Well done FI team!πŸ‘πŸ‘πŸ‘πŸ‘



  • Just read the announcement and still digesting it as I'm sure most are.
    Theres been alot of fear regarding order books since the anouncement last week and unsurprisingly so as we all fear the unknown and because of lack of details.
    My first feelings of this anouncement are massively positive. As I expected it looks nice and simple, you can buy and sell at market price as usual just with the added feature of making and receiving lower offers if you choose.
    The main points I pulled from it;
    β–ͺ︎highest bid becomes IS price, which I really like!
    β–ͺ︎2% commission to paid on bids (free initially) you make, not on market price purchases. Again I'm happy with that as it means you need to think about bidding a bit and FI continue to make money which is essential for all of our success.
    β–ͺ︎you can only have bids out on 10 players at a max 300 shares each at a time and money is deducted from bidders account when they bid. I like this as it stops people (@Ericali ) adopting a scatter gun approach which would litter the market with bids.

    Happy days from my point of view. I can continue as normal this does not effect my strategy and may just help me get a better deal on my next targets or my top ups and will really help the market liquidity.
    So FI get alot of stick when they get it wrong and even when they dont. The team have put alot of time,thought and energy into this and imo have done a great job so far with the 1st phase. So I for one just want to say thankyou and well done!β˜ΊοΈπŸš€πŸš€πŸš€



  • @Splurger_Dan Great summary Dan. One point, I think the limit is 10 bids of 300 per player at any time, not overall.



  • So if player x is Β£1 per share buy price and there’s a sell order for 99p you could buy 100 from FI for Β£100 but if you baught 100 at 99p this would be Β£99+2%(Β£1.98) = Β£100.98 meaning you’d pay more am I right in this example



  • Am glad you understand it @Splurger_Dan as I’m lost as to how I’d sell a player without selling at a lower rate.

    Surely if you market sell (sell queue) you won’t sell as people will just be buying for a lower price via the bids mechanism.

    I’m a cap app trader with mainly medium/long term holds but my mind is blown. Probably because I’m new and have no experience whatsoever in OBs



  • Can somebody please let me know how would the price move 1p with this new "matching machine"?



  • @Lloyddavies yeah bidding should be at least 2% less than market price otherwise you’ll pay more



  • Has anybody got an actual like to the news/announcement as I am on an oil rig and it thinks my network is abroad n no vpn. So can get on safari but not the app :-( please



  • @Victory the same as it does currently, when a player is in demand then people would be unlikely to accept cheaper buy orders and therefore the only option is to buy now through the current market option





  • Overall looks a clever way for FI to close the spreads and allow money out to be funded by us (buyers) we benefit from some perceived bargains and they generate extra commission from the buyer, win win win for them, us (buyers) and us (sellers). Seems very clever.
    Do we (buyers) still pay the 2% if we cancelled the bid?
    And does anyone know where our/their money is held - I’m assuming they hold say 15/20% of the Β£110/20m accessible for withdraws (IS) and invest the rest? which they now don’t need to hold (if they did) as they are removing the IS. I think this is a concern as to where the underlying cash is or has been invested - or maybe I’m barking up the wrong tree - but if no one buys we are all worth Β£0 rather than the historical IS which would have got us say 60/70% back.



  • @Ddr Are you saying that the price doesn't move when somebody places a bid and purchases successfully?



  • @Gazza commission is only on matched bids.



  • @Gazza said in Well done FI team!πŸ‘πŸ‘πŸ‘πŸ‘:

    Do we (buyers) still pay the 2% if we cancelled the bid?

    No



  • @TotalPunt said in Well done FI team!πŸ‘πŸ‘πŸ‘πŸ‘:

    @Splurger_Dan Great summary Dan. One point, I think the limit is 10 bids of 300 per player at any time, not overall.

    Yeah that's what I thought aswel. Think I did'nt phrase it great in my haste!



  • @Victory Correct, as that is simply a matched trade. Share prices move exactly as they do now.

    Someone buys new shares at market price = price goes up

    Someone lists shares for sale at market price = price goes down



  • @Splurger_Dan "you can only have bids out on 10 players at a max 300 shares each at a time and money is deducted from bidders account when they bid. I like this as it stops people (@Ericali ) adopting a scatter gun approach which would litter the market with bids."

    ^^^^^
    It stops all the whales plugging all the holes too...

    Leaving the Joe Average trader the chance to pick up some great bargains to fill the (many) remaining holes that can't be plugged by the BIG accounts



  • @Erased-Citizen seems fine to me mate. You just market sell as usual. Just imagine the Bid as the new replacement for IS. I dont imagine people will bid just a penny or so under market price as it wouldnt be worth it with 2% commission when fully implemented



  • @Splurger_Dan said in Well done FI team!πŸ‘πŸ‘πŸ‘πŸ‘:

    @Erased-Citizen seems fine to me mate. You just market sell as usual. Just imagine the Bid as the new replacement for IS. I dont imagine people will bid just a penny or so under market price as it wouldnt be worth it with 2% commission when fully implemented

    But surely nobody will be buying at a market sell level as they’ll all by buying at a lower price via the bids platform.



  • @Advinculas-Index there’s a limit on how low one can bid 60% of value is the minimum I think



  • @Erased-Citizen more users more buyers prices will still rise after full implementation they got to be looking at expanding


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