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| | {{CaptionedImage|file=The Imperial Bourse.jpg|align=left|width=600|caption=The Bourse ensures the prosperity of the Empire.}} |
| ==Overview== | | ==Overview== |
| The Imperial Bourse is the economic hub of the Empire. Its role is to ensure the prosperity of the Empire and to provide access to much needed resources to those who can afford them. | | The Imperial Bourse is the economic hub of the Empire. Its role is to ensure the prosperity of the Empire and to provide access to much needed resources to those who can afford them. |
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| ==Role within the Empire== | | ==Role within the Empire== |
| The Bourse is designed to ensure that Ilium, mithril, weirwood and white granite are directed to where they can provide the most economic benefit, rather than being assigned by political or military patronage. Merchants bid for a position on the Bourse and those that are successful gain control of one of the Bourse positions that control production. It is then left to them to sell the resources at whatever price they can. Although there are frequent accusations of profiteering, when the market functions as intended it ensures that significant sums of money are paid to the Bourse for use by the Empire. | | The Bourse is intended to raise money for the Imperial treasury and ensure that [[ilium]], [[mithril]], [[weirwood]] and [[white granite]] are directed to where they can provide the most economic benefit, rather than being assigned by political or military patronage. |
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| Decisions within the Bourse are taken by auction, with members placing money in the Bourse coffers to register their support for or against a motion. Such auctions are rare however, most of the Bourse activity is economic in nature and takes place without central organisation. The money collected by the Bourse, as part of the process of selecting members and making decisions becomes the property of the Empire.
| | Merchants bid for Imperial positions on the Bourse and those that are successful gain control of one of the Bourse positions and the production that comes with it. It is then left to them to sell these resources at whatever price they can. Although there are frequent accusations of profiteering, when the market functions as intended it ensures that significant sums of money are paid through the Bourse into the Imperial treasury for use by the Empire. |
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| The Bourse has gained two other roles over the years, operating the public and private auctions. The public auction is open to anyone present; most goods sold are herbs, mana crystals, resources, building materials and occasionally even Ilium are sent to the Bourse by Imperial citizens who want a good price for their goods but have neither the inclination nor the time to attend the meetings at Anvil. The private auction is for Bourse members only and sells rare and unique items that agents of the Bourse have sourced from across the Empire and the World.
| | In addition to the auction of Imperial Bourse positions there are a number of national positions which are voted on by key members of each nation. The expectation is that the citizens that are elected to control these bourse positions will use the resources they generate for the benefit of their nation. |
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| ==Entry requirements==
| | The Bourse often attracts a great deal of opprobrium, some aimed at the alleged greed of title holders, some at the perceived dysfunction of the arrangements. Despite this, or perhaps because of it, the Bourse is constitutionally protected from interference by the Imperial Synod. |
| There are over a score of different Bourse positions, the majority of which are auctioned off once a year. It costs one crown to register a bid for a Bourse position. Although one individual can bid for as many positions as they choose if they pay a crown fee for each bid, an individual can only win one auction. Bids are sealed and then handed to the civil service who announce the winners. A successful individual has four hours to pay the full value of his bid or else default, in which case a position is awarded to the next highest bid.
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| There are a handful of Bourse positions created at the formation of the Empire which are not auctioned off. These positions were created to reflect the relative economic wealth and priorities of nations like Varushka. As a result these resources are controlled by vote of members of that nation based on what resources they control. These positions are identified separately below.
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| You can find details of who holds which seat [[Titles_by_event|here]].
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| ==Elections and Appointments==
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| During each season, all the Bourse Seats (both Imperial and National) that produce a single material are re-elected or re-appointed. During the event that a seat is due to be re-elected, the current holder does not receive any materials. Once the seat has been re-elected, the new holder receives that season's production, and secures the production until the next time the seat is due to be re-elected.
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| * Weirwood seats are re-elected at the Winter Solstice.
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| * [[Materials#Ilium|Ilium]] seats and the [[Imperial Bourse#Master of the Imperial Mint]] are re-elected at the Spring Equinox.
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| * White Granite seats are re-elected at the Summer Solstice.
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| * Mithril seats are re-elected at the Autumn Equinox.
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| ===Proxies===
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| Any member of the Bourse, may appoint a [[proxy]]. It is not uncommon for Bourse members to auction the right to stand as their proxy to another party - as this allows the proxy to bid in the private auction.
