Does the CP FAQ need to be updated?

"Once enough people have bid on a price to move the graph over the line, you will have one week to make sure your bid is at or above the winning price"

OT300 just crossed the line, and we have less than three days before it closes this Friday at noon (Pacific time).

If the duration is meant to be less than one week, the FAQ should probably be updated. (Otherwise, the closing date might need to be adjusted.)

Thanks!

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Comments

scooter

Good catch.

And it SB the 1st Fri. in Sept., to be fair.

David Carter

From the Community Pricing FAQ:

"Once enough people have bid on a price to move the graph over the line, you will have one week to make sure your bid is at or above the winning price"

I don't know why the FAQ says this - it has always been the case in the past that the cut-off point is on the Wednesday. In other words if a CP crosses the line on a Wednesday afternoon, you get until the Friday 9 days later to try and drive the price down. Conversely if it crosses the line before Wednesday afternoon you only get until the Friday of that week.

This is why historically we have always tried to ensure a CP crosses the line on a Wednesday afternoon or Thursday.

That being said, if Logos say we have a week, they should give us a week. We should hold them to their own clearly stated terms of business

PetahChristian

https://community.logos.com/discussion/comment/993068#Comment_993068

It looks like FL updated the CP FAQ (by removing details about the "closing soon" duration).

The FAQ now says "Once enough people have bid on a price to move the graph over the line, you will be notified so you can make sure to bid at or above the winning price so you don’t miss out."

Grateful for CP opportunities. Thank you, FL!