- - Credit Card Information
- - Apply For Credit Card
- - Forgot Credit Card Number
- - View Monthly Invoice
- - Increase Credit Limit
- - Print Credit Card
- - Online Lecture Series
- - IPO Conferences
- - Stock Market Competition
- • Trading Results 2010
- • Trading Statistics 2010
- • Trading Results 2009
- • Trading Statistics 2009
- • Trading Results 2008
- • Trading Statistics 2008
- • Trading Results 2007
- • Trading Statistics 2007
IVE Handbook
Table of Contents
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This handbook gives an overview of how to complete the tasks for the IVE e-Commerce system. It follows the sections as they are listed on the IVE website.
In order to begin, a school or institution must have been registered in the IVE network. In order to accomplish this task, contact the IVE office by email (contact@ive.cuny.edu), with the following information:
- School name
- School contact information (address, phone, email, website)
- Name and title of main contact
Once this is done, the VE firm can apply for an IVE MarketMaker account Username and Password. This can be done by clicking on “Create Company Account” on the left menu: 
All managerial functions require that the firm be logged into the system. Once logged in, you can begin to perform any number of different tasks, including the banking tasks. To log in:
- Go to the IVE website http://www.ive.cuny.edu, and click on “Marketmaker” on the left menu bar. This is the entrance point to the Marketmaker.
- Enter you Username and Password and click “Login”. Once logged in you can inspect the different tasks that are listed in left menu bar.
- To set up employee accounts see Section 4.1 – Manage Join Codes
Banking Tasks
Go to Banking Tasks and click:
- Bank Balances
Firms can have various sources of funds. The IVE system automatically sets up the following accounts:
- General Funds – the account for use in paying bills and receiving payments except from stock proceeds, credit card payments and e-store receipts.
- Stock proceeds – If you participate in the stock market, when ever you sell stock the proceeds will be deposited into this account.
- Credit proceeds – This account is used for the receipts from credit cards sales.
- E-store payments – Once you set-up you e-store the receipts will be deposited into this account
In additional to these accounts you may also create any new account that the firm may need. To accomplish this click on [Create New Account]
Enter the name of the new account and press submit. The new account will be listed will the others. - Transfer Money
To move your funds from one of your accounts to the other you simply transfer the funds from the source account to the designation account. You can also indicate the reason for the transfer, and if you wish this to be recurring at a desired frequency.
- Source Account – This is the specific account the money is coming out of
- Destination Account – This is the account the money is going into.
- Pay Period/Reason – The reason for the payment
- Effective Date – This is the start date of the payroll.
- Amount – The amount of the check
- Effective Date – The date the check is to be paid
- Ending Date – The last date the amount is to be paid if it is recurring.
- Frequency – How often the payment will be made, if recurring.
Once the information is all entered, click transfer and the funds will be automatically transferred.
- Make a Payment
In order to make a payment you must first enter the payee into manage payees. To enter a new payee, click “Manage Payees” at the top of the page:
Enter the following information for the new payee:- IVE checking account number
- Payee Name
The additional information is optional be should be entered:
- Address 1 – Street address
- Address 2 – City, State, Zip code
- Telephone number
- Fax Number
- Email address
- Website
Once all the required information and as much optional as you have is entered, click “Add Payee” and the now you can pay this person or firm.
Now you can pay this payee.
- Source Account – This is the specific account the money is coming out of
- Payee – This is the person or firm that you have entered as a payee and will be receiving this payment. If you have not added this payee, first go to “Manage Payees” at the top of this page and following the directions above.
- Pay Period/Reason – The reason for the payment
- Effective Date – This is the start date of the payroll.
- Amount – The amount of the check
- Effective Date – The date the check is to be paid
- Ending Date – The last date the amount is to be paid if it is recurring.
- Frequency – How often the payment is to be made
Once the information is all entered, click “Transfer” and the funds will automatically be paid.
- Credit Card Payment
In order to protect your credit standing, you must pay your credit card bill. Before starting to pay your credit card, be sure to have your account number available. Complete the following information:
- Source Account – Indicate which account the funds are coming out of.
- Credit Card Number – Be sure to enter the correct numbers
- Pay Period/Reason – entered the number or date of the bill for reference
- Amount – The amount you are paying.