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| ==History== | | ==History== |
| Mithril, weirwood and white granite are essential to the prosperity of the Empire and its citizens. Deposits of these materials tend to be large but few in number so they are carefully protected. Ilium is also rare and almost priceless due to its arcane powers. When the Empire was formed control of key supplies of these materials was placed in the control of the Bourse; it was explicitly designed to keep control of these precious materials out of the direct control of the Empress and the Senate.
| | The Bourse was founded by [[Emperor Giovanni]] after the Empire was formed, as part of a sequence of crucial economic reforms that included the introduction of a single Imperial currency. |
| | | Mithril, weirwood, white granite and ilium are essential to the prosperity of the Empire and its citizens, but significant deposits of these materials are rare and jealously guarded. Giovanni's reforms intention put control of these resources in the hands of merchants and traders, rather than politicians or generals. In this way he hoped to maximise the benefits for the Empire, by providing large sums of money for the Imperial treasury and ensuring that resources went to the highest bidder. |
| Over time the role of the Bourse has grown, its members instituted a private auction to give them access to some of the most valuable items in the Empire. This was so successful it was eventually copied and a second public auction was introduced to allow citizens of the Empire to sell basic goods at the Bourse.
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| ==Powers and functions==
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| ===Control of Ilium and Building Materials===
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| Mithril, weirwood and white granite are essential to upgrade a personal resource to make it more productive. They are also needed for the large projects authorized by the Senate such as the creation of new armies or the building of bridges and fortifications. Ilium is used by artisans and magicians to make rituals and enchantments permanent. Each Bourse member has control of a single resource, for a single year (unless they are replacing an existing position which has become vacant). They can dispense this resource as they choose.
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| ===Access to the Private Auction===
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| The Bourse holds a single private auction, only Bourse members can attend and bid on the items auctioned. Bourse agents scour the Empire and the world looking for rare and potentially valuable items to bring them to the Bourse where they are auctioned off to the highest bidder. Details of the handful of lots are usually posted in the Bourse several hours before the auction begins.
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| ===Operation of the Public Auction===
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| Although not formally one of the powers of the Bourse, the public auction takes place in the Bourse and is operated by the civil servants who run the Bourse. The auction is open to all and supplies of herbs, mana crystals, resources, minor magical items and small lots of weirwood, mithril and white granite are auctioned to the highest bidder. It is relatively rare, but not unknown for more valuable items like Ilium, true liao or powerful items to appear in the public auction. Details of the lots are posted in the Bourse one hour before the auction begins.
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| ===Auction of Appointments===
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| Over the years the Bourse has helped to create various minor Imperial positions and officers to help the Empire function. Individuals are appointed to these positions by auction - Bourse members commit funds in support of their preferred candidate. The candidate that receives the most support is appointed - and all bids by their supporters become the property of the state. Please note that there are no political appointments due to be made by the Bourse at the first event.
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| ==Imperial Bourse Positions==
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| There are sixteen Bourse positions that are assigned to the highest sealed bid. These positions are available to any citizen of the Empire who does not already control an Imperial title or position. This means that members of the Synod, military or senate can bid for one of these Imperial Bourse position, but must resign their position if they are successful.
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| ===Mithril===
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| All mithril seats are re-elected during the Autumn Equinox.
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| ====The Singing Caves====
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| The Singing Caves are found near Overton, on the battleline to defend the Mourne from barbarians. Still in Imperial hands, albeit only just, the Singing Caves take their name from the strange voices that echo forth when the wind blows above.
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| This Bourse position produces 28 [[Imperial wain|Imperial wains]] of mithril every season.
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| ====The Fortress of Salt====
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| In the mountains north of Temeschwar is the famous Fortress of Salt. The fortress guards the entrance to one of the richest deposits of white granite in the Empire, and is massively fortified as a result. The mine workings also produce large amounts of salt and most of the walls are covered in a fine layer of white powder.
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| This Bourse position produces 25 Imperial wains of mithril every season.
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| ====The Brilliant Star====
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| Near Delving in Redoubt in Urizen is the location of the Brilliant Star, allegedly the most beautiful of all the star shaped tunnel complexes that undermine the mountains, the walls of the Brilliant Star gleam slightly even when no torch is lit.
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| This Bourse position produces 24 Imperial wains of mithril every season.
