Fig, first thing that strikes me about this is that they're using the hatred of spreads by everyone to get rid of Instant Sell. I always Thot it was a great bonus feature (which can stabilise the market to a degree) but would cost FI money. The order book thing doesn't solve spreads in my view, just means people have no IS anymore and can be stuck with bets, especially ones that they have set through a order book. For example, someone sets Salahs price on an order book to buy 100 @ 7.00 if he ever drops that low, then he breaks a leg, that person gets that, and hes stuck with them at that when the injury turns out to be a career ender. So therefore stick with the bet with no IS option. It's genius on FI point of view as they've taken away a huge chunk of liability on bets and 'dressed it' as an order book and talked about it as a solution to large spreads, I feel it'll just create new problems for people. It will undoubtedly create a more profitable FI however and looks after their business in the long term.
This is not how the order book works! Once the order book arrives you will still be able to instant sell.
In addition to instant selling, the order book gives you the option of a buy/sell price at a value you are happy with. (in line with normal stocks and shares accounts)
Examples of why this is useful;
- If you buy a player at £5.00 and are happy to sell him at £5.50, then a Sell order will sell automatically once he reached that price, so you don't have to check all the time.
- The same works in reverse. If you are worried he will fall in price, you can set a Sell order of £4.50. If the players then breaks his leg and you didn't check FI that day there will be no need to worry as the player will automatically sell at £4.50
- The same can be done for buying players at a price you are happy to pay.
This allows investors to be a bit more confident with their money as they do not have to check football media outlets several times a day in fear of bad news for one of their players.