Click “Transfer” and you have just paid your credit card bill.
- Payees
This is another way in which you can add a payee. Enter the following information for the new payee:
- IVE checking account number
- Payee Name
The additional information is optional be should be entered:
- Address 1 – Street address
- Address 2 - City, State, Zip code
- Telephone number
- Fax Number
- Email address
- Website
Once all the required information and as much optional as you have is entered, click “Add Payee” and the now you can pay this person or firm.
- Recurring Payments
All of the payments that you have set up to be paid more than once (weekly, monthly, etc.), will be listed on this screen, where you can manage the payments.
Corporate Tasks
- Manage e-inventory
This section of the Corporate Tasks deals with entering you inventory. Before designing your website you must enter all the products that you wish to sell on this website. The procedure is quick and efficient but you must have the following information:
- Product Name ( Title)
- Product Description
- Product Wholesale Cost
- Product Retail Price (Selling Price)
- Graphic of Product on your computer or from the internet (www.google.com)
Once you have accumulated all of the above information for each product you are ready to enter you e-inventory.
- Click on “Manage e-inventory”
- Enter the information that you have collected individually for each product.
- When you have finished entering the information, click “Add a product”
Each product will automatically be listed on your website for sale. You may change, or add products at anytime. Be sure enter the information correctly, you do not want to sell products that you don’t have, or for the wrong price.
- Manage Company Site
In creating the website, IVE has broken down the page into various sections. Each of these sections is important to the overall appearance of the website. Below is a detailed discussion of each section in the order that they appear:
- Style
This section deals with the different background colors, title text size and title text color.
Background Color
A background color should both dramatic but eye pleasing. If you are planning on using a light color text, use a dark color background and if you are planning on using a dark color text use a light color background There are certain color combinations that you should avoid; green and yellow, blue and black, yellow and white, etcNews container background
On the left hand side of your web site will be box for breaking news, sales, or anything you wish to highlight. This choice is for the background color for that box. When choosing the color remember the color of the background as this will be surrounding the box.
The same color rules apply to this insert as well as keeping in mind the background colors, and font colors.Link bar container background
This is your menu bar for navigation of your website. When picking background colors keep in mind the other colors that you have chosen.Title font color
The color of the letters in your title should stand out against tha background that you have chosen.Title font size
Beside color, the sizes of the letters are very important. Larger letters indicate importance, but if the letters are too large they will over shadow the rest of the site.
- Header/ Latest News
Logo – Submit you company logo by browsing your computer until you locate the folder it is in. Once you have located it, click the “Submit” button to upload.
Latest News – Use the template to enter any news, special sales, etc that you wish. You can use different size print, fonts or colors. When you have finished, click “Submit”.
- Home
- Welcome, What We Do, and Featured Service – In each of these categories enter a paragraph enticing the viewer to you company.
- Mission and Company Description
- A short mission statement and description of the company has to be entered. Keep this to one or two paragraphs, since most views will not scroll and read long paragraphs.
- Our Staff
List all members of the firm. Many companies like to organize this part by departments, but you may choose to list the people by alphabetical order instead.
To insert a photograph of the staff:
- Click on the Insert/Edit Image icon (First icon in the third line)
- Find the image you wish to insert, either on your computer, or server or on the Internet
- Write the person’s name and any other information that you wish before submitting the Image.
- Preview
At any time during this process you may preview your website and may any changes you wish. Do not publish your website until you are 100% satisfied.
- Publish
- When you are 100% satisfied with your website, push publish and join the other online stores in the IVE network.
- Style
- Customer Tracking
Customer tracking allows VEs to track all online store sales by location (red pins on map(. Sales can be displayed by date (Past 12 months, past 30 days, past 7 days, past 24 hours). In addition sales summaries can be exported in MS Excel format by clicking on [Export]
The list of sales below the map shows a summary of the items sold by displaying item image, name, price, quantity, client credit card, client email, and purchase date.
- Offline Transactions
The IVE e-Commerce System is available to both network and non-network members. Everyone, who wants to purchase goods from a virtual enterprise, must have an IVE credit card. Once they receive the IVE credit card they are ready to purchase goods.