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| ====The Great Mine of Briante====
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| At the heart of this mining settlement is the great mine of Briante, the deepest mine in the Empire, it has been dug deeper and deeper over the centuries to excavate the precious mithril that is found deep underground.
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| This Bourse position produces 22 Imperial wains of mithril every season.
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| ====The Great Pits of Ennerlund====
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| Holberg was rightly famous for its impressive engineering works and few are more impressive than the Great Pits of Ennerlund, with their complex mine workings and mechanized pumps. The pits were lost when Holberg was overrun.
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| Under Imperial control this Bourse position produces 27 Imperial wains of mithril every season.
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| ===Weirwood===
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| All weirwood seats are re-elected during the Winter Solstice.
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| ====The Golden Trees of Seren====
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| In the heart of the Miaran are the ruins of Seren, destroyed a millenia ago by the Vallorn and slowly being reclaimed. The area is still dangerous, but the Vallorn growth here left large copses of weirwood trees dotted through the surrounding forest.
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| This Bourse position produces 28 Imperial wains of weirwood every season.
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| ====The Hunt of Alderei the Fair====
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| Aldereri the Fair was defeated by Imperial forces at the dawn of the Empire in pitched battle in Volodmartz. The battle site was a vital strategic asset, as the largest source of weirwood in Varushka. The site is named for the treasure seekers who combed the surrounding woods looking for traces of Alderei the Fair in the decades after his defeat.
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| This Bourse position produces 26 Imperial wains of weirwood every season.
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| ====The Heartwood of the Great Vale====
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| The Great Vale in Hercynia contains large areas of precious weirwood. Although the area is threatened by Thule barbarians, the Empire has maintained control of the Heartwood, albeit barely.
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| This Bourse position produces 25 Imperial wains of weirwood every season.
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| ====The Weirwater Vales====
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| Weirwood is named for the forests that dot this landscape and the rich supplies of weirwood they produce. Legend claims that the first weavers made a pact with the Eternals to make the land fertile, but that the magic has slowly dwindled with time.
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| This Bourse position produces 23 Imperial wains of weirwood every season.
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| ====The Canterspire Circle====
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| The lower slopes of Canterspire are marked by strange circles of weirwood that grow rapidly despite the barren soil. It is clear that some magic is responsible for their ruddy health, but no ritual has ever been devised that can repeat this phenomena which certainly predates the arrival of the Urizen.
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| This Bourse position produces 22 Imperial wains of weirwood every season.
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| ====The Great Forest at Reikos====
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| On the borders of Reikos, the great forest is an abundant source of valuable timber including precious weirwood. It was lost when the territory was over-run by barbarians and is not currently being auctioned.
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| Under Imperial control this Bourse position would produce 25 Imperial wains of weirwood every season.
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| ===White Granite===
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| All White Granite seats are re-elected during the Summer Solstice.
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| ====The Damation Cliffs====
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| The Cliffs are located near Damata in Kahraman and are well protected with a sequence of fortifications to guard the approach. Damation granite is flecked with silver marks although these are purely cosmetic and do not lessen its value.
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| This Bourse position produces 27 Imperial wains of white granite every season.
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| ====The Night Quarry====
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| The Night Quarry is located near the Painted Caves in Miekarova. White Granite is produced here using a technique that fills the air with a fine white dust that quickly settles on the skin. As a result the workers have a ghostly pale complexion until they wash, giving the site an unwholesome reputation.
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| This Bourse position produces 26 Imperial wains of white granite every season.
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| ====The Arratan Gamble====
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| It is claimed that on a clear day you can see the Arratan Gamble from the tallest spires of Tassato. This massive white granite quarry has a bad reputation, and many who have paid to control it have ended up ruined as a result.
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| This Bourse position produces 25 Imperial wains of white granite every season.
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| ====Sutton Stone Quarries====
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| These hardworked quarries near the Old Pig in Upwold have long produced an unusally hard and well wearing creamy Limestone that has become so famed as superb quality building stone that the name of the Quarry itself has become eponymous for all other caches of Sutton Stone that have been found.
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| This Bourse position produces 23 Imperial wains of stone every season.
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| ====The Brilliant Shore====
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| Until recently large amounts of white granite were quarried from this cliff face near Gildenheim. When the sun reflects on the workings on the cliff face the reflection is blinding and gives the quarry its name. The Brilliant Shore was one of the first areas seized by the Thule when Skarsind fell.
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| Under Imperial control this Bourse position produces 26 Imperial wains of white granite every season.
