Joined: September 04, 2007 14:01:01 UTC
Intrade has opened a markets for the US Securities and Exchange Commission (SEC) to decide if International Financial Reporting Standards (IFRS) will be adopted (partially or in full) in the United States.
This market can be found under Financial > Accounting - US.
Market Specific Rules:
The market will settle at $10.00 if the SEC announces before midnight ET 31 Dec 2012 that IFRS will be adopted - either partially or in full.
The market will settle at $0.00 if the SEC does not announce before midnight ET 31 Dec 2012 that IFRS will be adopted - either partially or in full.
This market will be settled using official statements from the SEC about the adoption of IFRS. The adoption of IFRS does not need to actually occur for the market to be settled at $10.00 - the market will be settled once the SEC announces IFRS will be adopted (for example, if the SEC announces in August 2012 that IFRS will be adopted in March 2013 the market will be settled at $10.00).
The IFRS will be considered partially adopted if the SEC announces that any element of the IFRS will be adopted.
If the SEC announces that IFRS will not be adopted, or announces a decision will be delayed until after the end of 2012, Intrade reserves the right to settle the market at $0.00 at that time.
Intrade reserves the absolute right to determine how this market will be settled (when and at what price). This will be done using all reliable mainstream information that is publicly available at that time. Intrade reserves the right to wait for further information before settling this or any other market.