However, some companies in the network do not have an online store, although they are running a virtual business and have (sometimes real) customers. For instance, this could be catering or cooking classes (virtual caterers or virtual restaurants), which provide “real services” as part of their class activities. The restaurant, for example, may cook for the college president as part of their final presentations. To be able to charge the president’s IVE credit card for their services, students use the “offline transactions” function of the IVE MarketMaker. In other words they are able to completed a credit card transaction without opening a online store.
And here is what these virtual firms have to do: When a customer decides to make their purchase, they present the credit card to the merchant. Just as in our everyday lives, when we purchase something on credit, the store will “swipe” the credit card to record your information and send the information to the card service, The IVE merchant will enter the following information to “charge” the customer’s credit card:- Customer’s Credit Card Number (no spaces)
- Buyer’s Last Name
- Charge Amount (no commas or dollar signs)
- tems Purchased (detailed description for the bill)
Once all of the information is entered, click “Authorize Transaction”. By authorizing the transactions, the company’s account with be credited for the amount of the purchase and a charge will be sent to the purchaser. The credit card holder will receive an invoice directly to his/her email.
- Tax Rate
The IVE Financial system mirrors the real world. Most state and local governments impose a sales tax on goods purchased by their residents; therefore, the IVE system also imposed the same rates that you would pay in your local stores. Be sure too familiarize yourself with which goods are exempt from sales tax and if your company’s offerings are exempt or not. Enter the rate as a percentage and all goods will be taxed at that rate. Unlike the real sales, out of state purchases will be taxed at the local rate and not exempt, as in the case of most internet sales.
- Shipping Handling Costs
Enter the details for shipping and handling fees and the amount that the firm will charge. If you are a service firm and do not shipped any merchandise, this field will be left blank.
HR Tasks
- Manage Join Codes
In order to participate in the IVE financial system, everyone must have a bank account. The first step in opening an employee account is to receive a “Join Code”. The “Join Codes” can only be generated by the administrator of the firm’s account.
The Director of HR, or whoever has access to the corporate accounts, can create enough “Join Codes” for the entire firm. (Additional codes can be requested at anytime to accommodate new “employees”.)
Each code has an expiration date.
The codes are to be distributed to the employees, who will need it to open their checking accounts. Once the accounts are open they automatically listed in a drop down menu in creating the Payroll – See Section 4.2 Company Payroll
Once the code is used, it is useless and should be discarded.
- Company Payroll
Payroll is a recurring event, and the IVE system lets you lessen your work by entering the employees’ information once and then issuing the payroll at your designated periods.
- Source Account – This is the specific account the company is paying the payroll from.
- Employee Account – In order to be paid all employees must have a checking account with the IVE Bank.When students sign up for their personal accounts using join codes these accounts are automatically listed in a drop down menu.
- Pay Period/Reason - Indicate the start pay period, or the reason for the pay check, i.e. Sales Bonus, Retroactive Raise, etc
- Amount – Amount of the check
- Effective Date – This is the start date of the payroll.
- Ending Date – The date of the last payroll.
- Frequency – The firm must choose how often they will pay their employees
- List of Employees
By choosing this link you will view all the employees that the firm is currently paying.
This page lists:
- Username - The name of the employee’s account
- Last Name – The student’s last name
- First Name – The student’s first name
By clicking on the student’s name you will access the student information which includes:
- Bank Balances
- Account ID
- Account Password
- Date of last activity
You can also delete the student’s account from this screen.
Important: If you set up automatic deposit, you can change and modify all recurring payroll payments by clicking recurring payments.
IPO
- Filing
Complete the forms below for filing according to the IVE requirements for registering a class of securities under the various provisions of the 1933 Act and the 1934 Act. Once the forms are complete they will be automatically forwarded to the IVE central office. The company can make an appointment with IVE Central office for a presentation before the IPO is approved. The presentation, however, is not a requirement and IPO’s maybe approved without a formal (online) presentation.
Once the forms are approved (and the presentation is made), you will be listed on the IVE Stock Market and your shares will be available for sale to all members of the network. - Forms
After you are logged in, please update your company information right away. You can do that by clicking on “View User Details” on the bottom of the left menu bar, followed by clicking on “Update User.”