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| ===Ilium===
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| All Ilium seats are re-elected during the Spring Equinox.
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| ====Syrene's Wisdom====
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| In the silver mines above Syrene there are sometimes found brilliant blue seams, no more than a few inches long, that dull chisels upon the first strike. Although these seams are small and difficult to work they yield a constant supply of Ilium.
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| This Bourse position produces 7 rings of Ilium every season.
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| ====The Scorrero Nets====
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| A wise Hakima learnt by chance many years ago that the Scorrero carries ilium in its waters, washed from the land and carried towards the sea. Now nets are placed in the water at key points to sieve out the precious material before it can be lost forever.
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| This Bourse position produces 5 rings of Ilium every season.
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| ==National Bourse Positions==
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| These appointments are Bourse positions, but they can only be filled by a citizen of the appropriate nation. In addition they are not auctioned off, as Imperial Bourse positions are, but voted upon by resource owners from that nation. The larger the personal holding an individual has, the more votes they can allocate in support to a candidate. The voting for national Bourse positions is handled by the civil servants in the Bourse.
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| National Bourse positions are otherwise identical to Imperial Bourse positions.
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| ====The Master of The Imperial Mint====
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| The Imperial Mint is based in Tassato and is responsible for producing all Imperial coinage and protecting it against forgers. The position of master of the mint comes with an opulent apartment in Tassato overlooking the river as well as a position on the Bourse. By tradition the Master of The Imperial Mint is able to address the Senate at his own behest or on the instruction of the Bourse.
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| The Master of the Imperial Mint is re-selected at the Spring Equinox each year.
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| This Bourse position is reserved for a citizen of The League who presents the largest bid. The payment is used to pay for the expenses incurred in running the mint. It does not produce any material wealth, but many a skilful occupant has found ways to turn a cheap seat on the Bourse to a profit.
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| ===Mithril===
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| All Mithril seats are re-selected during the Autumn Equinox.
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| ====The Eternal Shafts of Time====
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| In the mountains near Vorota in Karov are the Eternal Shafts of Time. These ancient shafts were old long before the Empire was born and the size and shape suggests that those who once worked them were not human. Time seems to run strangely in the shafts, workers claim some days simply run longer than others and the output of the mines supports their claims.
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| Control of the Shafts is assigned to whichever Varushkan candidate receives the most support from Varushkan owners of mine resources.
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| This Bourse position produces 27 Imperial wains of mithril every season.
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| ====The Legacy====
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| This vast mine complex is one of the few places in Spiral that remain under Imperial control. It is mostly played out today, but still manages to produced significant quantities of mithril for whoever controls it. According to legend the site was part of a great gift to the Urizen people but the details are lost to time.
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| Control of the Legacy is assigned to whichever Urizen candidate receives the most support from Urizen owners of mana sites.
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| This Bourse position produces 22 Imperial wains of mithril every season.
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| ===Weirwood===
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| ====The Thimble====
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| The Thimble is a vast stretch of forest that covers a series of hills allegedly laid out in the pattern of a tailor's thimble. The Thimble was one of the earliest areas of Therunin to be cleared of Vallorn influence and it now provides an impressive supply of valuable weirwood for the Navarr use.
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| Control of the Thimble is assigned to whichever Navarr candidate receives the most support from Navarr owners of herb gardens.
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| This Bourse position produces 24 Imperial wains of weirwood every season.
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| ===White Granite===
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| ====The Granites of Veltsgorsk====
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| Deep in the mountains of Volodmartz and every bit as dangerous as Ruin lie the open mines of Veltsgorsk. The white granite that comes from these mines is sometimes streaked with pink quartz - storytellers claim it is steeped in the blood of all those who have died fighting over Volodmartz in the past, and will help give life to nearby vegetation as a result.
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| Control of Veltsgorsk is assigned to whichever Varushkan candidate receives the most support from Varushkan owners of forest resources.
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| This Bourse position produces 26 Imperial wains of white granite every season.
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| ====The Vigilant Swan====
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| This quarry complex only remains in Imperial hands due to the efforts of the brave Highborn defenders at Tabernacle. The site is guarded by a flock of white and black swans who nest on the washing ponds below the quarries workings, it is claimed they cry out when intruders come near.
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| Control of the Vigilant Swan is assigned to whichever Highborn candidate receives the most support from Highborn owners of congregations.
