 15% of the portfolio after the 14th calendar day of the competition
    • Contestants must login at least once in a 30 calendar day time frame.

    Limitation disclosure: Trading platform does not facilitate block log transaction.

  5. Registration on trading periods :

    1. Registration for the Competition will commence on 20th March 2017 (Mon) and close on 20th April 2017 (Thu)
      (all times Hong Kong);

    2. Orders may be placed starting on 2nd May 2017 at HKEX market open until HKEX market close on 31st October 2017. Placing orders before 2nd May 2017 and after 31st October 2017 (all times Hong Kong) will result in disqualification.
      (Here is the link to the free demo of the trading platform of Interactive Brokers:

  6. All competitors will be assigned notional starting capital of US$ 1,000,000.

  7. Contestants whose portfolios having the 20 highest Time-weighted Rate of Return (TWR) at the end of the Competition ("Shortlisted Finalists") will be interviewed by a panel of judges ("Judging Panel") during the first three weeks of November 2017.

  8. Final judging criteria and weighting :
    a)    Sharpe Ratio : 35%;
    b)    Investment process and rationale quality and execution: 35% (judging panel to evaluate and assign);
    c)    Q&A : 30% (judging panel to evaluate and assign).

  9. Decisions of the Judging Panel regarding competition results are final.  The HKSFA Board of Directors’ decision will prevail for all other areas.

  10. Winners will be announced within 30 days after contest period closed. Contestants accept to post their photos and details like names of members or candidate etc. on the eblast and website.

  11. Prizes are as follows :
    a) First: HK$ 30,000
    b) Second: HK$ 20,000
    c) Third: HK$ 15,000
    d) Fourth: HK$ 10,000
    e) Fifth: HK$ 5,000

    * Sharpe ratio :
       (Return of Portfolio - Risk-free Rate **) / Portfoilo Standard Deviation

    ** 3-month HSBC term deposit rate

Note : After you have checked the box and pressed the <Agree> button, you will go back to the "Registration Information and Investment Policy" form for submitting your registration.

I confirm that I have read and agree with the above Rules and Regulations.