Now you are required to upload your company logo to the system and to post your Company Mission/Description on the site. See Section 3.2 Manage Company’s Site
As a next step please click on “Manage e-Inventory” to enter your company’s products. For the purposes of the IPO it is sufficient to enter Product Title, Product Description, Quantity, Cost to Company, Selling Price and Product Photo. See Section 3.1 - Manage e-Inventory.
You have successfully completed the preparatory work for the submission of the IPO Prospectus. As a next step, you need to click on “IPO / SO Request” on the left menu bar. You will be prompted to the page with the overall description of the IVE IPO Conference. To continue, click on “click here” on the top of the page.
If you already updated your personal info, added your logo, and entered your company mission / description, click on “Next.”
If you already entered your products, click on “Next.”
The next screen is an online submission form for your company balance sheet. Please complete this form to calculate your “Suggested IPO Price.” You need to calculate sums for both assets and liabilities. Please start with assets (from top down), then continue with your liabilities. After you calculated your “Stockholder’s Equity” (=Assets-Liabilities), enter your “Suggested shares” (of course you can modify the default value of 1000) and click on “Suggested IPO Price” to calculate your value per share. When you are done hit the “Next” button.
Congratulations, you are almost done! The last step in this process is to come up with your personal ticker symbol (four characters max.). Select an industry fund and a corporate partner from the drop down menus. These two market values will impact your company’s stock price. The stock price and amount of shares are already filled in. To complete your IPO Prospectus click on “Create Request.
After you hit the “Create Request” button, you will be prompted to a screen that will show you the current status of your IPO Request. Upon approval of your IPO (after your presentation at the IPO Conference) your company will be listed on the IVE Stock Market (and ticker) and people can start investing in your company.
Stock Portfolio
To start building a stock portfolio you need to do some research. Your bank interface gives you easy access to all relevant markets and industries, both real and virtual. Simply click on “ List Virtual Companies” or “ List Real Companies” depending on what stock you wish to research, monitor, or buy.
- View Holdings
When building a portfolio is very important to keep track of your holdings. This page will list your stocks and the information associated with the stock
- View Transactions
Keeping track of you trading, helps you plan you investments and building a successful portfolio, this page will list all of the stock transactions.
- Buy/Sell Transactions
Buying and selling real stocks is similar to buying and selling virtual stocks. The only difference is that you have to indicate that you are buying or selling real stocks (arrow below).
In our example below you are placing a market order for 30 shares of at&t (stock symbol “T”). The arrow indicates that you are not buying a virtual stock.It is important that a stock symbol corresponds to the market where it is listed (at&t to the real market, and XA to the virtual market). If this proposition is violated the transaction will not be executed. In other words you cannot buy stocks that are not listed in any of the markets; both real and virtual .
To get started, click on “Buy/Sell Equity” to access your trading interface. To buy or sell you need to determine what account you want to use for your transaction. In most cases this will be your checking account.
In the example below you are planning to buy stocks from a virtual company xtremeAdventures (Stock Symbol: XA) through placing a market order (buy shares for current market value) for 25 shares for the price of $ 28.94 each. You can see on the ticker that the current value one share of XA is $ 28.90, which amounts to a total purchasing price of $ 723.5. To place your order, press the “Create Order” button. Immediately, you will be directed to your “View Transactions” interface .
To sell stocks, you use the same interface. The only difference is that you choose “sell” instead of “buy.” The rest is similar to the procedure above. Important: You can only sell stocks that you hold in your portfolio.
The actual purchasing and selling of the stock will be ordered on this page by completing the form:- Account – Using the drop down menu select the account you want the funds deducted from to pay for this stock or the proceeds deposited into.
- Buy/Sell – Indicate whether this is a purchase of stock or you are selling one of your holdings
- Order Type –
- Market – A market order is an order to buy or sell a stock at the current market price. This has a big advantage since you are almost always guaranteed that your order will be executed. However, if you are buying in a fast-moving market you might wind up paying much more than the initial quote that you obtained.
- Limited – To avoid buying or selling a stock at a price higher or lower than you wanted, you need to place a limit order rather than a market order. A limit order is an order to buy or sell a security at a specific price. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.
The purchasing process is similar to the market order, the only difference is that you determine a limit (target price) for your order.
