Suppose you put in an order for $1000 worth of gold on 5 grams margin, and
you want to actually take delivery - How do you take delivery of your
contract at Bamdex?
Ken
----- Original Message -----
From: "Bob" <[EMAIL PROTECTED]>
To: "e-gold Discussion" <[EMAIL PROTECTED]>
Sent: Sunday, July 01, 2001 10:06 PM
Subject: [e-gold-list] Re: IFGETD contract
> [EMAIL PROTECTED] wrote:
> >
> > >JP,
> > >
> > >How often is the price of gold calculated for the IFGETD contract?
> > >Once a day?
> >
> > Bob, sorry if it isn't clear. It's actually THE PRICE OF E-GOLD.
>
> Ah. Yes. I didn't pick up on that distinction. I guess they're
> ready to change the price of e-gold a number of times a day
> if they think necessary. A good proxy for the price of gold.
>
> > It's an USDollar-against-egold contract.
> >
> > (So, Jay could be a cheater by temporarily changing the price to the
> > advantage of his contracts! :) )
> >
> > The price is checked every single time anything is "done" on the
> > system. So, you look at your personal details page, the price is
> > checked at that instant.
> >
> > You close a contract, the price is checked at that instant, you look
> > at the "live stats" page, the price is checked at that instant - and
> > so on.
> >
> > Since there's 2-4 million per day in e-gold transactions (approaching
> > 1% of the level of the NZ Dollar!) it seems a good
> > price-information-source to trade the USD against.
>
> Yes. I think it's a very good source.
>
> This is an excellent trading capability that you've created here,
> JP. It's super!
>
> Bob
>
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