SunGard trades up for the World Cup; SocGen develops Football 2010 basket index

SunGard trades up for the World Cup; SocGen develops Football 2010 basket index

As the World Cup kicks off in South Africa, Sungard is inviting financial industry professionals to participate in a live auction, buying and selling teams as the competition progresses.

The Top Striker market will be open for live trading from 08:00-08:30 BST and from 14:30-15.00 BST on key dates throughout the World Cup.

Each player or team starts with 10,000 credits, which may be placed on one or more teams. Participants can also go short of teams - to a limit of 10,000 credits.

Prices will move in response to results, expectations and trading volumes - just like a real market and players may view their positions in real-time via a Top Striker portfolio that will display unrealised profit and losses.

Orders placed before market open will be matched in the opening auction. Other players and SunGard market makers will ensure liquidity, says the vendor.

Teams will be awarded a final value - based on how well they do, and the winner will be the Top Striker trader with the largest realised profit at the end of tournament.

The competition winner will bag an IWC Aquatimer Chronographic watch. Four runners up will vie for an Apple iPad, a Fortnum & Masons dinner party hamper and as couple of crates of fine red wine.

Separately, French bank Societe Generale has launched a tracker indexed on a basket of 16 European shares sensitive to the World Cup 2010. The index, selected by SocGen analysts, includes international companies, mainly in beverages, food producers and retailer sectors, that have been shown to perform especially well, both before, during and after the event.

Based on the last four World Cup events, the simulated performance of the SG Football 2010 basket has an average performance of 19.05%, says the bank.

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