Last updated on: 16/03/2020
The Market is the focal point for buying and selling player shares in the platform. All players available in FOOTBID are listed within this module, namely the ' All Players' section, and you may either quickly buy or sell one of their shares at best price or place a custom order that will be executed when and if there is a match between yours and other users' intentions [FAQ 4.6 / 4.7].
The sections in the Market enable you to filter players on distinct conditions:
- All Players: displays all players available in FOOTBID;
- Shortlist: displays only the players you have shortlisted [FAQ 4.20];
- For Sale: displays only players whose shares are currently being sold by other users, ordered by the number of open sell orders;
- Hot Deals: displays only players whose shares are currently being bought by other users, ordered by the number of open buy orders.
New players are phased into the platform once they are eligible under the competitions supported by FOOTBID [FAQ 8.3] and only when FOOTBID considers it is time to launch their initial offering.
These offerings are published in advance on the FOOTBID social network pages [FAQ 1.6].
The first release pricing, as well as the pricing for subsequent releases from FOOTBID in the primary market area defined by the FOOTBID team considering several factors [FAQ 4.15].
Existing players are removed from the platform if they are no longer eligible under the competitions supported by FOOTBID [FAQ 8.3]. This may happen in case of a transfer, release as a free agent, end of career or any other situation which inhibits the player or ex-player from competing.
In case of transfer, the players will be removed in a timespan of up to 2 weeks after the closing of a given transfer window (i.e. 31/09 and 31/01). In case of other triggers, the players will be removed in a timespan of up to 2 weeks after the given event is known by FOOTBID.
As part of the removal process, the actual shareholders for whom the player shares will be captures will be duly rewarded. As such, a corresponding deposit based on the latest market prices will be placed on the user's coin balance, corresponding to the maximum between: i) the average transaction price during the month before removal; ii) the latest market price; iii) the current best sell price [FAQ 4.14].
The FOOTBID Marketplace composed by two distinct subMarkets built upon proprietary copyrighted algorithms: primary market: issuing and repurchasing of player shares by the platform itself; secondary market: trading of player shares between the platform's users.
When a player is added to the platform, the FOOTBID team will setup a first issue price linked to his real market value according to external sources which will be used for the first share issued only [FAQ 4.1].
Over time, on the '(1) primary market', and up to the communicated maximum number of shares per player, the FOOTBID platform will be willing to issue an additional share at a price premium. On the other hand, it will also repurchase your shares at a price discount if you cannot sell them in the secondary market [FAQ 4.11].
Complementarily, once a user owns a specific share of a player, he will be able to sell it on the '(2) secondary market' to other users who have placed corresponding buy orders. For instance, if the best buy or sell prices do not suit you, there is the option of placing custom orders [FAQ 4.6 / 4.7] which will be matched against those from the other users [FAQ 4.8].
To guarantee a smooth and linear user experience, these two submarkets are not differentiated in terms of navigation and you will always be served with the principle of best price [FAQ 4.13 / 4.14] - this means that the price presented to you on best buy or sell buttons will always be the best, regardless of the submarket considered.
Player shares may be bought in FOOTBID using two distinct approaches:
(1) Best buy button: by clicking a green button with the legend "Buy @ (best price)", resulting in the immediate purchase of 1 share of the player at the best price displayed [FAQ 4.13].
In some cases, the best buy button may be disabled [FAQ 4.16] or the order may be refused as the best buy price has changed meanwhile (e.g. another transaction of that player's shares occurred between the moment you have loaded the page and pushed the button).
(2) Custom buy order: by pressing the icon, selecting the "BUY" tab and submitting the custom order form after properly filling in the number of shares to buy, at which price and until what deadline (i.e. the order will expire if not completed until that date, at midnight).
Once placed, the FOOTBID matching algorithm [FAQ 4.8] will continuously run and try to find corresponding sell orders from other users. Every time there is a match, and as long as your buy order is still open [FAQ 5.3] and you still have enough funds, a transaction will be automatically executed.
Player shares may be sold in FOOTBID using two distinct approaches:
(1) Best sell button: by clicking a red button with the legend "Sell @ (best price)", resulting in the immediate sale of 1 share of the player at the best price displayed [FAQ 4.14].
In some cases, the best sell button may be disabled [FAQ 4.17] or the order may be refused as the best sell price has changed meanwhile (e.g. another transaction of that player's shares occurred between the moment you have loaded the page and pushed the button).
(2) Custom sell order: by pressing the icon, selecting the "SELL" tab and submitting the custom order form after properly filling in the number of shares to sell (which is limited to the number of shares you own), at which price and until what deadline (i.e. the order will expire if not completed until that date, at midnight).
Once placed, the FOOTBID matching algorithm [FAQ 4.8] will continuously run and try to find corresponding buy orders from other users. Every time there is a match, and as long as your sell order is still open [FAQ 5.3], a transaction will be automatically executed.
The custom orders matching algorithm will run continuously to try to find buy and sell orders for a player's share within compatible pricing. For increased transparency, this process runs only for the secondary submarket [FAQ 4.5] (i.e. between user orders).
Following the best price principle, in the scope of a custom sell order, the first matching buy order to be processed will be the one with the highest price. Conversely, in the scope of a custom buy order, the first matching sell order to be processed will be the one with the lowest price. In both cases, if more than one order with the best price exists, the oldest will be the one considered first.
Also following the best price principle, the price considered for the transaction will be the one from the selling order. For instance, if the best selling order is priced at 700 coins and the best buy offer is priced at 1 000 coins, a transaction will occur for those orders and will be registered at 700 coins.
