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To prepare for how the Index will change, we’re introducing a mini version of the software we’ll see from NASDAQ. It’s called the Matching Engine. Think of it as a stepping stone to get to our fully-fledged Order Books.

The Matching Engine is expected to launch across Football Index platforms within a fortnight and we'll update you with a launch date in due course. You’ll need to update your app and accept our updated Game Rules to continue Trading.

The Matching Engine is going to give you more control over the price you want to Buy and Sell Shares. Rather than accepting the prices displayed on the platform, you can set a maximum limit on how much you want to purchase a Share for (Bid).

Let’s say you want to Buy 100 Shares in Odion Ighalo. Each share is priced at £1.85 - but you think you can get him for a lower price. Bids are powered by other Traders’ Instant Sells, and Igahlo’s last performance wasn’t strong, so you’re predicting a slight sell-off.

Rather than Buying 100 Ighalo Shares at £1.85, you place a Bid on 100 Shares at £1.70. The funds, plus commission, are taken from your balance straight away.

Other Traders Instant Sell enough Shares at your Bid’s value. Your Bid is successful and 100 Ighalo Shares are dropped into your Portfolio for £170.

Some of your Bid was Matched with other Traders’ Instant Sells, and you got a portion of the Shares. Let’s say 50 Shares of your Bid were Matched - you’d receive 50 Ighalo Shares. The remainder of your Bid will stay active until it’s Matched or it's Cancelled.

Your Bid isn’t Matched, and no Shares are purchased. Your Bid remains Unmatched until it’s Cancelled, and we’ll refund you in full (including commission) immediately on Cancellation. Bids don’t expire, so they’ll need to be Cancelled actively.


Note: You’ll be able to place a maximum of 10 Bids per footballer at any one time. Each Bid can be up to 300 Shares.

You’ll still be able to Buy footballers at market value with Buy Now, the Matching Engine is an additional way to Buy on Football Index. The Sell Queue will remain the same until future Matching Engine releases. 


That’s the Matching Engine - more control over how you Buy and Sell footballers on Football Index.

#FIMatchingEngine

Place a Bid

Place a Bid on a footballer and you’ll be in with the chance at getting them for a lower price. Bids are only Matched when another Trader Instant Sells the footballer you’re after.

Buy Now

Buy a footballer at their Market Buy Price - the value you can see in the blue Buy button.

Sell Queue

Add your footballer to the Sell Queue and you’ll be selling to other Traders at the Market Buy Price or a specified reserve price.

Instant Sell

You’ll be selling at a value similar to the price seen in the red Sell button. As long as there are Bids on your footballer, there’ll be an Instant Sell option.

As many of our Traders know, Football Index is currently working with NASDAQ to implement Order Books into the platform. Order Books will introduce a fully-fledged matching functionality that allows Traders to Buy and Sell Shares in a way that gives you more control over how you bet on Football Index.

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You’ll be charged a 2% commission on Bids. However, until 23:59:59 BST July 31st, 2020, Bids will be completely commission-free - so try out the Matching Engine soon! You won’t be charged commission when you use the standard ‘Buy’ option

For a Bid to be successful - it needs to be Matched. Bids are only Matched when other Traders make an Instant Sell.

The price you'll see in the red Sell button on the Index (the Instant Sell price) is an average of max 300 Shares that come from the highest Bids. When a Trader Instant Sells Shares, the highest Bids for those Shares are Matched.

Bids are Matched based on price (highest Bid first). If multiple Bids are the same price, then by time (First In First Out).
 
As the Instant Sell price is an average of max 300 Shares, selling any fewer than 300 Shares might result in a higher Instant Sell price. This is because the highest Bid may be higher than the average price, and Instant Sells always go to the highest Bid first.

There are now three possible outcomes:

Each footballer will have a minimum price for which you can place a Bid. This will vary for each footballer, and will initially be around 60% of the Buy Now price. There will also be a maximum price for the Bid which is one penny below the Buy Now price at the time of placing the Bid. The price range that you can place a Bid on is known as the Bid Zone. You won’t be able to place Bids outside the Bid Zone.

Watch Video

Here's some additional information on how you can place your bets using the Matching Engine.