Monthly Archives: November 2014

X.EUR November 20th 2014 statement

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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)

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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 :

  1. 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,
  2. Mircea Popescu sends me a signed list of the assets that belonged to each key,
  3. MP pushes a variable amount of X.EUR to my key,
  4. 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.