After the orders are matched and validations ran (e.g. buying user has sufficient funds), a transaction will be generated for each relevant share, changing its ownership, executing the transfer of the respective FOOTBID coins and generating the charging of a transfer fee [FAQ 4.9].
Note that orders will be matched regardless mismatches in quantity. For example, if the buy order is for 3 shares and the sell order only for 2 shares, 2 transactions will occur, the sell order will be closed and the buy order will remain partially open waiting for the last share to be matched.
Transfer fees are fees charged by FOOTBID, whenever a transaction is conducted between users (i.e. in the secondary submarket [FAQ 4.5]), for the exchange services provided. Currently, an unique fee of 5% of the transaction price is charged to the selling user's virtual coin balance.
For instance, you may place your orders through all sections of the Market module, on the ' Market Info' section of your Portfolio and on the individual 'Player Page', where you may analyse additional data about the player sports and market performance.
That will not occur as FOOTBID will always be available to repurchase player shares, even if at a discounted price, if there is no demand from other users in the platform.
This means that you will always be able to sell your shares, even if not making a profit, and generate extra liquidity in FOOTBID coins so that you may adjust your strategy, take advantage of unexpected market opportunities or participate in new fantasy leagues.
The current market price is simply the value at which the latest transaction of a player's share has occurred.
This straight-forward approach to pricing intends to bring transparency to the Market, mostly in an initial stage where material trading volume is not expected. Nonetheless, the calculation of market price may be revised for incremented accuracy and reduced volatility once trading volumes rise significantly.
The best sell price is the highest price of all buying orders currently open for that player's shares, considering both FOOTBID submarkets [FAQ 4.5] (i.e. the price at which the platform would be willing to repurchase a share and the prices of all open buy orders placed by other users).
The initial release of shares is subject to an 'IPO period' of 1 week (after the first day a athlete is available on the FOOTBID marketplace) being the respective player signalled with a next to his photo. During this period, the base price of the player will be fixed, not subject to changes, and a limit of 100 shares will be made available.
After the 'IPO period', additional releases are still available on the primary market until the maximum of 100 shares for the player is reached. These are priced in blocks of 20, with each additional block having a price premium of 20% over the previous.
The base prices are defined by the FOOTBID team considering the real-life market value of the player (e.g. provided by external experts such as Transfermarkt), the market value within the platform of players with similar value and performance and the personal specificities of the player (e.g. age, potential, etc.).
Nonetheless, please note that the rules for new share releasing and pricing may change at FOOTBID's discretion and may differ significantly in the future (e.g. share splits may be necessary to accommodate new users in the future).
The best buy button may often be disabled for several reasons. For instance, if you do not have enough funds to buy a share of a given player, you will be inhibited from doing so.
Another case where the best buy button may be disabled is if there is no supply in FOOTBID marketplace [FAQ 4.5]. This means that no one is currently interested on selling a share of that player, hence no best buy price can be calculated. In these cases, you may place a custom buy order and wait for a matching sell order.
You may check the reason for the inability to use the buy button by reading its tooltip.
The best sell button may often be disabled for several reasons. For instance, if you do not own a share of a specific player, you will naturally be blocked to sell it.
Another cases where the best sell button may be disabled is if you do own shares of that player but they are all already consumed by custom sell orders or selected for leagues.
In the first case, you may go to the Orders module, ' Open' or ' Selling' section, and cancel your order [FAQ 5.5].
In the later case, you may go to the Leagues module, click on the league where your player's shares are being used and remove them through the league ' Team Selection' section, as long as they are not yet blocked for the current gameday [FAQ 6.17].
You may analyse the distribution of your shares through the tooltip on the green counter next to your player's photo and/or by checking the 'Share Distribution' chart on the respective 'Player Page', using the ' Investment Data' tab.
You may check the reason for the inability to use the buy button by reading its tooltip.
If you are using the best buy or sell buttons, you may check the tooltip and know if the best price execution is being supplied by other users or the FOOTBID platform. This information will only be displayed when these buttons are not disable and you may buy [FAQ 4.16] or sell [FAQ 4.17] a share using this option.
The custom orders are, by nature, only matched on the secondary market [FAQ 4.19]. Therefore, by default, you may assume that is the case. Nonetheless, if no supply or demand is provided by other users, FOOTBID may suggest purchasing or selling shares on the secondary market with explicit buttons for it within the custom orders form.
No. Once executed a transactions can never be reversed as the ownership of shares has permanently switched from seller to buyer and the respective funds have already been debited to the buyer and credited to the seller.
Despite the extensive testing to the platform operational issues may occur punctually. As such, if there has been an error that led to an unintended processing of your order please send a detailed report to [email protected].
Yes. To add or remove a player to/from your shortlist, simply click on the icon, available in several pages throughout the platform, next to the player's name.
A grey star means that the player is not listed and a yellow star means that the player is currently listed. You may check your shortlisted players on the ' Shortlist' section under the Market module.
Yes. To further analyse the market performance of a player in FOOTBID you just have to enter in the 'Player Page', by clicking on his name or photo, and use the ' Market Data' tab.
In that view you'll be able to set your time period [FAQ 8.4] and analyse the evolution of the player share value, transaction volume and order prices, spreads, volume and gap between supply and demand.
Yes. You are able to see the open orders placed by other users in several screens, with a highlight to the column 'Value' of the Market related views. This indicator will inform you about the number of shares of a specific player being bought () or sold () by others at any given moment.
You may also use the order charts presented on the ' Market Data' tab of the 'Player Page' in order to understand the evolution of the supply and demand for a player's shares.