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Hexxx
Minmatar
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Posted - 2007.04.25 15:11:00 -
[1]
Edited by: Hexxx on 25/04/2007 16:46:33
Edited by: Hexxx on 25/04/2007 15:12:16
Alright guys,
UPDATE: It has swiftly become apparent to me that not everyone is aware of how future contracts trading works. I will post an example tonight.
I'm going to build a futures exchange. Please provide me with feedback on the viability of such a system and also the initial rules I've posted below.
Step 1. Deposit a sum of money into the system:
Frequency - Unlimited
Amount - Minimum 10 million
Fee - 1%
Step 2. Use your account to trade futures contracts.
Step 3. Withdraw your money from your account
(limit 1 withdraw every 5 days to prevent traffic overload, allow 24 hours for money to be wired)
My initial thinking is to build this in someway into the stock exchange, however, it needs to be created first.
I have the background to build this myself, however, time is money folks. Any programmers (SQL/PHP) who would like to be involved, please eve-mail me.
I know there are MANY people who could program something like this, that's great, but I'm interested in people who are actually willing to do it. Please be mindful of the committment this would require. Terms can be negotiated.
Regards,
Hexxx
Hexxx LLP - Business Consulting Services - IPO's, Business Plans, Share/Stock Pricing, and general Consulting.
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Ricdic
Caldari
Corporate Research And Production Pty Ltd
Zzz
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Posted - 2007.04.25 17:00:00 -
[2]
 Originally by: Hexxx
UPDATE: It has swiftly become apparent to me that not everyone is aware of how future contracts trading works. I will post an example tonight.
It's ok , I will admit it. Hexx was talking about me. He tried explaining it all to me in-game but i still don't really understand it 
Sick of the waits with empire research slots? Use mine! |
Icarus Carlyle
Gallente
Streel Corporation
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Posted - 2007.04.25 17:25:00 -
[3]
Good luck on this, Hexxx.
However, it has been tried before: http://oldforums.eveonline.com/?a=topic&threadID=462779
I think it is floundering due to RL constraints on the creator among other reasons below:
The problem with futures is complexity which your update has already pointed out. You will also need participation on a scale I feel that will not be attainable. It's too easy to use the ingame market or establish mineral contracts (and I don't mean the contract system ingame).
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Hexxx
Minmatar
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Posted - 2007.04.25 17:50:00 -
[4]
Originally by: Icarus Carlyle
Good luck on this, Hexxx.
However, it has been tried before: http://oldforums.eveonline.com/?a=topic&threadID=462779
I think it is floundering due to RL constraints on the creator among other reasons below:
The problem with futures is complexity which your update has already pointed out. You will also need participation on a scale I feel that will not be attainable. It's too easy to use the ingame market or establish mineral contracts (and I don't mean the contract system ingame).
Good point.
First of all, we have a "chicken or the egg" problem. What comes first? People willing to trade futures or the platform with which to trade futures?
It is my belief for success to even have a chance, it must be the platform which develops first.
Secondly, diversification. Capitalism in general favors diversification (in trading, in stocks, in investments, etc) and if you'll pardon my continued theme here "putting your eggs all in one basket is bad".
A fair selection of possible futures contracts should be available. And, more importantly, it should be futures contracts that people want to trade. Tritanium prices might be practical, but wouldn't it be more fun to trade futures contracts on when Revelations 2.0 is finally released? Or when an Alliance will finally collapse? Or who will win the Caldari Tournament?
Further, and lastly, the previous proposal focused on brokers. I plan to take brokers completely out of the equation. Once someone deposits money into the exchange, everything else becomes automated. The only manual part is the deposit and withdraw of funds.
Hexxx LLP - Business Consulting Services - IPO's, Business Plans, Share/Stock Pricing, and general Consulting.
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Pang Grohl
Gallente
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Posted - 2007.04.25 23:05:00 -
[5]
I think Icarus has identified the difficulties in a futures exchange. Uptake. In order for there to be a viable exchange there has to be enough participation to justify formalizing the futures transactions.
Once you've demonstrated the usefulness of futures trading with mundane things (materials is a good place to start), you can introduce people to the joy of more esoteric futures contracts.
Si non adjuvas, noces
(If you're not helping, you're hurting) |
Hillesumos
Minmatar
Constructive Influence
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Posted - 2007.04.26 00:12:00 -
[6]
My little piece of advice. First start with simple optiona nd future that everybody can understand and find useful. I feel the best candidate are minerals and with the new contract system there is potential to create pseudo future that are easy to use and can be beneficial. Please convo me in game so we can discuss it further and make some tests about it.
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Sadly I just make ISK, I don't print it. :(
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Kazzac Elentria
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Posted - 2007.04.26 02:32:00 -
[7]
There are a number of web based open source web projects which allow a stock/future trading of any commodity you plug into the content management system.
It wouldn't be to hard to set up.. perhaps a trial run using a known limited commodity amongst trusted investors? |
Dr Slurm
General Commodities
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Posted - 2007.04.26 07:56:00 -
[8]
Hexxx check your eve-mail, svp.
