NFL IPR changes
We have had a handful of requests over the last couple of years about making wholesale changes to the IPR process but we assume that the changes would not be very popular. Most traders seem to enjoy the IPR auctions as they are, or were. We are making them a bit more restrictive and transparent and our more experienced traders sometimes cringe at that but our newer traders seem to like it.
To show those that are making the suggestions that we are listening and to test whether the existing traders might like it better, even though the ones we polled are quite resistant to the ideas, we have decided to do a test “hybrid” release this year for the NFL and most likely for NBA too. Depending on the response of traders we may ditch the idea completely, we may convert to the new public auctions, or we might stick with the hybrid that we are doing as a test in an effort to please everyone. Please send us your opinions of the current IPR system as well as the new way so that we can get a better feel for how to do things in the future. We have molded almost everything at Jockbrokers to the will of the traders and we will continue to do so whenever possible but without your input we are flying blind. Please do not wait until after we make a change to the new idea before you voice your strong opinions of the potential change.
Here are the specific changes you will see for the 2016 IPRs.
1) The total released in the blind bid IPR auction will be just 20 for each athlete.
2) The maximum that traders can buy are 4. (8 for Market Makers)
3) After all of the IPRs are finished we will have some public auctions using the portfolio auction system. These will be comprised of some of the most popular IPRs based on the number of bidders that participated in the IPR auction. We will release between 5-20 of each athlete that sold for at least $1 in the blind bid auctions using this method. The rest of the float will be held back for later release using this method when the market has enough demand for it.
NOTE: We have to add the feature into the back end of our system to be able to facilitate the use of the portfolio auction in this manner. We have not yet started that process and the coding will take some time. We will announce the start of them in an email to all traders and there will be a detailed blog post about it as well.
Send your ideas and opinions to CSM@jockbrokers.com