Market Discussions

Just to double check to make sure I've gotten it right.

To receive our shares we would enter:

ESYFND BUY MARKET 1,000,000.00 250 GTC 0

Or is this for the purchasing of additional shares? And we will receive our allotted shares on November 1st?

Thanks for the clarification.

i too would like a quick and dirty explanation as to how to place buy orders, or buy off sell orders. I plan on participating in this market, but it is not clear to me how to actually trade.

VV,
I appreciate the quick response. Will there be a webform to submit an order on the website? I am just wondering how to actually place the buy order once the market goes public.

Thanks,

JG

Aaaaaaaand we got our first orders out!




ATM this is a manual tellering system.
I really, really wish I had a nice pre-made WEB application but after searching for weeks I have found none at all.
The little payware stuff I found are professional exchanges (for RL securities) that cost hundreds of thousands and require dedicated hosting if not a rack in a data center.

Now, I had a big issue: time. The EvE markets tend to peak at Christmas, a large fund like this needs help from the trend.
Now, I bought for myself 30B worth of minerals for ridicolously low prices in August, ATM I am up 20% in NAV just for doing... nothing.
I also (see past months of my posts) have this stupid dream of implementing more advanced finance in EvE.

Out of these factors the idea for this fund came up.
Now, I had doubts that anyone would trust a first time investor with 100B. How many got 100B in their first investment ever? Not even a collateral, not even an audit.

But somehow people were fine with this. So the big issue turns to be: "how to actually implement an exchange?"

The first reaction would be to Google for open source projects. There are none. There's some old, non compiling java half made backend and that's it.

So, I had the EvE markets going ahead regardless of me (prices were already 30% up vs when I wanted to get investors ISK) and nothing to help with my project.

So I decided to learn Excel a bit better and coded the whole thing myself. Then I added a database for the orders.
It still has all the boring manual stuff but it does a lot of calculations and storage so it's not too bad.

This also helped me A LOT to quickly prototype the whole exchange, if one day I want to create a PHP script I won't have to do so much trial and error like I had for Excel. The major algorythms are in fact all done now, the fields are more or less final, the profit / NAV split etc. helpers are in place.

What happens next depends from the Investors. If they will use the exchange enough, I'll code it for the web. If after the first week, I only get 1 order a day then the current solution can stay.

Hmm I think I mentioned VEMEX more than a couple of times.

I could not otherwise explain how I am getting orders from other people.

I have updated the manual to be more explicit about the mail address.

Let me recap: send ISK to VEMEX (the corp).
Send mail to VEMEX teller called VEMEX Monica.

Edit: I have typed VEMEX in the mail address and it auto-filled VEMEX Monica, doesn't this happen to you too?

Edit 2: I need to go a bit to bed because my fever is too high (got flu), so if you want to setup orders please do it in 5 minutes so I can insert them ASAP.

Your order has been processed.
Still not sure about why you are showing hostility, but hey, business is business, I am OK.

The shares are of the so called "virtual" kind (also used by BSAC EvE exchange), because physical shares have some bad issues:

- they are susceptible to exploits
- they give options to players over the issuing corps that a fund is not made to deal with.
- one share ticker - one corporation. So no multiple funds.
- they have the super-nasty issue that they can't be reclaimed once their job is over. Players quit or just stop bothering with the shares so once they are out, a portion never makes back in, in case you need to restart a new share based activity.


As for your example, if you want to go heavy enough to buy hundreds of millions I strongly suggest to:

- wait till there are enough shares for sale, so your order does not stay half filled forever.
- open an account. ISK will be taken as the order is filled.

Orders can and will get partial fills like in RL: first the matching price shares are traded, then those at an higher price.

IE buy stop at 1.3M: once price gets to 1.3M then as many shares as possible become yours (and ISK taken), then the order processor finds the next closest order (say 1,300,100) and gives you those and so on.

Basically it's like EvE except in EvE you'd get all the shares at 1,300,100 while in RL (and VEMEX) you properly get 1.3M shares at 1.3M and 1,300,100 shares at 1,300,100.

I am dumb never mind

What's "OCD"?

Also, the number of rules is a tiny subset of what you'd get in a RL investment, I am simplifying it as much as I can. The biggest difference is that usually all you are "meant" to do IRL is to go to a bank and give money to a very well dressed dude who "does everything" for you.

End result, totally opaque investment, sometimes in securities with very (untold) high risk, taxable dividends slammed in your face to reduce those the fund should pay and so on.


Edit:

other very important reasons why I am detailed:

- you should see the amount of manual work involved at setting up everything by hand. If I start getting all sorts of non standard stuff it gets exponentially harder and easier to do ISK expensive (for you) mistakes.

- I have received some "creative" orders, other orders that make no sense and so on. I can't ping pong 10 emails while I get swamped by the next 50 incoming orders to process.

I am working to automate some of the stuff involved with the exchange so that everything will become much easier and faster, but it won't come in 1 day nor 1 week.