EVE-Trade Prepares to Launch Stock Exchange System
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Isaziwa, The Citadel** - Two entrepreneurs from the One Stop Shop alliance are working on a new service which should make trading of corporate shares easier and more accessible to capsuleers.
LadyOfWrath of the One Stop Mining Shop corporation is the founder of the EVE-Trade project. She has been a financial advisor to many large organizations in the past and felt that some of her customers could benefit from a system where corporate stocks can be traded freely: "Pilots are always looking for more ways to make ISK and a real time stock exchange will empower them to do so. Our goal is to allow the mass trade of any [capsuleer] stock in New Eden. This could go so far as to create mutual fund corporations or other entities that will function in this domain. The possibilities are endless."
Roquezir of the Opeibus Vis corporation is an associate of LadyOfWrath and he is responsible for the technical realization of the service. He explains how the process of exchanging shares will function; "EVE-Trade deals in virtual stocks and bonds. Virtual, in this sense, means shares that are typically managed on the Market Discussion forum -- not those managed by [the] existing share trading system. By combining automation, past transactions, and corporate press releases, EVE-Trade goes far beyond the [currently available] share-trading system... our goal is to empower the stock trader to make the best possible decisions."
The creators of the stock exchange hope that they will be able to serve a wide array of investors. "We're initially aiming the stock and bond management activities at the people who you frequently see in the current Market Discussion forum, [but] we've spent a lot of time considering the average stock trader as well" says Roquenzir. LadyOfWrath adds that they... "are looking to entice players with existing IPOs/Bonds or who wish to launch new IPOs/Bonds. We are simply providing them the tools to ease their role as an IPO manager."
According to both spokesmen, it will be impossible for them to offer guarantees to the investors that will use their service. They plan to decrease the risk of scams by offering audits of corporations offering stocks, which can guarantee that the data they provide is genuine and that the corporation maintains a good financial state.
"It is our intention to let EVE-Trade evolve on its own." says LadyOfWrath. "It is always in the buyers best interest to do their research before purchasing anything including stocks. In the event a corporation were to be involved in criminal activity it is the responsibility of both the community and our own analysts to take action. We will not bar trade of the stock, but we do reserve the right to notify the community via our news feeds of what is happening. It is up to the individual on how to act."
GalNet References
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