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| This Bourse position produces 25 Imperial wains of white granite every season.
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| ===Ilium===
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| ====The Steel Fist====
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| In recent years Imperial Orc forces have swelled the ranks of the Imperial armies, tipping the scales against the barbarian threat. The previous Empress Britta enjoyed particularly strong support from the Orcs and in return she helped create the position of the Steel Fist. | |
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| To reward the Imperial Orcs for the work undertaken in supporting the Imperial armies, the Bourse allocates the Steel Fist to whichever legion provides the most assistance to Imperial armies on campaign. Small legions combine their efforts so that they can be counted together to compete for this great prize which is awarded every Spring Equinox.
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| This Bourse position produces 8 rings of Ilium every season.
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| ====The Broken Shore Bounty====
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| The Grendel represent a powerful threat to the Empire and only constant raids by Imperial vessels against the halls and vessels of the Broken Shore serve to prevent them invading the Empire.
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| To reward the Freeborn for the risks they take, the Bourse allocates the Broken Shore Bounty to whichever fleet performs the biggest raid. Small fleets combine their efforts so that they can be counted together to compete for this great prize which is awarded every Spring Equinox.
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| This Bourse position produces 7 rings of Ilium every season.
| | Giovanni was emphatic that if the Bourse was to provide for the Empire then it would need cast-iron protection from "goodly-hearted priests and high-minded politicians". Thus it was explicitly designed to keep control of these precious materials out of the direct control of both the Throne and the Senate as well as ensuring that members of the Bourse could not be revoked by the Synod. |
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| ====The Stonefield Ice Caves====
| | Over time the role of the Bourse has grown, its members instituted a private auction to give them access to some of the most valuable items in the Empire. This was so successful it was eventually copied and a second public auction was introduced to allow citizens of the Empire to sell basic goods at the Bourse. The private auction has suffered in recent years for [[Death of a salesman|various reasons]] and lapsed towards the end of 380YE. |
| Large deposits of Ilium are buried in this massive glacier, but the ice is every bit as hard to work as stone and the precious metal must be picked from the walls of the frozen tunnels.
| | {{CaptionedImage|file=ArtOfTheDeal.jpg|align=left|width=450|title=Lorenzo La Volpe, Master of the Butchers Bank, Founder of the League Trading Company, and Bourseholder of the Fortress of Salt Mithril mines, concludes a deal with Richard Tunstall, Imperial Master of Works, to improve the fortifications of the Empire.|caption=Resources are available to those who can afford them.}} |
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| To reward the Winterfolk for the risks they take, the Bourse allocates the control of the Stonefield Ice Caves to whichever military unit performs the biggest raid. Halls often combine their efforts so that they can be counted together to compete for this great prize which is awarded every Spring Equinox.
| | ==Sessions== |
| | Of the five houses of Imperial government, the Bourse is unique in that it has no means to vote on matters. Because of this there are no formal sessions where members meet to discuss business. According to the historical records, this is absolutely by design - Emperor Giovanni was adamant that it was not in the interests of the Empire that members of the Bourse should meet and settle arrangements between them. The Bourse is intended to pit members against each other for the benefit of the Empire, not to encourage cooperation. |
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| This Bourse position produces 5 rings of Ilium every season.
| | Despite this there have been informal meetings of Bourse seat holders have been arranged at different periods during the Empire's history. Some of these meetings have been one-off affairs to address specific issues, at other times members have arranged regular meetings to hold votes or issue announcements. However these periods of cooperation have rarely lasted long, usually only as long as the interests members have aligned. |
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| ====The Regario Dossier==== | | ==Participation== |
| League diplomats are active all over the world, making contacts with foreign powers and attempting to sway them to the Empire's side. Such activities require considerable funds but the gains for the Empire are difficult to overstate. If too many foreign powers were to ally with the barbarians, the fate of the Empire would surely be lost.
| | Although there are no formal sessions of the Imperial Bourse - the Auction of the Seats is run by the Bourse at each summit. During the auction, all vacant Imperial Bourse titles are sold to the highest bidder by an [[Agent of the Bourse]], usually the Imperial Auctioneer. The Auction is [[event schedule|scheduled]] for Saturday afternoon, and usually begins at 2pm in the Senate building. Titles are settled using [https://en.wikipedia.org/wiki/Auction#Price_development_by_bidders_only|an open ascending price auction]. Any Imperial citizen with the money to invest is able to participate in the auction, but the winner must pay the winning bid immediately when the auction concludes, otherwise the title is offered to the next highest bidder. The winning bidder does not need to take the title themselves, it is acceptable for a citizen to employ a proxy to bid on their behalf. |
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| This Bourse position is reserved for a citizen of The League who presents the largest bid. The payment is used to pay for bribes and other diplomatic arrangements.
