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Author Topic: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE  (Read 97627 times)
ultima
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November 25, 2011, 12:03:05 PM
 #21

Can't wait to test it Smiley
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Fireball (OP)
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November 30, 2011, 03:40:18 PM
 #22

I updated screenshot again with the latest improvements. I'm starting to feel more or less satisfied by it, and now moving on to finish other remaining things Wink

Status update will be posted to the first message.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
Fireball (OP)
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December 01, 2011, 09:00:41 PM
 #23

I need testers, who would test the webinterface. If you are ready, please follow to https://icbit.se and register there to get an account. Then please PM me and I will drop you a link to the web client.

The key is to make this platform really usable by community. That's why I need your input.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
finway
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December 05, 2011, 11:16:35 PM
 #24

Nice!

Fireball (OP)
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December 06, 2011, 09:11:52 AM
 #25

Great idea, and something people in the community have been asking for for quite a while.
Thanks!

It would be nice if you added some sort of contact information to the website, and list some sort of information about who you are. People are understandably reluctant to send money to totally annonymous strangers.
Yes certainly, the system currently is in testing stage and does not accept any real money, so that's why I didn't put any "imprint" yet. The website's frontpage is going to be reworked soon to be more informative and friendly.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
Fireball (OP)
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December 10, 2011, 07:25:25 PM
 #26

Update: I fixed some usability issues in the web trading interface, and most of the effort is now going into the trading engine development (it's easy to do a simple one, but I'm making an advanced, very fast one so it takes a bit more time to test and develop it than I originally estimated).

However, the development process is approaching the beta stage steadily, and I will be putting up more information here and on the informational website.

Also, I was shown drafts of the cross-platform desktop trading application, it really looks promising. I will post a screenshot of it soon.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
Fireball (OP)
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December 12, 2011, 04:12:35 PM
 #27

I updated the web interface screenshot and moved it to the first post, so everyone could see it without scrolling.

As you can notice, it's nearly feature complete right now, with the only exception that variation and maintenance margins are not shown - I'm working on implementing this right now. Also, another remaining part would be to connect the chart to the historical data server so it shows live data.

Trading engine also executes trades now. I would measure performance somewhen, but it should be really fast (which is a core feature - I guess a lot of you are tired with slow orders placement, delays and lockups of other exchanges).

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
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December 19, 2011, 02:06:12 AM
 #28

watching

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
Fireball (OP)
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December 19, 2011, 10:02:05 PM
 #29

* Variation margin transfer and calculation is done;
* Trades fees are subtracted when the trade happens;
* Maintenance margin is also calculated and reserved from the account;
* Improved balances handling, implemented execution price calculation;
* A whole lot of other improvements and implemented details;

What's essentially missing before real world testing could be done:
* Implement check whether the account has enough money to open the futures position
* Export historical trade data (partly done)

Implementation ETA for the above mentioned points is tomorrow.

N.B. Don't try the trading right now, the engine is turned off for overnight maintenance.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
Fireball (OP)
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December 20, 2011, 09:16:08 PM
 #30

* Implement check whether the account has enough money to open the futures position
* Check orders validity at all possible stages of trading engine so that under no circumstances an order which has not enough money behind it is going to be executed.

Done, alpha testing is due tomorrow and afterwards I invite you to beta-test the engine.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
Fireball (OP)
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December 21, 2011, 10:18:59 PM
 #31

Done, alpha testing is due tomorrow and afterwards I invite you to beta-test the engine.
Preliminary testing was done today, and many small issues are ruled out. Everyone registered in the system by now got test 100 BTC in their accounts, and trading engine runs right now, but:

1. Historical data exporter is not finished (ETA - tomorrow), so the graph doesn't show trades which happen.
2. There is no market maker, so the order book looks very empty unless someone creates an order.
3. Some tutorials, tooltips would be beneficial because not everyone is familiar with futures trading.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
finway
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December 22, 2011, 12:54:03 AM
Last edit: December 22, 2011, 01:04:31 AM by finway
 #32

Preliminary testing was done today, and many small issues are ruled out. Everyone registered in the system by now got test 100 BTC in their accounts, and trading engine runs right now, but:

1. Historical data exporter is not finished (ETA - tomorrow), so the graph doesn't show trades which happen.
2. There is no market maker, so the order book looks very empty unless someone creates an order.
3. Some tutorials, tooltips would be beneficial because not everyone is familiar with futures trading.

EDIT:
Issues:
1.  i placed sell order  @35 and buy order @ 36,   no deal ?
2.  the order book eat higher bid.

Fireball (OP)
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December 22, 2011, 11:13:53 AM
 #33

Issues:
1.  i placed sell order  @35 and buy order @ 36,   no deal ?

Thanks for testing! Obviously, you can't buy your own sell order. The issue is however is that it's still shown as "active order", I'll add code now so that such orders are marked as rejected without polluting the order book.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
Fireball (OP)
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December 22, 2011, 08:54:33 PM
 #34

Issues:
1.  i placed sell order  @35 and buy order @ 36,   no deal ?
2.  the order book eat higher bid.

1 is totally fixed now, along with other necessary scheduled improvements for today (finished orders validity check, so all invalid orders which are like buy-sell yourself, or no money to maintain the order/pay trading fee).
2 - order book is especially limited in the view size. It shows only 5 best bids/asks from each side. So your higher bids are still in the trading engine, but are not visible. If necessary, the order book snapshot could be enlarged.

Bytheway, to give you an understanding of the trading fee for the $100-sized USDBTC contract, it is set to 0.01 BTC now (so that trading futures is really cheap compared to trading actual currency).

Also those who came and found their account balance to be 0 - I put 100 BTC to your accounts too (in reality an account is opened when you visit the trading client for the first time, so that's why your accounts were not loaded up yesterday).

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
Pontius
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December 26, 2011, 05:39:40 PM
 #35

watching:)

Me too.  Grin
smickles
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December 28, 2011, 02:52:54 AM
 #36

Have you explained somewhere how the margin is set or at what point a margin call would occur?

Fireball (OP)
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December 28, 2011, 09:03:14 AM
 #37

Have you explained somewhere how the margin is set or at what point a margin call would occur?
I'm going to post a thorough explanation plus a tutorial on how to use the web trading client on the website.

Right now we are finishing the charting functionality.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
smickles
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December 28, 2011, 05:58:42 PM
 #38

Have you explained somewhere how the margin is set or at what point a margin call would occur?
I'm going to post a thorough explanation plus a tutorial on how to use the web trading client on the website.

Right now we are finishing the charting functionality.
Cool, I look forward to it.

bc
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December 31, 2011, 03:04:23 AM
 #39

watching

"Democracy is the original 51% attack." - Erik Voorhees
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December 31, 2011, 10:14:21 AM
Last edit: December 31, 2011, 12:42:30 PM by Fireball
 #40

Thanks for your testing the trading engine code gets more and more improved (some problems were fixed, so the engine was offline for some period of time).

I think I will put up a green/red indicator to the web client which shows whether the engine is working or is turned off (maintenance mode).

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
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