Help Centre

Order Books FAQ's

What is an Order Book?

An order book gives Traders the ability to place Buy Orders and Sell Orders in the marketplace.


What type of Orders can be placed?

Buy Orders 

Buy Now - Buy shares instantly at the market ‘Buy Price’

Bid - Set the price you want to buy shares

Sell Orders

Instant Sell - Sell shares instantly at the market sell price

Offer - Set the price you want to sell Shares (offer your shares at)


How does Buying and Selling at the displayed Market Price work?

Buy Orders placed using the ‘Buy Now’ option will match instantly with the lowest-priced Offers.

Sell Orders placed using the ‘Instant Sell’ option will match instantly with the highest placed Bids.


Will the way purchasing Shares with Buy Now change?

Once you have confirmed the number of Shares you want to purchase, your Buy Now order will instantly match with Sell Orders at the market Buy Price. Shares that are matched instantly are added to your Portfolio.

Because we’re working to honour your requested Buy Now price, you may experience scenarios where you do not get the full requested volume. 

As there are other Traders also placing Buy Orders and cancelling Offers at the same time as you, all Shares in your Buy Now order may not instantly match. 

In the event that your full requested volume is not achieved, you will be immediately refunded for the Shares that do not instantly match and the funds will be returned to your account straight away.


How is the Buy Now price calculated?

The Buy Now price will be calculated using the average price of the lowest 300 Shares available through Offers. This means that Traders buy the cheapest Shares available.


Am I able to see how many shares are being Bid for or Offered for a specific footballer?

Not now, but it is something we are working on.

‘Depth of Market’ will be an invaluable addition to the platform for Traders as It will provide a real-time measure of the supply and demand for every footballer on the platform.

At this point, we’re unable to give you an exact launch date, although we’re aiming to have this delivered in stages after the dissolution of the Sell Queue and the launch of Nasdaq.


What happens to Trackers with the introduction of Football Index Order Books?

With the introduction of Football Index Order Books, the ability to purchase Trackers will be removed from the platform.


What is the mid-price?

The mid-price is the middle price between the market buy price (the Buy Now price) and the market sell price (the Instant Sell price). In isolated cases where there is no market sell price (no Bids), the bottom price of the Bid Zone will be used as a replacement for the market sell price.

Please note the methodology you choose to set the Benchmark Price (whether it is the mid-price or the market buy price) will determine your All-Time Trading P&L calculation as well as the Current, 7 Day and 24 Hour calculations.


Will the new IPO system be introduced with Order Books?

Our Nasdaq-powered matching engine will be launched in the weeks following the dissolution of the Sell Queue. With this launch, we’ll also roll out our new and improved, auction-style IPO process. Traders will be able to place Bids over a set period of time to try and secure Shares in the latest footballers added to the platform.

We have a large roster of exciting new players that we will IPO using our auction-style process before the end of the year. More information on Nasdaq and IPOs will be announced in the coming weeks.


For more information you can read our Offer's FAQs, Bid's FAQs, or Launch Announcement Page