FI Update 8/1/2021: They're Removing IPD's In 30 Days



  • Dear Traders,

    As we enter 2021, I wanted to take this time to reflect on last year and address you directly on the challenges we have faced, as well as on the opportunities we can look forward to.

    Without a doubt, 2020 has been a tough year. The team here at Football Index have worked incredibly hard on some essential changes to the platform and on pushing forward the updates and enhancements which were most needed at the time.

    However, it is clear that there are still some challenges to address going forward. That is why, after careful deliberations, I am announcing today some changes aimed at making Football Index a better and more fun trading environment for all.

    Dividends

    Back in September, in response to customer feedback we increased Dividends. However, with a fixture backlog which continues to drive more frequent matches, there is now an overemphasis on In-Play Dividends that has driven short termism and, in extreme circumstances, suspected collusion to ‘refresh Shares’ at the lowest possible price.

    In short, In-Play Dividends are having an unintended effect on the market. Previously, they carried a way for footballing events to drive trading in an intuitive and effective way. Today, this is no longer the case. As such, as of today we are giving 30 days’ notice that we are drawing an end to In-Play Dividends, in order to immediately stop some of the short term trading dynamics it encourages. We will continue to pay out In-Play Dividends up to and including matches played on 7th February 2021. This change will allow us to focus these funds on more healthy market stimuli.

    One such focus will be the introduction of new trading incentives and opportunities, incorporating each position category, to go live before IPDs end. More details in the coming weeks.

    Until now, In-Play Dividends had been a major blocker to our long held ambition of accepting overseas customers from countries such as Germany. This change, however, removes a significant barrier to entry, and we are now looking at alternative territories alongside our other platform initiatives.

    Projects

    On the topic of ongoing projects, I am aware that many of you have been requesting an update on Nasdaq and other initiatives which have been in the pipeline for some time. More than ever, I want to offer clarity and transparency to our community.

    However, in my new position as CEO, I am currently in the process of reviewing all projects and the overall structure of the business. I will update you as soon as this assessment is completed. As I mentioned in my last address to you, I want to shift the emphasis and culture from promises to delivery.

    Our focus remains on giving precedence to the projects that provide the most upside to our customers and that make Football Index a fun and enjoyable experience for you all.

    Looking forward

    Trader feedback has always been crucially important to us. We understand that some of you feel disappointed and have concerns about the way that the market has performed over the course of the past year.

    I would like to assure all our Traders that I hear you, and that your enjoyment of our product remains my top priority. While these times have been tough, and remain so in many ways, my goal is to progress having learnt from these experiences, both positive and negative. I hope to channel these lessons into making our product more enjoyable than ever.

    The New Year also brings an opportunity for a fresh start and new ideas. I hope that you will all join me and the new leadership team on our journey to make Football Index an entertaining and sustainable opportunity for our Traders.

    In the meantime, on behalf of the whole Football Index team, I hope you and your families stay safe and well during the latest lockdown, and enjoy a prosperous and healthy 2021.

    Mike Bohan

    CEO, Football Index

    https://trade.footballindex.co.uk/update-080121/



  • and so the dividend reductions begin.....

    The beginning of the end.



  • @NewUser395078

    It does look like that but let's not jump to conclusions.

    He talks about some further incentives that will be in place for each position. Might this be tiered PB?

    Glad to hear them talking about Germany and international markets again but with no time frame mentioned, who knows how long that might be.



  • I believe this is a positive step forward.
    They plan to reinvest the money that is paid out in IPD, this must be a significant amount and it sounds like the plan is to invest in a way that encourages trading. Maybe tiered PB payouts?

    The IPDs was a hurdle in gaining the relevant regulations that will allow the company to access the German market, this can now move forward.
    We have to wait and see but I believe this is a positive statement, people who trade purely for IPD may disagree.



  • They plan on replacing it with something that doesn't encourage short term trading.

    So maybe Tiered PB? Lets wait to see what happens in the next month before it goes.

    I hated IPD's. Never ended up worth it most of the time, but like a rabbit it was easy to follow in play scorers many many times.



  • @Dan-The-Man said in FI Update 8/1/2021: They're Removing IPD's In 30 Days:

    @NewUser395078

    It does look like that but let's not jump to conclusions.

    He talks about some further incentives that will be in place for each position. Might this be tiered PB?

    Glad to hear them talking about Germany and international markets again but with no time frame mentioned, who knows how long that might be.

    95% of players now completely useless, and the tiny bit of liquidity the market did have, completely wiped out in one go.

    Yes, very positive move



  • @Sill7 I agree. It will be interesting what they chose to bring in its place. Tiered pb would be very interesting and give a chance for cheap players to stand a chance of returning dividends.



  • @NewUser395078 said in They're Removing IPD's In 30 Days.:

    @Dan-The-Man said in FI Update 8/1/2021: They're Removing IPD's In 30 Days:

    @NewUser395078

    It does look like that but let's not jump to conclusions.

    He talks about some further incentives that will be in place for each position. Might this be tiered PB?

    Glad to hear them talking about Germany and international markets again but with no time frame mentioned, who knows how long that might be.

    95% of players now completely useless, and the tiny bit of liquidity the market did have, completely wiped out in one go.

    Yes, very positive move

    I'm not saying it's a positive move my man, I'm just saying, let's hear what the other part of the plan is first.

    That said, I do think it's pretty ridiculous that they didn't announce the whole plan. It's like they wanted to cause speculation/panic. Why not just explain what it is they are swapping it for? What was the rush in getting the announcement out?



  • I’m made up ipd has been removed. Traders like me who invest in long term mb players like pogba and pb’s best Messi. The money will be invested elsewhere which will benefit traders who have long term players.

    It will make it more of a investment platform rather than gambling short term platform



  • My concern here is that they felt they had to make an announcement on IPDs before being able to confirm any new initiatives. Given my portfolio has gone down 5% in under an hour suggests that despite the positive sentiment about removing IPDs people are selling up.



  • It sounds like the pay per high score which some people have been screaming for.

    They really should have announced the new initiatives at same time.

    If that is what is going to happen then I am in support but it's been very badly managed in that really there should have been 6 months notice.



  • @Marcjuliofc

    Yeah, might be worth selling up too. Not to cause panic or anything but given that there's a new announcement coming, there's probably going to be an opportunity that you'll want cash for.

    Also, potentially another huge dip.



  • Agree that they should have announced the replacement for IPD at same time, who wants to trade not knowing how the bet is going to be rewarded



  • That’s fucked up the one’s goal keeper heavy



  • @Marcjuliofc said in FI Update 8/1/2021: They're Removing IPD's In 30 Days:

    My concern here is that they felt they had to make an announcement on IPDs before being able to confirm any new initiatives. Given my portfolio has gone down 5% in under an hour suggests that despite the positive sentiment about removing IPDs people are selling up.

    This

    Why not wait. Some will read this as a pure dividend drop. If this isn't the case and its replaced by something its a bit of a brain fart to not parallel announce.



  • @Dan114114

    How so?



  • Great way to collapse the market, just as it was springing back to life.



  • Tiered pb? How will that work if it comes in?



  • @Dan-The-Man no IPD for goalies clean sheets,made a killing on that since it was introduced



  • @Dan114114

    Fair enough.

    Can't say I've ever been too fussed about IPD's but it did present exit chances, so whatever they replace it with, still needs to keep some incentive for people to buy on game day or getting out will be even harder.


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