A new selection system...Allocate and Eliminate:
First, all IOIs are accepted only once and under one SS#. Then, at the end of each month and in a 48 hr window, every Etrade account holder that wants to participate in the IPOs for the coming month must submit an intention request/qualification that would make them valid to apply for that month, and give them an access code.
Random selection is used, but once allocated, your eliminated. From there, if all the IPOs go full cycle, and everyone has been allocated in that same one month period, then we start over again and everyone is eligible.
When the new month begins, you must re-apply to qualify and the selection pool starts over again.
Advantages:
mutiple accounts do not create unfairness.
Selection for IOIs will be more specific, since you may not want to waste your chance on a dud, thus decreasing the pool and bettering the odds.
If the selection pool goes full cycle, everyone gets at least 1 IPO a month, if not, your chances are still better for the new month due to the decreased size of the pool due to application/qualification window and fewer accounts eligible because of SS# exclusions.
If you like this idea, paste it to an email and send it to customer service. It will take some software configuring from Etrade, but it can be done and it may save us all a head ache and eliminate the conspiracy theories. |
