New Clearing Rule
e have implemented a new trading rule to make your UpDown.com trading experience even more lifelike.
Our new Clearing Rule restricts actions on portfolio positions until the volume of your trade clears in the real marketplace. For example, if you buy 100,000 shares of a stock, you now have to wait for 100,000 shares of that stock to trade in the real marketplace before you can sell those shares. This will prevent UpDown members from making trades at unrealistic volumes and profiting from small changes in price.
The rule will affect you only if you trade low volume stocks in very high volumes over short periods of time. Most UpDown members will never come across it.
Again, the Clearing Rule is in place to better simulate real-world conditions so you can get the most out of your trading experience on UpDown.
Please let us know if you have any questions or comments about this new rule!
The UpDown Team
Tags: Clearing Rule
July 3rd, 2008 at 1:27 pm
Is this working right? I’m trying to buy 7000 shares in a volume of 36 million, and have been waiting over 15 minutes.
July 3rd, 2008 at 3:05 pm
Hi cher04,
Were you trying to make that trade after 1:00PM? If so, your waiting period was due not to our Clearing Rule, but rather to the early closing of the markets for the July 4th holiday.
If this is not the case, please let me know and I would be happy to take care of it for you!
Regards,
Brendan
UpDown Team
July 6th, 2008 at 4:33 pm
I entered the trade at 12:48 EST, so it had 12 minuites to clear. I entered another trade at 12:49.