Starting at noon SLT on Friday December 1 there's a new currency exchange in town: the Forex comes to Second Life. The main ways that residents convert between real currency and Second Life Linden Dollars has been through the official SL Lindex market and the SLexchange site. The difference with the Forex is that it seems particularly geared toward currency speculators looking to make short term profits off of currency fluctuations between the Linden dollar, and US, Canadian, Australian, Japanese, British and European currencies.
Hit the jump for the complete announcement on the SL events calendar...
The SL event notice reads just like a sales pitch:
Trading begins with a 10:1 margin, with trade between the Linden Dollar and six other major world currencies, being the USD, GBP, AUD, CAD, JPY and EUR. Trading is simple and REAL money can be made quite quickly with our margin trading. For every $1 you trade, we back your investment with $9 to increase your trading effect.
We open December 1, and float shares will be available soon, at LND$10 each with no minimum on float purchases during the 1st month of trading. Become part of the next big thing to hit SL, and ensure you don't miss out on your chance.
Sounds like one of the late night infomercials exhorting you to "Order NOW"! Don't know if this is a legit business or something shadier. At the very least it's just another sign that the SL economy is more than just play money.
In related news, someone went to the trouble to calculate the real world value of Monopoly money.