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THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
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Response to Cantor Exchange slow server and price limit posts
Posted by: HSX Support (a.k.a futurefilm) on Oct 26, 13:34 in response to mickpix's post CX Exchange servers *SUCK*
Thanks for your posts. We appreciate your concern and wanted you to know Cantor Exchange is aware of the slow response times on Sunday. These were caused by heavy load testing that was being conducted on the servers. Such testing is critical before we go live. They would not be permitted in our real money trading environment.
If you think you lost practice trading money as a result of this testing, please email us at customerservice@cantorexchange.com and provide the details of how the system response time negatively impacted your trading and the amount you believe you lost as a result. We will review these requests and restore the accounts of anyone who lost money because of these tests.
Regarding price limits, philosophically we don't like price limits. However, because this market may have many novice participants and because it is new, illiquid, and without an underlying cash trading market we needed some artificial constraint to prevent costly errors (and abuses).
10% is too narrow on opening weekends. In fact, until this month the price limit in was 10% for the entire weekend. We've since relaxed that to 10% per calendar day. This means a film can move 35% (with compounding) over it's opening weekend; this covers about 85% of the cases we've seen so far.
The governmental agency we submitted our application to, the CFTC, has tied the minimum short side margin rates that we can charge to at least a 3.5x multiple of the price limit. Therefore, if we raise the price limit amount we may also have to increase short side margins above our 50% opening day target level.
In short, the price limits are a compromise until we develop market depth. If this market gets really good traction and depth, then we can relax both the price limits and reduce the minimum short side margin.
Keep in mind, price limits change at 5pm ET each day, so getting an order in earlier might be an advantage.
Thanks again and good luck with your practice trading!
CX Exchange servers *SUCK* mickpix Oct 25, 14:24
I wouldn't say SUCK, but they are definately really slow. That needs to be fixed when it goes to real money. {nm} vegasrebel Oct 25, 19:30
10% limit is maddening Makese Oct 26, 07:30
Response to Cantor Exchange slow server and price limit posts HSX Support Oct 26, 13:34
thanks, i wasn't as concerned about the price limits as just not being able to execute the trades because the server was timing out {nm} mickpix Oct 26, 19:49
Ahhh...always at least 2 sides to every story...thanks for filling us in... {nm} Flash Oct 27, 08:00
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