LindeX partial fills two limit orders

How can this even be possible? It's a freaking disgrace.

6604105 Limit Sell L$3,248 L$583 L$264 / US$1.00 2008-03-23 08:34:47 Cancel this order
6603548 Limit Sell L$12,952 L$6,040 L$264 / US$1.00 2008-03-23 07:12:43 Cancel this order

you should write a bot to stop the maddness.

Cancel and sell now, it's 264 anyway. Mine haven't even partially filled!

I don't think I explained the situation very well in my initial post. I was so outraged that I couldn't express myself clearly. I guess also no-one but me probably cares about this so it's hardly worth the effort.

Anyway, if I put two limit orders in at 264 then they should be completely filled first come first served. You can't half fill one and then go on and half fill the next one and then come back later and fully fill the first order. I know the LindeX is just a Mickey Mouse exchange but this kind of thing is so obvious it seems like it would be harder to make it fail to work properly than to get it right in the first place.

As I've got two orders in at the moment I care. You're right, one should fill and then the next, I always assumed it worked that way. However after you posted I went to check my orders and neither of them are even partially filled.

I get it. So that is why I see a partially filled one of mine too. Another thing that is messed up.

Er... why exactly is this a disgrace?

As I understand it they fill orders at the same level by sharing them around so that one person doesn't get all the "juice".

I guess I'm not sure why anyone would have two limit sell orders at the same rate.... am I missing something?

The second order partial fill was bigger than the first order, so I guess whatever gubbins does the maths, decided it was better to fulfill the other person's buy order from a single sell order, rather than split it.

The LindeX was initially set up with first in first out management system but it got corrupted over a year ago. I have complained to LL multiple times about it and their answer is always the same, "LL is aware of the problem and our techs are working on it". They have been working very slowly if at all as far as I can see. Everybody should send in a support ticket on it to raise the attention level. The worst case I have seen personally was an oder that started selling before one put in 3 hours earlier for the exact same amount.

Does it really matter? LindeX transactions move so fast that this is not a big issue for me and you can fill a very large order within a day, typically.

Thats been my experience.

Well I have orders that were starting to sell at say L$265/1 and then big orders were entered at L$266/1 which should fill before any L$265/1 order. Typically my L$265/1 partial order will be completed before the L$266/1 order. If you think this is right than fine but I keep complaining and 1 voice doesn't carry much weight.

Well I don't think that the 265 is a problem when you have 40 mil at 264. I have watched it enough to see that that's not a problem. The problem is filling large blocks, not the ones priced to move.

I think LL tried to modify the order execution routine so Supply Linden can dump a single 15 million L$ sell order and not jam up the entire market but they totally borked the system. What is wrong with Supply Linden entering nine 1 or 2 million L$ sell orders spread out over an 8 hour work day?

Because it's supposed to be responsive to market conditions. If it did that when it didn't need to, it WOULD jam up the market.

While I don't see any explicit statement, I interpret the wording on the buy/sell pages and corresponding knowledge base pages as implying that orders at the same price are handled first-in, first-out. Certainly that's what the expectation is.

The idea of one person getting all the "juice" doesn't make sense. One of the legitimate pressures on pricing is the time it takes to fill an order. If you can't wait till it's your turn, then the thing to do is to change your limit price to go to the front, not to gamble that you'll get lucky with some LindeX round-robin assignment.

Besides, daily volume runs 70-80M lindens, while the maximum single transaction runs between 1-3M lindens. So there's plenty of "juice" to go around without having to share it.

As for having two limit sell orders, remember that the commission on sales is a flat percentage. If someone changes their mind and wants to sell more than their original order, there's little incentive to cancel the first order in order to place a larger second order, especially since that means losing your place in line for the first order. This isn't true for buying, because the commission system is per transaction, not a percentage.

Peter Phillips was the guy who set up the LindeX and Supply Linden. It was his policies that stabalized the exchange rate on the LindeX in the fall of 2006. He had plans to streamline the execution of the LindeX and change the limits from a USD based system to a L$ based system once the exchange rate was stable. Unfortunately he left before that was done and from what I have seen since he left nobdy is watching the store except some guy dumping a single sell order for new L$ once a day as LL sees needed.

I stand corrected.

LindeX ignored a small block at 266 and dipped into 264. I was just reloading and reloading and saw it happen.

How f***ing hard is it to do this highest to lowest fifo? Really.

The situation seems to be geting worse.

6679210 Limit Sell L$500 L$500 L$264 / US$1.00 2008-03-29 06:17:12 2008-03-29 16:12:41 fill US$1.89 US$1.82
6682313 Limit Sell L$500 L$500 L$264 / US$1.00 2008-03-29 11:03:07 2008-03-29 14:23:34 fill US$1.89 US$1.82

These two orders were filled yesterday but the following order is still waiting to be filled.

6679061 Limit Sell L$500 L$215 L$264 / US$1.00 2008-03-29 06:00:24

Thr problem is the 6679061 order was placed before both the other orders and the 6682313 order was filled in less than 3 hours while the 6679061 order still waits. It appears we now have some strange lottery system and your orders may or not ever get filled. I filed another complaint a few days ago via a support ticket but still no response.

I placed a Limit Sell on Friday morning at L$264 which filled that evening.

In the meantime, I'd placed a Limit Sell at L$263 on the 15th which partially filled last night.

I'm guessing there was a dip where lots of people were buying L$ and there were no more for sale at L$264, so my L$263 got picked up.

There is (currently) L$40m for sale at L$264, so I'm not expecting the rest of it to fill anytime soon, but not worried as I'd placed that 'sell' order as a kind of 'bank' for an extra month's Tier.

Trust me, it's not hard at all. Provided, that is, you have competent developers.

I'd see this as tied most closely to the 'cost of money' - right now, it's not that big a deal percentagewise and timewise.

For instance, say you sold at 265 instead of 264 - ignoring the exchange cost 3.5% for just a moment, here is the difference:

$L 100,000 / 265 = 377.35 USD

$L 100,000 / 264 = 378.78 USD

difference: 1.43 USD

percent: 1.43 / 377.35 = 0.38%

So we are talking about a third of a percent, here.



Or, for every $L 1 millions or so, that is:

14.30 USD per 3773.50 USD, if you want your payout in hours not a day+.


On a financial level, it's not too scary. But on a technical level... yeah, that glitch is kinda spooky.

Hmm maybe we ran out of Lindens inworld? The Goldfarmers and campers took them all