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;
▪︎highest bid becomes IS price, which I really like!
▪︎2% 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.
▪︎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.
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!☺️🚀🚀🚀