Football INDEX have today followed through with the promise made in October’s IPO announcement to relax the so-called “24hr rule”, sensationally moving the dividend eligibility cut off time to 14:00 GMT with immediate effect.
Traders on the worlds first Football stockmarket were previously only eligible to earn dividends on their purchased shares after holding them on portfolio for 24 hours or more.
In October when the IPO process for Squad Players was announced, Football INDEX revealed their plan to change the cut off time but no further details were released. Now with over 1,000 footballers available to buy and sell the team at Football INDEX believe the time is right to unveil what is expected to be a popular feature with traders.
Commenting on today’s news Adam Cole, Football INDEX Founder & CEO, said “I’m delighted that traders will now be able to buy shares and earn dividends on the same day. This is such a positive move for the platform and great news for traders”
Football INDEX have looked to build on the successful launch of Opta Performance Dividends and the IPO rollout of Squad Players to unleash the huge potential of the platform.
Cole continued “Traders naturally want to act on up to the minute information like match line-ups, and in some instances even trade in-play. Today we are cementing Football INDEX as an essential ingredient of the match day experience.”
The dividend eligibility cut off time changes to 14:00 GMT from Wednesday 6th December.