Move Aside BSE, Here Come CSE!
Mar. 7th, 2007 06:45 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
mcgillianaireIt had to happen. A booming economy and a group of IIT-educated techies with a religious obsession for cricket. What else would you expect? The real markets may be down but this virtual concept is taking the cricket-mad world by storm.
Ladies & Gentlemen, I present to you the world's first online Virtual Cricket Stock Exchange.
Conceived by Rahul Roushan, Karthik Laxman, Siddharth Murlidharan (all IIM-A) and Mitanshu Garg (IIT-R), the CSE is an online trading game that works on the principles of a regular stockmarket (such as the Bombay Stock Exchange). The game allows registered users to trade virtual shares of real cricketers within a starting budget of Ç 1 million (Ç = CricStock Rupee).
Designed to popularize stock exchanges through cricket, the creators have promised to expand the concept so that real-market parallels such as mutual funds, options and futures will also be introduced into the exchange. They also plan to issue dividends based on individual performance and allow users to earn capital gains by selling shares of high-performing cricketers. (Exciting!)
For now, users can only bid for shares of 150 cricketers through an IPO (Initial Public Offering). Already, Sachin Tendulkar has been oversubscribed more than 31-times, Saurav Ganguly more than 23-times and Rahul Dravid, MS Dhoni & Ricky Ponting more than 14-times. If you also want to join the fun, log on and register immediately because the IPO deadline ends tonight @ 18:30 GMT.
After March 10, users will be able to trade shares with each other and after the World Cup, the secondary market will open. This means the users will determine the share price through the forces of supply, demand and player performance. The lack of an interest rate equivalent is the only glaring omission between the real-market and the simulation but that aside, it's as good as it gets!
To be perfectly honest, I was thinking of the same idea just a few days ago but I couldn't work out the details. Thanks to these guys it doesn't matter anymore!
Jai Hind! Jai Cricket! Jai Economy!
Ladies & Gentlemen, I present to you the world's first online Virtual Cricket Stock Exchange.
Conceived by Rahul Roushan, Karthik Laxman, Siddharth Murlidharan (all IIM-A) and Mitanshu Garg (IIT-R), the CSE is an online trading game that works on the principles of a regular stockmarket (such as the Bombay Stock Exchange). The game allows registered users to trade virtual shares of real cricketers within a starting budget of Ç 1 million (Ç = CricStock Rupee).
Designed to popularize stock exchanges through cricket, the creators have promised to expand the concept so that real-market parallels such as mutual funds, options and futures will also be introduced into the exchange. They also plan to issue dividends based on individual performance and allow users to earn capital gains by selling shares of high-performing cricketers. (Exciting!)
For now, users can only bid for shares of 150 cricketers through an IPO (Initial Public Offering). Already, Sachin Tendulkar has been oversubscribed more than 31-times, Saurav Ganguly more than 23-times and Rahul Dravid, MS Dhoni & Ricky Ponting more than 14-times. If you also want to join the fun, log on and register immediately because the IPO deadline ends tonight @ 18:30 GMT.
After March 10, users will be able to trade shares with each other and after the World Cup, the secondary market will open. This means the users will determine the share price through the forces of supply, demand and player performance. The lack of an interest rate equivalent is the only glaring omission between the real-market and the simulation but that aside, it's as good as it gets!
To be perfectly honest, I was thinking of the same idea just a few days ago but I couldn't work out the details. Thanks to these guys it doesn't matter anymore!
Jai Hind! Jai Cricket! Jai Economy!
