Marcus Baltar
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Posted - 2009.06.02 12:52:00 -
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Edited by: Marcus Baltar on 02/06/2009 12:54:21
Edited by: Marcus Baltar on 02/06/2009 12:54:01
(Disclaimer - This is my understanding of how the interface works. For the true working, wait for Block Ukx).
 Originally by: Market Voodoo
Given the (in my mind) spectacular success of the Ice Index, I've been thinking about diversifying some additional cash I have into the mineral funds, however, unlike the Ice Funds I can't for the life of me work out the interface on the mineral funds.
Remember that the Ice Indices are a lot more volatile than the Mineral Indices, so should be regarded as a long term investment (as should the Mineral Indices).
Originally by: Market Voodoo
Say I want to invest a fixed amount of ISK, lets call it $100m in the Trit fund, how do I do this given there isn't a fixed price per share I can reference for the day and there is no option to just enter in the full amount I want invested?
To invest a fixed amount, use option "a" in both the "Bid - Share Price" and "Number of Shares" boxes, send the money to " BSAC MMM " and Robert is your father's brother.
Originally by: Market Voodoo
Looking at the options:
One I can choose to place a bid at a certain price, which may or may not be filled, and my ISK may sit idle (eg I bid 3.25, takes 3 weeks for trit price to hit 3.25) or or I stand the chance of overpaying (eg. I bid at 3.25, days price closes at 3.15, damn I jut overpaid 0.10 per share)
If you put a price in the "Bid - Share Price" box, your ISK will not be invested until this price is reached, or if it is currently lower than this you will receive shares based on the lower value. There is no fixed price on the Mineral, or Ice, Indices*
Originally by: Market Voodoo
Two I enter in a number of shares I want, put I have no idea if it will cost me 90mil or 150mil, as I don't know what the share price will close at when my order is filled.
Block Ukx will then contact you with the amount to be sent to cover this fixed number of shares.
Originally by: Market Voodoo
Also, once I've sorted the above, I can't work out who the hell to send ISK to 
Money for the Mineral Indices goes to " BSAC MMM ".
Originally by: Market Voodoo
I'm hoping I'm not missing something really obvious here!
I hope that I have given valid advice too!  The Ice Index is easier in that it does not give you the option of setting a buy/sell price (although eVaLF may be willing?).
* - As I understand it, the prices for both the Mineral Indices and the Ice Indices quoted on the Exchange, are a guide only, they may change during the day (especially the Ice Indices).
NOTE - An individual is only allowed a maximum of 20% in any individual Index, Ice or Mineral (Isogen, Helium, etc.).
(edit)Changed an Ice to Mineral for clarity  (/edit)
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