Ice Brodie
Head of Neo Mobius
Join date: 28 May 2004
Posts: 434
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05-16-2006 10:30
Today I, along with others witnessed several skewed sell orders placed. As we do not know who placed the orders, some speculation that this may have possibly been some form of attempt to subvert the market. With this in mind, what regulations are in place to prevent a dangerous change in market value? I for one would hate to see SL go through a black tuesday, as the US stock market did on the onset of the 30's. Most currency exchanges have heavy federal regulation and safeguards to prevent the currency from changing value too quickly. Most stock markets have safeguards in case of a severe change in market shares. I'm just curious if SL has these same safeguards in place.
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Torley Linden
Enlightenment!
Join date: 15 Sep 2004
Posts: 16,530
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05-16-2006 12:52
Asking about this...
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Robin Linden
Linden Lifer
Join date: 25 Nov 2002
Posts: 1,224
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05-17-2006 20:13
There are limitations to how much any individual can trade on the LindeX exchange in a specific time period, so no one could by themselves subvert the market. If we see a pattern of trades that suggests there is an attempt being made by a group to destablize the market we will halt trading, much as the NY Stock Exchange would. The rules for market participation are as follows: Main Grid Residents whose accounts are less than 45 days old will be restricted to:purchasing no more than US$150 worth of L$ per rolling 30 days selling/posting no more than US$2000 worth of L$ per rolling 30 days Main Grid Residents whose accounts are 45 days old or older will be restricted to:purchasing no more than US$2000 worth of L$ per rolling 30 days selling/posting no more than US$2000 worth of L$ per rolling 30 days Teen Grid Residents will be restricted to:purchasing no more than US$25 worth of L$ per rolling 30 days selling/posting no more than US$2000 worth of L$ per rolling 30 days Additional tiers with increased limits are available to Main Grid residents that are 45 days old or older. For more information about the additional tiers and how to apply for them please click here.
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