-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 X.EUR 20/11/2014 report Close : 0.00314217 BTC Close imp. EUR/BTC : 318.25 EUR/BTC Open interest : 1076 contracts (-374 since 23/07/2014) -----BEGIN PGP SIGNATURE----- Version: GnuPG v1 iQEcBAEBAgAGBQJUbbaDAAoJEBMojqsBcTQoNKcH/ApPGOGfvXS7ZHAhUMMFmyv3 GAEOt5jMXlBGasBUQHEAaqvlhFVuhPtSfIuMowD8rv/nUKbux8XFLOovWcfTPJxK ldroqQNjN4UPrNT0CcBCm5OOyN/RP5t1X1jnXDywtpTGef+G2NTHrIec8PPSFism 30i29NIyxAB0ToR1Nls9XhNQNCAjrHL4MSljvjTRJ5VrpxgVMQ6XdWzImAw7peTm wXz90kAxRJmgo+iclI+noq0uvxy5YjMwy82YGEhocIFdHLSlXcxfJiCGOWYBLC96 PINM0SjaerKu2vdPguxepbTG/Ib25TNWZK6h68RrYAvu5xMD2OSJeePcSw8KSVw= =g4iz -----END PGP SIGNATURE-----
This month’s positions rollover took almost a week. Having ~75% market availability for a given month is hardly acceptable. I think there’s room for improvement.
The way the whole thing currently works is as follows :
- Each month, on the 15th at 12:00 UTC, all X.EUR asks are killed, and all assets are removed from all accounts, which happens automatically,
- Mircea Popescu sends me a signed list of the assets that belonged to each key,
- MP pushes a variable amount of X.EUR to my key,
- I deliver, if required, and push back X.EUR to the keys that previously owned them
The issue I see here, is that only the first step is automated, creating a fixed deadline at which the trading halts. But there can be no specific point at which it resumes, since the subsequent steps are all manual.
I see three ways to shorten the no-trade time span:
- De-automate the first step,
- Automate the three last steps,
- Make sure all the available parties are around on the 15th at 12:00 UTC
It seems to me that the first option is the most practical one.
Another way migth be to simply never interrupt trading but change the delivery procedure, so that requesting delivery simply implies notifying me and giving me a PUSH receipt.