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Hexxx
Minmatar
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Posted - 2007.04.26 11:19:00 -
[9]
Originally by: Kazzac Elentria
There are a number of web based open source web projects which allow a stock/future trading of any commodity you plug into the content management system.
It wouldn't be to hard to set up.. perhaps a trial run using a known limited commodity amongst trusted investors?
This is where I utter the famous words, "Now why didn't I think of that?"
I've found a few, with one of them being a good canidate. It will need some modifications to do exactly what I want (which is the need to manage deposits and withdrawls of isk for each account) and of course for "aesthetic modifications".
When it's ready I'll do a test with some of the market regulars. Soon(tm).
Hexxx LLP - Business Consulting Services - IPO's, Business Plans, Share/Stock Pricing, and general Consulting.
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Ki'tal Ereza
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Posted - 2007.04.26 13:45:00 -
[10]
Edited by: Ki''tal Ereza on 26/04/2007 13:41:53
Interesting idea
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Kazzac Elentria
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Posted - 2007.04.26 13:48:00 -
[11]
Originally by: Hexxx
Originally by: Kazzac Elentria
There are a number of web based open source web projects which allow a stock/future trading of any commodity you plug into the content management system.
It wouldn't be to hard to set up.. perhaps a trial run using a known limited commodity amongst trusted investors?
This is where I utter the famous words, "Now why didn't I think of that?"
I've found a few, with one of them being a good canidate. It will need some modifications to do exactly what I want (which is the need to manage deposits and withdrawls of isk for each account) and of course for "aesthetic modifications".
When it's ready I'll do a test with some of the market regulars. Soon(tm).
Looking forward to seeing what comes of it.
Given the potential success it has the chance to have just about anything traded on it. |
Hexxx
Minmatar
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Posted - 2007.04.26 14:14:00 -
[12]
Just to update, I don't have an example yet (I literally don't have the time right now to write a good one for an EVE event) I do want to point out who I'm targeting.
Anticipated demographic of users of an EVE Futures Exchange are the following:
1. Hedge Fund (speculative futures trading, by the way, it would be cool if someone wanted to create the first hedge fund in EVE. This website may in fact allow that.)
2. Producers (mitigating fluctuations in the mineral/components/commodities market)
3. Entertainment (trading futures on events like the winner of the Caldari Tournament, large events, patch deployment dates, when ambulation will be released, etc)
I anticipate that in the initial stages AND the later stages; futures trading will be done by the Entertainment demographic group. With that in mind, the first futures to be created will be specifically for this demographic.
Hexxx LLP - Business Consulting Services - IPO's, Business Plans, Share/Stock Pricing, and general Consulting.
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Balogh
Gallente
Real-time EVE Stock Exchange
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Posted - 2007.04.29 20:37:00 -
[13]
Originally by: Hexxx
Further, and lastly, the previous proposal focused on brokers. I plan to take brokers completely out of the equation. Once someone deposits money into the exchange, everything else becomes automated. The only manual part is the deposit and withdraw of funds.
RESX works basically on the same principle: only deposits and withdrawals of money and shares require manual processing. Everything else is automated.
However, the current infrastructure of RESX doesn't support anything else than simple trading of shares. I've been planning on doing a rewrite, but I haven't really found the time to do so, yet.
______________________________
Real-time EVE Stock Exchange, Blog |
Kazzac Elentria
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Posted - 2007.04.29 21:01:00 -
[14]
Originally by: Balogh
Originally by: Hexxx
Further, and lastly, the previous proposal focused on brokers. I plan to take brokers completely out of the equation. Once someone deposits money into the exchange, everything else becomes automated. The only manual part is the deposit and withdraw of funds.
RESX works basically on the same principle: only deposits and withdrawals of money and shares require manual processing. Everything else is automated.
However, the current infrastructure of RESX doesn't support anything else than simple trading of shares. I've been planning on doing a rewrite, but I haven't really found the time to do so, yet.
Perhaps instead of a rewrite, depending on the success of this a merger could be in order? |
Hexxx
Minmatar
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Posted - 2007.04.30 12:14:00 -
[15]
Update:
Ok, this is at least a month away from happening and there are numerous details to work out.
I'm currently doing a bit of homework on the dirty technical details and I really can't say anything more than that. Don't want to get people's hopes up too high because this is a long term project, but just know that it's being developed. =)
Hexxx LLP - Business Consulting Services - IPO's, Business Plans, Share/Stock Pricing, and general Consulting.
|
Kazzac Elentria
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Posted - 2007.04.30 12:33:00 -
[16]
Originally by: Hexxx
Update:
Ok, this is at least a month away from happening and there are numerous details to work out.
I'm currently doing a bit of homework on the dirty technical details and I really can't say anything more than that. Don't want to get people's hopes up too high because this is a long term project, but just know that it's being developed. =)
I've done the website for my company and a few other clients here where I live, if you still need helping hands Id be more than happy to assist in getting this project off the ground. |
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