- World Stock Exchange
Infobox_Company
company_
key_people =Luke Connell
company_type =Stock exchange
foundation =2007
location = flagicon|AustraliaMelbourne ,Australia
slogan = Creating a Society based on Vision and Virtues
industry =Computer and video game industry
genre =Simulation Game ,Computer Role Playing Game
website = [https://www.wselive.com/ https://www.wselive.com] The World Stock Exchange (WSE), is afictional securities exchange andbanking role-playing game developed, owned and operated by Hope Capital Pty. Ltd. ofMelbourne ,Australia . The WSE has been developed usingRuby on Rails . The WSE enables listed companies to raise capital, it then steals the capital, and gain brand awareness by participating in thegame 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 byWIC Exchange that has the potential to be purchased and sold for real US Dollars. The value of the WIC license is determined by anexchange rate set byWIC Exchange , the rate is then applied to the total amount offictional 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$500 million.
The WSE first appeared in the
virtual world ofSecond Life and initially used theLinden Dollar currency inSecond Life . In July 2007, the WSE completed the integration of a newfictional currency independent ofSecond Life called theWorld Internet Currency (WIC, WICS, W$).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 theRuby 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
*cite news| last =| first =| coauthors =| title =Hope Capital launches rival to Metaverse Stock Exchange| work =| pages =| language =| publisher =Reuters| date =
2007-01-12 | url =http://secondlife.reuters.com/stories/2007/01/12/hope-capital-launches-rival-to-metaverse-stock-exchange/| accessdate =2007-10-20
*cite news| last =| first =| coauthors =| title =Rival Second Life stock exchanges merge| work =| pages =| language =| publisher =Reuters| date =2007-02-13 | url =http://secondlife.reuters.com/stories/2007/02/13/rival-second-life-stock-exchanges-merge/| accessdate =2007-10-20
*cite news| last =| first =| coauthors =| title =Hope Capital shares plunge amid Altman sell-off | work =| pages =| language =| publisher =Reuters| date =2007-03-19 | url =http://secondlife.reuters.com/stories/2007/03/19/hope-capital-shares-plunge-amid-altman-sell-off/| accessdate =2007-10-20
*cite news| last =| first =| coauthors =| title =Virtual Stock Exchange Opens in Second Life | work =| pages =| language =| publisher =Wall Street and Technology| date =2007-03-16 | url =http://www.wallstreetandtech.com/blog/archives/2007/03/virtual_stock_e.html| accessdate =2007-10-20
*cite news| last =| first =| coauthors =| title =Another life | work =| pages =| language =| publisher =Australian IT| date =2007-04-03 | url =http://www.australianit.news.com.au/story/0,24897,21477652-16681,00.html| accessdate =2007-10-20
*cite news| last =| first =| coauthors =| title =World Stock Exchange hit by L$3.2 million theft| work =| pages =| language =| publisher =Reuters| date =2007-07-25 | url =http://secondlife.reuters.com/stories/2007/07/25/world-stock-exchange-hit-by-l32-million-theft/| accessdate =2007-10-20
*cite news| last =| first =| coauthors =| title =You Only Live Twice| work =Four Corners| pages =| language =| publisher =ABC| date =July 2007 | url =http://www.abc.net.au/4corners/special_eds/20070319/| accessdate =2007-10-20
*cite news| last =| first =| coauthors =| title =Interview - LukeConnell Vandeverre, World Stock Exchange|work =| pages =| language =| publisher =SLOZ| date =2007-04-20 | url =http://www.sloz.info/2007/04/20/interview-lukeconnell-vandeverre-world-stock-exchange/| accessdate =2007-10-20
*cite news| last =| first =| coauthors =| title =Interview Two - LukeConnell Vandeverre, World Stock Exchange |work =| pages =| language =| publisher =SLOZ| date =2007-08-05 | url =http://www.sloz.info/2007/08/05/interview-two-lukeconnell-vandeverre-world-stock-exchange/| accessdate =2007-10-20
*cite news| last =| first =| coauthors =| title =Betting On Second Life Stock Exchanges |work =| pages =| language =| publisher =Tech Crunch| date =2007-08-20 | url =http://www.techcrunch.com/2007/08/20/betting-on-second-life-stock-exchanges/| accessdate =2007-10-20
*cite news| last =| first =| coauthors =| title =Welcome To The World Stock Exchange (virtual) |work =| pages =| language =| publisher =American Chronicle| date =2007-08-27 | url =http://www.americanchronicle.com/articles/viewArticle.asp?articleID=36212| accessdate =2007-10-20
*cite news| last =| first =| coauthors =| title =Virtual Exchanges Get Real |work =| pages =| language =| publisher =BusinessWeek| date =2007-08-10 | url =http://www.businessweek.com/technology/content/aug2007/tc2007089_873900.htm?chan=technology_technology+index+page_top+stories| accessdate =2007-10-20
*cite news| last=| first=| coauthors =|title =Invitation to the opening of WSE version 2.0|work =| pages =| language =| publisher =SLNewspaper, JamesT Juno| date=2007-03-07 | url=http://bp2.blogger.com/_IK6baWxMgnU/Re6dnELyvAI/AAAAAAAAAWo/wqnUvSOm4lw/s1600-h/wse_invitation.jpg
accessdate =2007-11-16External links
*cite web| last =| first =| authorlink =| coauthors =| title =World Stock Exchange| work =Official website| publisher =| date = October 20| url =https://www.wselive.com| format =| doi =| accessdate =
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