Any news on order books ?



  • Is there any update on the implementation of order books ?
    I've been listening to podcasts and reading forum and see it's been mentioned many times going. Back 12 months but nothing recent other than 2 months ago
    Is this going happen ? And is there any timeline for it ?



  • They published this in late June. It’s mainly about spreads, but confirms their commitment to order books.

    https://footballindex.news/spreads-26th-june-2019/



  • After using order books on Footstock im a little concerned for its use in FI. I understand why people want them and they are great when ot comes to selling but what i have noticed is that they really can limit a players growth in value because everyone just lists their buy or sell orders for a penny less or a penny more than is already listed meaning prices come down unless no one is selling which is unlikely. Im struggling to filly understand how it will work on here, will it mean that prices are no longer affected by X amount of shares to move 1p? And will we only be able to sell to others rather than instant sell back to FI like we can currently? Also will it replace the current trading format or will it be an additional trading option? Eg will each player have a buy price, sell price and then and orders option?

    I only have concerns because the trading on FI works very well and im worried order books may end up being more of a problem than an improvement



  • @Coleyscrooge

    Good article that. Nice one.



  • @Black-wolf this is the first comment I've seen asking whether order books would be a good thing or not and I must say it mirrors what I have been thinking for a while. There are obviously a few admin type matters that could be improved (updating player clubs, bios, etc. and an improved search function being some fairly obvious ones) but the mechanism for buying and selling players is what I enjoy and I don't particularly want to see this change in the short term.



  • @Mintyfresh apparently IS will still be available



  • @Mintyfresh yeah im the same and i dont know if you have played about with Footstock or not but it uses an order book selling system where you can set your buy and sell prices which does work great but prices only tend to fluctuate up and down rather than grow because someone will always under cut by a penny to move to the front of the queue and so the prices slowly drop

    You are constantly trading to make any money on fluctuations rather than growth.



  • If people are continually just listing sell orders for a penny list on Footstock to get to the front of the queue that simply tells me there isn't enough liquidity in the market.
    The share spilt was key to order books as the number of futures now in circulation on players means there will be plenty of liquidity - especially at the top end.

    What do you think would happen if people just kept listing Neymar a penny less and a penny less to sell? He wouldn't get too far down before buyers are snapping him up and then anyone selling isn't getting full value for their futures.

    This will be the best thing that happens for FI in the long run although Im sure it will need FI to continue to support IS for a fair while particularly lower down the market where there is less liquidity - but they have already committed to doing this.



  • @Black-wolf I'm also sceptical. Itl be yet another big change to get used to. I had the market 'sussed' pre split... Had to adjust strategy big time post split. Will probably have to do so again with order books. I'd rather not have them



  • @Vespasian32 said in Any news on order books ?:

    @Black-wolf I'm also sceptical. Itl be yet another big change to get used to. I had the market 'sussed' pre split... Had to adjust strategy big time post split. Will probably have to do so again with order books. I'd rather not have them

    Ever since they were hinted at, I've been eagerly anticipating their introduction.
    I imagine one or two teething problems but then it will settle down and take FI to the next level.

    It will be much more of a genuine "trade" between users as opposed to just whacking your shares in a lottery of a queue and wondering at what price you'll eventually sell at.

    And FI did state they will be keeping the IS option too.

    Everyone wins



  • @janner73 probably but it will happen to an extent im actually worried that more users will mean we see this affect of under cutting might be amplified. Anyway we’ll see what happens maybe i just dont like change



  • @ScouseSte but the price of shares will no longer go up based on volume bought? Or will FI still sell shares where there is excess demand and set a guide price?



  • @ScouseSte depends how they do it. Will it be a shopping list of potential buys an sells or will it just be highest buy price gets the purchase and lowest sell price gets the sale. If its a list ill be happier than just being able to list a buy or sell at the front of the que



  • @Black-wolf In all honesty the more users the better as the more liquidity in the market the better order books work.
    I personally feel at the moment that IS makes it TOO easy to buy worthless assets with the safety net of IS. Although this will be there for a fair while after order books are introduced for a market to truly be effective it shouldn't be so easy to get out of a trade where you've overpaid for something. We will all need to be better traders as we will when market cap eventually gets reached but that's a good thing.



  • @Vespasian32 said in Any news on order books ?:

    @ScouseSte but the price of shares will no longer go up based on volume bought? Or will FI still sell shares where there is excess demand and set a guide price?

    Yes this is what im trying to get at 👆🏻



  • @janner73 without IS I will withdraw all my money. It becomes too much like conventional win or lose gambling. Even if it isn't... That's what itl feel like to me, with no reasonable assurance that I can withdraw at anytime (I know FI can suspend or withdraw IS)



  • @Vespasian32 said in Any news on order books ?:

    @janner73 without IS I will withdraw all my money. It becomes too much like conventional win or lose gambling. Even if it isn't... That's what itl feel like to me, with no reasonable assurance that I can withdraw at anytime (I know FI can suspend or withdraw IS)

    If you read the article mate, he states that's exactly WHY iS was introduced. They'll never get rid of it, based on your reaction alone (echoing most traders I'd suspect)



  • @Vespasian32 I think it will be a long time before FI withdraw that but surely that has to be the long-term goal. If I buy something for 50p that's really worth 10p in all honesty why should I be able to sell it for 48p?
    If you paid £5000 for a car that was only worth £3000 you wouldn't expect to be able to quickly sell it for £4900.
    IS is there because the market needed it, and it will continue to do so for a significant time until the market can sustain itself, but I believe at some point a few years in the future it will go.



  • @janner73 yeh but I don't put all my disposable cash into second hand cars for a reason. 95% of the market will never win pb or MB... But all those sub 50p players out there can win ipd, and possibly return 5% or so in a short period of time. Its high risk, but you can have a good estimate what your buy price is and what your sell price and commission will be, so you know how much gna the player needs to make the trade profitable.
    With no security over selling... Risky short term trades disappear... And along with it 95% of the market.
    Neymar and pogba have rinsed mb this past month or so... But people don't like to pay the high prices and risk buying these players... But surely order books will force people into the safer holds that return divs. So you will lose a lot of risk averse traders as well as your match day flippers.



  • @janner73 said in Any news on order books ?:

    @Vespasian32 I think it will be a long time before FI withdraw that but surely that has to be the long-term goal. If I buy something for 50p that's really worth 10p in all honesty why should I be able to sell it for 48p?
    If you paid £5000 for a car that was only worth £3000 you wouldn't expect to be able to quickly sell it for £4900.
    IS is there because the market needed it, and it will continue to do so for a significant time until the market can sustain itself, but I believe at some point a few years in the future it will go.

    When I say IS will eventually go I mean from an FI point. I'm sure there'll bring in market makers to help with liquidity and in 99% for cases I would expect spreads to significantly improve as a result. I can almost guarantee that there would be buy orders in on Neymar right now higher than his current £7.30 IS price meaning anyone wanting to sell would get a better deal.


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