Each stock listed on IPSE has 1,000 initial shares available for trading.
As we stated earlier Inaugural Trading Day is a unique and one time only trading opportunity. On this day you can only BUY stock.
Stock price on this date is static and if there hasn't been a previous posting raising or lowering the value it is assumed to be $100. on Inaugural Day a trader cannot alter existing prices. All buy/selling must occur in the comment section only of the post.
Below is an example posting of a trader's first trade on Inaugural Day. "" denotes what the trader will actually post in the comment section. For uniformity sake please use three lines for posting.
TRADER A: "COH $100,000"
"BUY 10 shares of DDD @ $100"
TRADER A: Is the poster's name.
COH: Cash on Hand - The beginning balance before a trade occurs.
BUY: the type of the transaction. Remember Inaugural Day is BUY only.
DDD: the stock symbol.
$100: current stock price.
BAL: the cash balance after your purchase.
Now here is his second trade of the day.
TRADER A: "COH $90,000"
BUY 20 shares of ABC @ $150
We will periodically monitor the trading to capture macro data and to make sure we catch flaws and mistakes before they occur. Only posted trades are recognized as legitimate and margin trading (trading on credit) is prohibited.
* The trader is required to keep track of all of their purchases.
* The traders must also make sure that during Inaugural Trading Day there are existing stocks available for purchase.
* If after closing we determine that a trader purchased stock that wasn't available the transaction type and time will be announce, the transaction voided and the trader will be allowed to adjust their account balance accordingly.
* Any trades occuring after the we've posted the MARKET CLOSED will be ruled invalid.