limbaugh
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Activity: 1311
Merit: 1000
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July 31, 2013, 03:14:49 PM |
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I think I need to address this again, because of my vague words. :/
It's:
1. Top-Down
2. First-In
That's how it would work if the IPO was executed like any other sell order - It's unclear if there are special rules in place for IPOs or not, and different people are posting conflicting information. I mean, what happens if you have an early order at 0.001, and enough bids come out at or above 0.001001 to buy up all the shares? In that case would it be better to cancel your order and put in a new one at a higher price, or keep your bid in order to stay at the top of the queue? There is nothing special about the initial ask an issuer makes in their IPO. Thus the bids will get filled auction style, first by price, then at each price by whomever got their order in soonest. I understand there are questions around the fairness of this, but I don't have time to rewrite anything special. It seems to me that this method of filling the ask is in the best interest of the company filling the IPO anyway? Cheers. Quoting for reference Yep, throw the timestamps out... |
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TheSwede75 (OP)
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July 31, 2013, 03:15:45 PM |
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For everyone wearing out the F5 button on their keyboard: We will NOT release the IPO without a prior notice here (and in top-post) explaining our solution/reasoning etc. There is no need to stay updated on a minute-by-minute basis. we are currently still considering options for a fair resolution.
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damiano
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Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
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July 31, 2013, 03:16:46 PM |
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just limit every order to 5k to 10k problem solved
everyone gets a piece of the pie
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Ytterbium
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July 31, 2013, 03:17:11 PM |
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It wasn't just random people saying bids would be filled from the highest down, it was also Burnside himself.
A fair way to do it would be to look at canceled orders as well - if someone canceled an order for X shares, then ordered X shares after 2013-07-31 15:34:00, it should still count as their 'original' order size. Amazingly the timestamp on my order is 15:33:43. literally just 17 seconds earlier!. I still have another, smaller order from last night at 7:45:15, and that was only a little bit before my larger initial order was placed. |
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yxxyun
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Activity: 99
Merit: 10
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July 31, 2013, 03:17:22 PM |
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yes ,i'm the first bid at 0.001, after a few hour i had to rise my bid price because i'm afraid of be kick out the sequence...
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cix888
Newbie
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Activity: 54
Merit: 0
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July 31, 2013, 03:17:25 PM |
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For everyone wearing out the F5 button on their keyboard: We will NOT release the IPO without a prior notice here (and in top-post) explaining our solution/reasoning etc. There is no need to stay updated on a minute-by-minute basis. we are currently still considering options for a fair resolution.
Ok I'm going for a cigarette then but in doubt just whippet the book  |
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limbaugh
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Activity: 1311
Merit: 1000
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July 31, 2013, 03:18:12 PM |
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just limit every order to 5k to 10k problem solved
everyone gets a piece of the pie
Good idea, only accounts created before 7/30 can participate in IPO |
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aquarius
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July 31, 2013, 03:20:20 PM |
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yes ,i'm the first bid at 0.001, after a few hour i had to rise my bid price because i'm afraid of be kick out the sequence...
I also had to move my early bids from 0.001 upwards because of this |
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LordMeowMeow
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July 31, 2013, 03:22:08 PM |
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I think TheSwede75 is trying to do his best, but the whole thing is turning into a kind of a show now.
First there was a statement that before the trading there will be up to 16-24h time to make a bid. It was changed.
Then higher bid wins is going to change to yet unknown formula.
Then You state that You don't want to take any more money per share than 0.001 but taking circumstances You will do so.
So i think IPO should be delayed and solution should be worked out in a calm and steady pace instead of this rush.
Giant +1 I woke up this morning to an IPO I wanted in with tons of orders and no chance to get in. I specifically asked if a warning would be given. Honest mistake I am sure but this situation is simply not fair. |
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Ytterbium
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July 31, 2013, 03:22:42 PM |
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Good idea, only accounts created before 7/30 can participate in IPO
Why would they want to exclude people who signed up just to buy this stock? |
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limbaugh
Legendary
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Activity: 1311
Merit: 1000
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July 31, 2013, 03:23:28 PM |
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Good idea, only accounts created before 7/30 can participate in IPO
Why would they want to exclude people who signed up just to buy this stock? To prevent multiple account being created to skirt the cap. If there were a cap. |
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vlaoou321
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July 31, 2013, 03:24:19 PM |
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How about this. Chronologically later than 0.001 will allow, in chronological order to obtain 0.001 IPO shares. Because the mind does not intend to profit in the auction, but the price to sell shares to 0.001,
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TheSwede75 (OP)
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July 31, 2013, 03:25:47 PM |
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Good idea, only accounts created before 7/30 can participate in IPO
Why would they want to exclude people who signed up just to buy this stock? To prevent multiple account being created to skirt the cap. If there were a cap. I do not predict this being a problem. At least not on any 'scale' as creating a bunch of sock-puppet accounts 'just in case' seems like quite an undertaking when no solution has been posted yet. Then again, I also didn't predict the asset to be approved in 7 hours or with this interest so maybe I should just stop predicting things...  |
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Ytterbium
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July 31, 2013, 03:26:11 PM |
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Good idea, only accounts created before 7/30 can participate in IPO
Why would they want to exclude people who signed up just to buy this stock? To prevent multiple account being created to skirt the cap. If there were a cap. No one is going to create 100, or 1000 accounts, it's too much work. On the other hand, everything they do with the bids has to be done by writing code or at least SQL queries. Adding more and more restrictions is and rules is going to make the whole process more and more complicated, and more prone to error and oversight. |
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E.Sam
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July 31, 2013, 03:27:49 PM |
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I think since I live in the Uk, I have blues eyes and I'm circumcised, my order should be filled in first...  |
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vlaoou321
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July 31, 2013, 03:28:26 PM |
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Good idea, only accounts created before 7/30 can participate in IPO
Why would they want to exclude people who signed up just to buy this stock? To prevent multiple account being created to skirt the cap. If there were a cap. Why more people involved? If the stock IPO just to let more people involved. The world will not |
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wiak2
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July 31, 2013, 03:29:04 PM |
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This IPO is a clusterfuck.
If, as you have said, you're not interested in this stock, then get the fuck out of here. No reason to sit around and criticize. |
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foxykah
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July 31, 2013, 03:30:19 PM |
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This IPO is a clusterfuck.
If, as you have said, you're not interested in this stock, then get the fuck out of here. No reason to sit around and criticize. +1 |
Good things come to those who wait.
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VinceSamios
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July 31, 2013, 03:30:30 PM |
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I think since I live in the Uk, I have blues eyes and I'm circumcised, my order should be filled in first... +1 best logic. |
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VinceSamios
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July 31, 2013, 03:30:59 PM |
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This IPO is a clusterfuck.
If, as you have said, you're not interested in this stock, then get the fuck out of here. No reason to sit around and criticize. +1 Call me evangelical... trying to save the paupers. |
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