Saturday, March 26, 2011

Thoughts post 21 March game

During the game we had, 1 MM, 1 Local, 1 local firm with 2 players, four investment banks with 3 each, two hedge funds, one consumer two producers each with two.

1) An evolution that happened naturally was the locals took limit orders from hedge funds which was a good idea and we will allow that going forward. Upto individual locals if they can cope with the requests. One suggestion is to split the Locals into either taking all buy orders or all sell orders, this reduces the opportunity for confusion

2) We have simplified the spreadsheet that supports the settlement. Please send requests to riskpearlwisdom@gmail.com and I will find a way of returning by email

3) This game we closed 180 deals so having a large number of cards was useful, as ever there is about 30% loss due to errors and mis-markings etc

4) We created name cards for everyone and allocated names rather than allowing people to come up with own - so we had MM, L1, L2, IB1, ... , IB4, HF1, HF2, C1, P1, P2

5) one suggestion is to have two consumers and two producers and suggest that they are in competition so even if you lose money, so long as you lose less than the other consumer then its good

6) the opening after each start was done by open outcry which slowed the game down a bit, need a better solution. maybe we collect the limit orders and use that to open the market. Alternatively we return to original approach of all IB forcing to trade on the open

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