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VEMEX, a shorter guide
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Nanatoa

Likes received: 514

#1 - 2012-10-31 17:20:20 UTC | Edited by: Nanatoa

- About -
This is a shorter guide to using VEMEX, Vaerah's securities exchange. The official guide is here. Read that if you'd like to know more about the how and why of the exchange. This shorter guide intends to give a quick overview to using the exchange.

- Disclaimer -
Any errors and omissions in this guide are mine; consequences of the errors and omissions are yours.

- Viewing the exchange -
Go to this Google spreadsheet.
There are 6 visible tabs (at the bottom), an overview tab and one tab for each of the funds. You can work from the overview tab, but the fund tabs will give a more detailed view. On the funds tab, the "Orders book" on the right-hand side is the interesting part.

- Using the exchange -
Orders are placed by sending a properly formatted evemail to the character VEMEX Monica.
ISK is sent to/from the VEMEX corporation ("Vahrokh's EvE's Merchantile Exchange").
If you are buying, you have to send the order to VEMEX Monica and enough isk to cover the order to VEMEX. If you are selling, you only have to send the order to VEMEX Monica (fees will be deducted from your sales isk).

- Formatting an order -
An order has these elements:
[symbol] [operation] [type] [price] [quantity] [expiration] [ID]

Symbol has five options, one for each fund: ESYFUND, MINBSK, ICEBSK, T2BSK, PIBSK
Operation has three options: BUY, SELL, CANCEL (use on existing orders)
Type has two options: MARKET, STOP > More on Market and Stop orders below
Price: the price you want to pay/receive
Quantity: number of securities you want to buy/sell
Expiration: GTC ("Good till cancelled"; presumably there are other options but I see no reason to use anything but GTC)
ID is the order ID: 0 for new orders, ## if you want to edit an existing order (you get an order ID from VEMEX Monica whenever you place a new order)

Example order:
MINBSK SELL STOP 1.099.999,00 200 GTC 0
Selling 200 Mineral Basket securities at 1.099.999 isk (new order, in place until it is filled or cancelled)

- Order type: Market or Stop? -
'Market' means buy/sell at the current best price on the market, regardless of what that price is exactly (So you can leave the [price] part of the order empty.)
'Stop' means buy/sell at the best price on the market, but not higher (when buying) or lower (when selling) than the price you listed. (My advice: always use Stop orders.)

- Want to know more? -
Irken Slushk thought my guide was a bit too short, so he has added a step-by-step guide below. Then there's the
official guide of course.

- Still have questions? -
Just ask, I'm sure someone will answer them.

"Stay the course, we have done this many times before." - (CCP) Hilmar, June 2011

Irken Slushk

Federal Navy Academy

Gallente Federation

Likes received: 23

#2 - 2012-10-31 17:58:21 UTC | Edited by: Irken Slushk

Example order:

Say you have 200 shares and you want to put them for sale on the market, just like in Eve.

You will open the VEMEX Google Doc ( I personally recommend downloading this file as an Xcel sheet for easiest use).

you will click the tab on the bottom pertaining to the type of share you would like to sell. In the example below we would choose the Minerals Funds tab.

You will then look at columns J, K, and L and rows 1-25 to see the current Sell order prices and current Buy order prices.

Rows 2-12(Green) indicate the current Sell prices, with row 12 always being the cheapest price per share and row 3 being the most expensive.

Rows 15- 24( Red) indicate the current Buy order prices with row 15 being the buyer offering the most isk per share and row 24 being the least.

You can now make a decision on how to base your prices, exactly like you do in eve.

I WANT TO SELL SHARES AT A PRICE AND QUANTITY I DESIRE EXAMPLE

So lets say as an example you look at row 12, columns L and M, and you see 2, 000, 000 with a quantity of 200.

This is telling you that the cheapest shares for sale are 2, 000, 000 isk per share.

Say I have 200 Mineral Basket shares I would like to sell.

I now look to row 25, columns A-G.

First I look to column B, I change BUY to SELL.

I do not change column C.

I go to column D, I enter the price *I* want to sell for, lets say 1, 999, 999.

I go to column E, I enter the quantity I want to sell, lets say 200.

I do not touch column F or G.

I now copy from row 24, A-G.

I open an Eve-mail to VEMEX Monica.

I paste and send the mail.

MINBSK SELL STOP 1.999.999,99 200 GTC 0

I WANT TO BUY SHARES AT A PRICE AND QUANTITY I DESIRE EXAMPLE

So lets say as an example you look at row 15, columns L and M, and you see 1, 000, 000 with a quantity of 200.

This is telling you that someone wants to buy 200 shares at 1, 000, 000 isk per share and that they are currently offering the most isk per share at the moment.

Say I would like to buy 200 Mineral Basket shares at the price of 1, 000, 001 isk per share.

