Well, what a day. We started off with the surprise of a deposit bonus, which is the first I’ve experienced since joining the platform six weeks ago. Casually checked my portfolio at lunch to find triple digit green numbers staring back at me! My initial reaction was what the hell has Pogba done now, surely not cornrows? I jumped on the bandwagon dumping (investing) another paycheck in and, like many others, didn’t regret it. From our chats on IndexGain the consensus is prices will stabilise and remain like they have every time previously. A sure-fire way to know that confidence is massively up on the market as a whole.
This brings me onto the theme of the trader meet. Confidence was the vibe I got from watching the FI trader meet. Both in the platform as a product and the business as an entity.
So, what was actually said?
One of the first slides consisted of introducing the new leadership team that will oversee parts of the Football Index development. They consisted of highly experienced individuals with relevant sector experience. Looks like they are bringing in the right people to take this product globally and remain successful.
We were given a demo of the new Beta website which is live to use now! www.beta.footballindex.co.uk The new site will run alongside the old one until they are “comfortable” it is fully operational and serving the purpose it was designed for. Key updates include all players having individual URLs which makes for easier sharing, new graphs and data visualisation and a cleaner more informative layout.
Order Books…. YES, ORDER BOOKS
For me and many others this is the major announcement to come from last night. With the new website they are able to integrate their new order book system in the near future allowing the platform to become a truer reflection of a stock market. For those who don’t know order books allow you to set your own price points for buy/sell above and below the market price which creates more strategy for your trading. As an example, you can set up your orders at the weekend and allow your portfolio to work without you watching over it throughout the week. Instant Sell will remain. IPO’s could be integrated into the order system and change it to more of an auction style trade. This would help remove the advantage of speed. This came as a reaction to a question on ‘bots’ buying all the IPO’s when they are first released. The new style of trading could also bring in a removal of the 100-share purchase cap, being replaced by a transaction limit. More to come on that I feel.
3 Year Rule
For all those affected, by that I mean virtually none of us. Any shares currently expiring soon will be given a 12-month extension. All other 3-year expiry dates remain.
So they have kept their powder dry all day to tell us that they are officially live in Canada and New Zealand. Although they did concede they wouldn’t have many customers in NZ. This is still a big step in the right direction. FI’s success of getting regulatory approval in other territories shows that they are doing things right. The mention of western European countries entering in 2019 followed by a large cough of “Germany” was warmly received by the guests and viewers.
An idea that they are looking at is being able to trade fractions of players (I’ll take Ronaldo’s big toe please). This would be an interesting change and with rough details would allow lower value trades for decimal points of high value shares. It smells of cryptocurrency style trading and I for one welcome a Bitcoin style rise, but not so much the drop.
The Big NO’s
The rejections are as follows. No new leagues and no share split. No dividend increases even mentioned! These all did come with the caveat of “for the foreseeable future”. But their stern stance seems to indicate the format is working well as it is for now, which I tend to agree with.
Football Index other big announcement is the intention to move into other sporting markets, including Tennis and Golf. They are looking at any sport that has Opta style scoring systems and a market for trading. A great idea for the progression of the company that would go hand in hand with a move across the pond for a bit of their pie if they so wished.
So to sum up all of that… well I’ll try!
The biggest thing I took away as a new trader was the potential size and scale of growth. FI have a lot of liquidity in the platform now making it a much more stable and sustainable business. Their new acquisitions in leadership should enable them to grow successfully into new territories and give current investors the joy of riding the wave along the way. Lots of ideas were touted to improve or bring more to the platform which is always good for product development and consumer experience. Time frames for most changes will come in line with the beta website replacing the old one. Realistically this will be towards the end of the year. They reiterated this was their main aim at the moment and I can see why. I expect “Order Books for Dummies” sales have gone through the roof, with a copy winging its way to me now. I recommend researching the concept and looking at examples to gain an understanding of the advantages.
Gracias for the kind words of those who enjoyed my running commentary on the IndexGain chat. We are a community that are helping each other prosper financially through the use of data, statistics and a little dash of rumour.
Adios for now