Final of the 2nd ACP World Rapid Cup is being organized by Pivdenny Bank on 4-7 January in Odessa, Ukraine. Participants are listed as Dmitry Jakovenko, Vassily Ivanchuk, Teimour Radjabov, Evgeny Najer, Sergey Karjakin, Peter Svidler, Alexander Shabalov, Pavel Eljanov, Ernesto Inarkiev, Boris Savchenko, Alexei Shirov, Boris Gelfand and Yuri Drozdovsky, all of them qualified from the third ACP Tour, and Anatoly Karpov, Judit Polgar, Aleksander Grischuk with wild cards.
The event will be of knockout format and each match will consist of two rapid games (20 min + 5 sec). In case of tie, another two blitz games (3 min + 2 sec) will be played, with Armageddon as the last resort in case of another tie.
First round will take place over 4-5 January, quarterfinals are on the 6th, semis and final on 7th. Total prize fund is $136000 USD, with $40000 USD reserved for the winner.
"More" information on the horrible ACP website and on the official page which has Russian version only.