In the example below you are planning to buy stock from a virtual company x-tremeAdventures (Stock Symbol: XA) through placing a limit order (change “Order Type” to “Limit Order”) for 25 shares for the price of $ 28.94 each. You can see on the ticker that the current value one share of XA is $ 28.90, which amounts to a total purchasing price of $ 723.5. Your “Target Price” is $ $ 29.00. This means that if XA’s stock exceeds $ 29.00 before your transaction has been executed (this takes approximately two days in our case) your order will not be placed. If you order does not exceed the limit, you will purchase the stock to the current market value. To place your order, press the “Create Order” button. You will be directed immediately to your “View Transactions” interface (see instructions below).
To sell stocks, you use the same interface. The only difference is that you choose “sell” instead of “buy.” The rest is similar to the procedure above. Important: you can only sell stocks that you hold in your portfolio. Stock Symbol – Use the symbol for the company that you will selling or purchasing. If you do not know what the symbol is, use the“Symbol Lookup“ feature for finding the symbols of Real Companies:
If you need the symbol of a virtual company, before starting this form go to “List All Virtual Companies
- Virtual? – Indicate whether this is a Virtual company or a real one.
- Target Price – When using the limited order, indicate the price you wish to buy/sell the stock
- Quantity – Indicate the number of shares you wish to purchase.
The last action you must take is to click the “Create Order” button and the bottom of the form.
- List All Virtual Companies
On this page you get a list of all virtual companies (Virtual Enterprises that have gone through the process of an initial public offering (IPO)) that are currently trading their stock in the Virtual Stock Market. Important for your trading is to remember the “Symbol” and its share value (Price). The Difference between “Prev Price” and “Price” will help you to determine whether the stock went up or down in value.
You can also search for companies: For example you if you want to look up companies that have the word “furniture” as part of their name, simply enter “furniture” into the search query field and press the “Search” button. Of course you can refine and alter your search queries according to your research interests.
The listing gives you the following information:- Symbol – Needed for buying or selling the stock
- Name – The complete name of the company
- Previous Price – The price of the stock on the previous trading day
- Current Price – The market price of the stock and an indicator of whether the stock is increasing or decreasing in price
- Shares Available – The number shares that are available for purchasing
- Transaction [Buy/Sell] – You can initiate the buy/sell form from this column
- Listed Real Companies
On this page you get a complete list of all real companies that are currently trading their stocks in real markets such as NYSE (New York Stock Exchange), NASDAQ, etc. These listings provide you with detailed information about real companies’ stocks.
Besides buying virtual stocks you can also place orders for real stocks with your virtual trading budget and add these stocks to your personal stock portfolio. Similar to the virtual companies, it is important for you to remember the “Symbol” and its share value (Price). The Difference between “Prev Price” and “Price” will help you to determine whether the stock went up or down in value. Additionally you can do some additional research on real investment sites such as http://www.marketwatch.com, or review business sections of newspapers such as The Wall Street Journal, or The New York Times.
You can also search for real companies: For example, if you want to look up a certain company such as the telecommunication company “at&t,” simply enter “at&t” into the search query field and press the “Search” button. Of course you can refine and alter your queries according to your research interests.
Credit Card
As a member of the IVE community your students can apply for and receive an IVE credit card. To begin, go to the IVE financial website and click on Credit Card Information.
- Credit Card Information
- Apply For Credit Card
You can apply for this credit card by either clicking the “ Get it Now” tab on the information pages or by clicking apply for Credit Card and the left menu. Either method will allow you to apply for the credit card by filling out the required information on the application form.
Please note that you must have a valid email address in order to receive the credit card and that your institution must belong to the IVE network.
After completing the application with the required information, click “ Submit Application” . After your application is submitted you will receive the following message on the screen:Thank you for your credit card application. You will shortly receive an email from us to [ Your e-mail address ]. Please check your email and click on the link we sent you to confirm that you are the person who applied for the IVE Platinum Card. After you confirmed your application you will receive a second email with your IVE Platinum Credit Card number and PIN.
Your IVE Platinum Team
- Forgot Credit Card Number
Once you have received you credit card and if you have misplaced the number, you can request IVE to email you your account number
- View Monthly Invoice
To access your monthly activities, enter your account number and PIN. This will show you the activity on the credit card as well as the balance due.
