Misplaced Pages

World Stock Exchange: Difference between revisions

Article snapshot taken from[REDACTED] with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.
Browse history interactively← Previous editNext edit →Content deleted Content addedVisualWikitext
Revision as of 05:01, 24 August 2008 edit203.214.65.115 (talk) Updated halt status← Previous edit Revision as of 12:31, 30 August 2008 edit undoNTRLBIS (talk | contribs)6 editsNo edit summaryNext edit →
Line 1: Line 1:
{{POV}}

{{Infobox_Company {{Infobox_Company
| company_logo = ] | company_logo = ]

Revision as of 12:31, 30 August 2008

The neutrality of this article is disputed. Relevant discussion may be found on the talk page. Please do not remove this message until conditions to do so are met. (Learn how and when to remove this message)
World Stock Exchange
[REDACTED]
Company typeStock exchange
IndustryComputer and video game industry
GenreSimulation Game, Computer Role Playing Game
Founded2007
HeadquartersAustralia Melbourne, Australia
Key peopleLuke Connell
Websitehttps://www.wselive.com

The World Stock Exchange (WSE), is a fictional securities exchange and banking role-playing game developed, owned and operated by Hope Capital Pty. Ltd. of Melbourne, Australia. The WSE has been developed using Ruby on Rails. The WSE enables listed companies to raise capital, it then steals the capital, and gain brand awareness by participating in the game while providing users with an ability to trade securities and earn interest in a simulated gaming environment using the World Internet Currency (WIC) with a license issued by WIC Exchange that has the potential to be purchased and sold for real US Dollars. The value of the WIC license is determined by an exchange rate set by WIC Exchange, the rate is then applied to the total amount of fictional currency assigned to that license at the time of the transaction.

The World Stock Exchange began normal operations on March 7th 2007 and to date has achieved 27,000 user accounts, raised virtual businesses over L$145 million Linden Dollars and total Exchange Turnover exceeded WIC$500 million.

The WSE first appeared in the virtual world of Second Life and initially used the Linden Dollar currency in Second Life. In July 2007, the WSE completed the integration of a new fictional currency independent of Second Life called the World Internet Currency (WIC, WICS, W$).

Halting of operations

The WSE suspended operations in January 4, 2008 until August 3, 2008 under for required updates and the rollout a new platform called WSE 4.0.

Regulation of listed companies

Self-regulation

Initially, the WSE was regulated by listing rules and the WSE Constitution. At the start of 2007, the WSE believed in market self-regulation.

Because of that, the WSE companies listed on the WSE had a relatively high failure rate and most participants were day traders, resulting in very high trading volume and a bubble when virtual stock traders saw their stock decline in value en masse for the first time.

Increased regulation

Because of the failure rate and the desire to operate a more serious market, the WSE's CEO, Luke Connell, decided to tighten the regulation. The WSE introduced guidelines for companies to inform investors and the WSE also heavily edited the - already existing - WSE Constitution, and added a Terms of Service. From June 2007 on, it has also increasingly done at-random and monthly checks on companies to ensure compliance.

The actions taken by the WSE dramatically reduced the failure rate.

Upon resuming its services to users on the 3rd of August 2008, WSE had updated the Listing rules and Terms of Service and replaced the Constitution with detailed Market Rules.

Development of the WSE Platform

Initial platform(WSE 1.0)

The WSE initially used a stock trading system operating within Second Life, but that system was discontinued because of the limits of the Linden Scripting Language(LSL), the scripting language used within Second Life.

Second trading platform: A web-based trading platform(WSE 2.x)

In March 2007, the WSE, in cooperation with an existing stock exchange in SL, the Metaverse Stock Exchange(MSE) - which was merged into the WSE - developed a completely new, primarily web-based trading platform, called WSE 2.0. WSE 2.0 introduced better portfolio management features and more options for listed companies. The developer of WSE 2.0, Second Life Solutions CEO Shaun Altman, a Second Life avatar, has been criticized because of the errors in essential parts of the WSE 2.0 system, which was, like all WSE platforms after WSE 1.0, based on the Ruby on Rails web application framework. Because of WSE 2.0, Hope Capital decided to hire a real-world software developers to develop the WSE applications instead of a Second Life avatar reduce their risk exposure to errors and to increase the quality of the platform. It took a time to remove inefficiencies and bugs of WSE 2.0, but, after the fixing of bugs, WSE 2.0 was regarded as the first stable virtual stock exchange platform to be used by users in the virtual world of Second Life.

Final 2.x

The final WSE Trading Platform, version 2, included automatic charting by using Adobe Systems technology. It is still being used as of the start of December 2007 as the WSE's charting system.

The 3.x family of trading platforms: More security, a new currency

The WSE 3.x trading platform family introduced features developed by a real-world Australian software firm and included security enhancements, a new currency, new data for investors and better market data management.

WSE 3.0

WSE 3.0, which was implemented after a Second Life avatar had stolen L$3.2 million from the WSE. Version 3.0 of the WSE trading platform included 256-bit SSL-encryption, bug fixes and an RSS-powered news feed. The WSE 3.0 platform also introduced a new currency: The World Internet Currency, commonly shortened as the "WIC".

WSE 3.1

WSE 3.1 included better data management features to enable better management of the WSE's financial and regulational operations and bug fixes. This version of the World Stock Exchange platform also included the introduction of financial reports.

WSE 3.2: The current version of the WSE's platform

The third 3.x family member, WSE 3.2, included live TV via the WSE website and additional news feeds on the WSE's homepage at its website. Several bugs were also fixed. The website's layout was also slightly changed.

WSE 4.0: First Phase/Second Phase(Currently implemented into WSE 3.2)

The first phase of WSE 4.0 includes extended data, such as P/E and cash-on-hand data. It also includes an integrated application for analysts. Analysts can post their analysis of listings on the WSE website via this system.

WSE 4.0 was successfully re-launched on the 3rd of August, 2008. A new application on the Facebook Platform was added, opening up the WSE service to a new market within Facebook, similar to operations in Second Life. The main WSE website was also relaunched.

New features include an invitation system where users are paid for successful invites, meaning that the people they invite trade virtual securities on the WSE. Advanced orders, like stop and trailing orders, were also introduced. The Facebook Application includes a ranking system.


References

External links

Category:
World Stock Exchange: Difference between revisions Add topic