Exchange circular · please read before melting

About the exchange

Cheddar Trader is a fictional cheese exchange, made for fun. Nothing on it can be bought or sold.

Why cheese

Cheese already behaves like an asset. It ages, it comes from somewhere, it costs money to store and people discuss it at great length. Giving it a ticker symbol took very little effort.

How the market moves

Each price comes from a formula that takes a listing and the time of day. Everyone who opens the floor sees the same quote at the same second, and the charts keep moving without anybody placing an order. Nobody is trading. The order book is decoration. The analyst desks, the headlines and the chief cheese economist are invented.

Trading hours

The floor keeps UTC hours. Pre-market opens at 07:00 for the rind check, the session runs from 08:00 to 20:00, and everyone breaks for fondue between 12:00 and 13:00. The market report is published at the close and kept for thirty sessions.

The fine print

No real money, securities, companies or accounts are involved, and nothing here is financial advice. The tickers belong to cheeses. If one of them spells the same as a stock symbol somewhere, that is a coincidence of spelling.