You also have the opportunity to pay your bill, click, “Pay Now”. This will allow you to log into your bank account and pay the outstanding bill.
- Increase Credit Limit
To request an increase in your credit limit enter you credit card number and log in. Complete the form to request an increase in your credit card and submit the form.
You will be notified by e-mail of the decision to increase you credit limit or not.
- Print Credit Card
This will allow you to print your credit card so that you use it to purchase virtual goods.
IVE Market Place
- Go Shopping
To begin shopping click go shopping to enter the IVE mall. You can see all of the different IVE companies that are offering goods and services for sales. Make you decision as to what type of goods or services you are interested in purchasing. You can either choose an individual company or a category of companies.
Once you choose your merchandise, click “My Cart” to checkout. Upon checkout you will be asked your name, credit card number and email. After purchasing an email will be sent confirming your purchase. The charge to your credit card, will be reflected in your credit card statement. - Search/List VE Database
When you know the firm you wish to do business with, you can search for them using this feature. It will allow you to be linked to their web site , where you can make your purchases.
- Consumer’s Guide
Using the IVE Market Place to purchase goods and services is as easy as clicking your mouse. The following steps will guide you through making your purchases. In order to purchase goods and services, you must have an IVE Credit Card.
Directions:
- You have various options in viewing all of the firms that are offering goods and services for sale.
- By clicking “Go Shopping” on the left side of the screen, you will view a list the industries, with the number of firms in each category and all of the firms. This is the same view if you click on “List”.
- By clicking “Map” on the left side of the screen, you will view a world map, indicating where in the world the firms are. By clicking your mouse over the markers, a list of all of the firms located there will appear.
- By clicking “Search/List VE Database” on the left side of the screen, you have the ability to search for a particular firm in the network.
- By clicking “Go Shopping” on the left side of the screen, you will view a list the industries, with the number of firms in each category and all of the firms. This is the same view if you click on “List”.
- Making a purchase:
- Decide on which firm you wish to purchase goods from, using any of the above methods of viewing the firms.
- Clicking on the name of the firm, you will go directly to their merchant website.
- Decide on what product you wished to purchase by changing the quantity from “0” to number of the product that you wish to purchase
- Click on “Add to Cart“ and continue shopping. Notice that your purchases are shown on the left.
- When you are finished shopping, click on “My Cart”. This will show you purchases and will allow you to increase the quantity, remove the item, or check out. If you wish to purchase more items, click “E-commerce” in navigation bar.
- If you decide to check out, click “Check Out”. Be sure to have you credit card ready.
- Complete the form on the screen, including email and credit card number and click submit.
- Decide on which firm you wish to purchase goods from, using any of the above methods of viewing the firms.
- You have various options in viewing all of the firms that are offering goods and services for sale.
- Company’s Guide
By using the IVE Market Place, a company has the ability to market it goods and services to all of the members in the network in a fast and convenient style. The IVE Market Place also provides the company with several marketing tools. One which is built into the IVE Market Place is the ability to locate your customers, and therefore determine where you advertising to working, or must you increase advertising in certain sectors of the market.
In order to use this very power function, follow these steps
- Log in you company’s IVE Market Place account.
- Once in your account, clicking on “Bank Balances” on the left hand side
- Once in “ Bank Balances” click on “IVE Platinum Credit Card”
Account ID Name Balance 123456789 IVE Platinum Credit Card $ -111.61
- This will list the details of your Credit Card transaction:
Num Reason Date/Time Amount 8501 Web (***********71255) 2007-10-21 15:29: 24 $ -53.50 8502 Web (***********69263): 2007-10-22 15:29:28 $ -57.69 8503 Web (***********46996) 2007-10-24 01:05:28 $ -10.52 8504 IVE Platinum Credit Card(***********12348): monthly min payment 2007-10-24 01:09:59 $10.00 - By clicking on any of the “Reasons” that comes from a web purchase,which is indicated by the word “Web” in front of the truncated Credit Card Number you will get the details of that transaction. On the top of this screen you will see a link to “List All Products”.
- By clicking on “List All Product”, a map indicating where you customers reside will be on the screen. You can choose various time periods for analysis purposes. March 3, 2008.
- Log in you company’s IVE Market Place account.