I now look to row 25, columns A-G

First I look to column B, I make sure it states BUY

I do not change column C

I go to column D, I enter the price *I* want to buy for, in this case 1, 000, 001 isk per share

I go to column E, I enter the quantity I want to buy, in this case 200.

I do not touch column F or G

I now copy from row 25, columns A-G.

I open an Eve-mail to VEMEX Monica

I paste and send the mail

MINBSK BUY STOP 1.999.999,99 200 GTC 0

I WANT TO SELL SHARES AT A PRICE DETERMINED BY CURRENT BUY ORDERS

So lets say as an example you look at row 15, columns L and M, and you see 2,000, 000 with a quantity of 200.

This is telling you that someone wants to buy 200 shares at a price of 2, 000, 000 isk per share.

Say I would like to sell 200 Mineral Basket Shares at 2,000, 000 isk per share.

I now look to row 24, columns A-G.

First I look to column B, I make sure it states SELL.

I do not change column C.

I do not change column D.

I go to column E, I enter the quantity I wish to sell, in this case 200.

I do not touch column F or G.

I now copy from row 24, A-G.

I open an Eve- mail to VEMEX Monica.

I paste and send the mail.

MINBSK SELL MARKET 2, 000, 000 200 GTC 0

I WANT TO BUY SHARES AT A PRICE DETERMINED BY CURRENT SELL ORDERS

So lets say as an example you look at row 12, columns L and M and you see 1, 000, 000 with a quantity of 200.

This is tell you that someone is selling 200 shares at a price of 1, 000, 000 isk per share.

Say I would like to buy 200 Mineral Basket Shares at a price of 1, 000, 000 isk per share.

I now look to row 23, columns A-G.

First I look to column B, I make sure it states BUY.

I do not change column C.

I do not change column D.

I go to column E, I enter the quantity I wish to sell, in this case 200.

I do not touch columns F and G.

I now copy from row 23, columns A-G.

I open an Eve-mail to VEMEX Monica.

I paste and send the mail

MINBSK BUY MARKET 1, 000, 000 200 GTC 0

Attention

Market orders vs Stop orders Attention

This jargon is the RL finance way to call the two things you do all the time in EvE already.

A market order is nothing more than selling stuff to buy orders or directly buying from sell orders. It's basically the "Simple" EvE trading window. The price section will already be filled in with the current buy or sell order price.

Stop orders are easy, don't over think it. A stop order is simply allowing you to either place a sell or buy order at the price and quantity you want. Just like an advanced sell in Eve.

Middle-Earth 463
Samroski Middle-Earth Likes received: 463	#3 - 2012-10-31 19:58:47 UTC Thanks. Nice guide. Any colour you like.

Vaerah Vahrokha

Vahrokh Consulting

Likes received: 5,809

#4 - 2012-10-31 23:31:36 UTC

Excellent!

Only possible additions for the future, probably when more automation will be implemented:

LIMIT orders, that is orders you want to be filled only and exclusively at that price or better (STOP orders are filled at price or "worse" (since the next orders are at an increasingly distant price from what you watned).
There are more kinds of orders (the most famous being "OCO" (order cancels order) but they are really specialized tools.

Non GTC durations: in RL it's possible to specify if an order will expire after 1, 2,3,7,14 days or never.

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Tom Hagen

Twilight Empire

Likes received: 163

#5 - 2012-11-01 12:00:31 UTC

Awesome!

I was thinking about investing in this at some point, mostly to support VV's effort in creating a functional exchange.
But I guess that it's not just me who feels VV's wall of texts a bit disencouraging.

Not to be rude VV, but for simplicity sake let Nanatoa be the writer of the short version in order to avoid you are turning this into another one of your dreadnoughts... Big smile

That said, Good work on the exchange, I haven't actually seen any of it, I am just assuming that it is some man hours put into it and it proves that you have an unhealthy dedication to make this work. Smile

Vaerah Vahrokha

Vahrokh Consulting

Likes received: 5,809

#6 - 2012-11-01 12:28:42 UTC

Tom Hagen wrote:

I am not being verbose for evil purposes, it's just my nation's tongue that is extremely prolix and mentality that is quite intricate, this reflects in my writing.

Furthermore I am trying to do different than others did in the past, where they proposed black boxes, no questions asked, no transparency nothing. So I write in the greatest detail everything done and why.

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Samroski Middle-Earth Likes received: 463	#7 - 2012-11-03 06:22:42 UTC Nanatoa & Irken, thanks for these useful guides. Tbh, I was about to do the same, but both of you have covered all the bases better than I could have. Thanks for taking the time to do so. Any colour you like.

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Federal Navy Academy

Gallente Federation

Middle-Earth

Vahrokh Consulting

Twilight Empire