ICBIT Derivatives Market (USD/BTC futures trading) - LIVE - page 49.

Fireball

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Quote from: Fireball on December 19, 2011, 05:02:05 PM

* Implement check whether the account has enough money to open the futures position
* Check orders validity at all possible stages of trading engine so that under no circumstances an order which has not enough money behind it is going to be executed.

Done, alpha testing is due tomorrow and afterwards I invite you to beta-test the engine.

Fireball

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Activity: 674

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* Variation margin transfer and calculation is done;
* Trades fees are subtracted when the trade happens;
* Maintenance margin is also calculated and reserved from the account;
* Improved balances handling, implemented execution price calculation;
* A whole lot of other improvements and implemented details;

What's essentially missing before real world testing could be done:
* Implement check whether the account has enough money to open the futures position
* Export historical trade data (partly done)

Implementation ETA for the above mentioned points is tomorrow.

N.B. Don't try the trading right now, the engine is turned off for overnight maintenance.

Nefario

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GLBSE Support [email protected]

watching

Fireball

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I updated the web interface screenshot and moved it to the first post, so everyone could see it without scrolling.

As you can notice, it's nearly feature complete right now, with the only exception that variation and maintenance margins are not shown - I'm working on implementing this right now. Also, another remaining part would be to connect the chart to the historical data server so it shows live data.

Trading engine also executes trades now. I would measure performance somewhen, but it should be really fast (which is a core feature - I guess a lot of you are tired with slow orders placement, delays and lockups of other exchanges).

Fireball

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Activity: 674

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Update: I fixed some usability issues in the web trading interface, and most of the effort is now going into the trading engine development (it's easy to do a simple one, but I'm making an advanced, very fast one so it takes a bit more time to test and develop it than I originally estimated).

However, the development process is approaching the beta stage steadily, and I will be putting up more information here and on the informational website.

Also, I was shown drafts of the cross-platform desktop trading application, it really looks promising. I will post a screenshot of it soon.

Fireball

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Activity: 674

Merit: 500

Quote from: ?? on ??

Great idea, and something people in the community have been asking for for quite a while.

Thanks!

Quote from: ?? on ??

It would be nice if you added some sort of contact information to the website, and list some sort of information about who you are. People are understandably reluctant to send money to totally annonymous strangers.

Yes certainly, the system currently is in testing stage and does not accept any real money, so that's why I didn't put any "imprint" yet. The website's frontpage is going to be reworked soon to be more informative and friendly.

finway

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Nice!

Fireball

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Activity: 674

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I need testers, who would test the webinterface. If you are ready, please follow to https://icbit.se and register there to get an account. Then please PM me and I will drop you a link to the web client.

The key is to make this platform really usable by community. That's why I need your input.

Fireball

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I updated screenshot again with the latest improvements. I'm starting to feel more or less satisfied by it, and now moving on to finish other remaining things Wink

Status update will be posted to the first message.

ultima

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Can't wait to test it

Fireball

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Activity: 674

Merit: 500

I updated the screenshot (on the first page of this topic, strange prices in the orderbook are especial) a few minutes ago. It shows the most up to date state of the web trading environment, which is nearly ready.

Only two things to finish before it goes into live testing:
- Implement/test orders cancellation;
- Add "positions" tab showing currently held positions (bitcoins, futures, maintenance margins, etc etc).

Fireball

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Activity: 674

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Quote from: notme on November 18, 2011, 06:46:17 PM

Also, if you need a bankroll to keep things smooth in the beginning you should create an asset on GLBSE. I would buy a few shares just to help get you off the ground.

I like the GLBSE's idea itself (not specifically ICBIT's listing on it, but in general the idea of virtually listed companies is great), and thanks for your wish to support!

But I don't really want to list on GLBSE now.

Fireball

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Activity: 674

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Quote from: notme on November 18, 2011, 06:44:19 PM

Will you have an API?

Absolutely. This is the next important step after launching web client. Algorithmic trading and market making are essential to providing liquidity to the futures market.

notme

legendary

Activity: 1904

Merit: 1002

Also, if you need a bankroll to keep things smooth in the beginning you should create an asset on GLBSE. I would buy a few shares just to help get you off the ground.

notme

legendary

Activity: 1904

Merit: 1002

Will you have an API? I am currently working on a project that could utilize some hedging ability. We've still a few months of development, but if we have any significant Bitcoin volume your site might just help us keep our losses bounded.

Bitbird

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Nice work! Look forward to testing it. Cool

Fireball

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Merit: 500

EDIT: Screenshot is moved to the first post. This post is "intentially left blank" for now.

Fireball

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Activity: 674

Merit: 500

Quote from: ultima on November 12, 2011, 06:43:27 AM

Yes, $100 should be ok. When do you think your platform will be finished?

"Finished" is a very strong word Wink

The platform is supposed to constantly evolve according to demands of traders.
I'm working on it right now, the first thing is the web trading client, it'll be updated as development goes. Something like in a couple of days I'll finish an initial version of the web based client so that we can proceed to testing the trading engine. When the trading engine is tested and performs good enough, real BTC would be hooked up, and we are going to discuss trading API for algorithmic trading and a possibility of a desktop client.

To sum up - I will post URLs here in the nearby time, please stay tuned and testers would really be needed.

ultima

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Yes, $100 should be ok. When do you think your platform will be finished?

Fireball

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Activity: 674

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Quote from: ultima on November 11, 2011, 08:57:54 AM

Maintenance margin requirement will have to be large enough to prevent this. With 10% requrement if the price of the contract changes 10% you have no more money but BTC can can move 10% in a second. Margin requirement will have to be at least 20-30% or you will have margin calls with no bid/ask at the right price at some point.

Yes, that's the idea - when market volatility decreases, maintenance margin would be decreased allowing for bigger positions. When the market volatility increases, then to prevent losses, maintenance margin would be increased.

During initial starting stage of the exchange, certainly maintenance margin would be high enough (obviously there would be not so much liquidity from day one). And that's why I see the requested change from $1000 to $100 contract size a very reasonable one - I'll edit the contract's data accordingly.

Topic: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE - page 49. (Read 97688 times)