| | In addition to the Auction of the Seats, citizens who own appropriate resources are entitled to vote for any national Bourse positions that are vacant at that summit. Voting opens on Saturday morning of the summit and concludes shortly after the public auction is complete. |
| | <!-- |
| | Although not formally one of the powers of the Bourse, the [[public auction]] is operated by an [[Agent of the Bourse]]. The auction is open to all and supplies of herbs, mana crystals, resources, minor magical items and small lots of weirwood, mithril and white granite are auctioned to the highest bidder. It is relatively rare, but not unknown for more valuable items like Ilium, true liao or powerful items to appear in the public auction. Details of the lots are posted in the Bourse one hour before the auction begins. --> |
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| This Bourse position produces 4 rings of Ilium every season.
| | {{Bourse Further Reading}} |
The Bourse ensures the prosperity of the Empire.
Overview
The Imperial Bourse is the economic hub of the Empire. Its role is to ensure the prosperity of the Empire and to provide access to much needed resources to those who can afford them.
Role within the Empire
The Bourse is intended to raise money for the Imperial treasury and ensure that ilium, mithril, weirwood and white granite are directed to where they can provide the most economic benefit, rather than being assigned by political or military patronage.
Merchants bid for Imperial positions on the Bourse and those that are successful gain control of one of the Bourse positions and the production that comes with it. It is then left to them to sell these resources at whatever price they can. Although there are frequent accusations of profiteering, when the market functions as intended it ensures that significant sums of money are paid through the Bourse into the Imperial treasury for use by the Empire.
In addition to the auction of Imperial Bourse positions there are a number of national positions which are voted on by key members of each nation. The expectation is that the citizens that are elected to control these bourse positions will use the resources they generate for the benefit of their nation.
The Bourse often attracts a great deal of opprobrium, some aimed at the alleged greed of title holders, some at the perceived dysfunction of the arrangements. Despite this, or perhaps because of it, the Bourse is constitutionally protected from interference by the Imperial Synod.
History
The Bourse was founded by Emperor Giovanni after the Empire was formed, as part of a sequence of crucial economic reforms that included the introduction of a single Imperial currency.
Mithril, weirwood, white granite and ilium are essential to the prosperity of the Empire and its citizens, but significant deposits of these materials are rare and jealously guarded. Giovanni's reforms intention put control of these resources in the hands of merchants and traders, rather than politicians or generals. In this way he hoped to maximise the benefits for the Empire, by providing large sums of money for the Imperial treasury and ensuring that resources went to the highest bidder.
Giovanni was emphatic that if the Bourse was to provide for the Empire then it would need cast-iron protection from "goodly-hearted priests and high-minded politicians". Thus it was explicitly designed to keep control of these precious materials out of the direct control of both the Throne and the Senate as well as ensuring that members of the Bourse could not be revoked by the Synod.
Over time the role of the Bourse has grown, its members instituted a private auction to give them access to some of the most valuable items in the Empire. This was so successful it was eventually copied and a second public auction was introduced to allow citizens of the Empire to sell basic goods at the Bourse. The private auction has suffered in recent years for various reasons and lapsed towards the end of 380YE.
Resources are available to those who can afford them.
Sessions
Of the five houses of Imperial government, the Bourse is unique in that it has no means to vote on matters. Because of this there are no formal sessions where members meet to discuss business. According to the historical records, this is absolutely by design - Emperor Giovanni was adamant that it was not in the interests of the Empire that members of the Bourse should meet and settle arrangements between them. The Bourse is intended to pit members against each other for the benefit of the Empire, not to encourage cooperation.
Despite this there have been informal meetings of Bourse seat holders have been arranged at different periods during the Empire's history. Some of these meetings have been one-off affairs to address specific issues, at other times members have arranged regular meetings to hold votes or issue announcements. However these periods of cooperation have rarely lasted long, usually only as long as the interests members have aligned.
Participation
Although there are no formal sessions of the Imperial Bourse - the Auction of the Seats is run by the Bourse at each summit. During the auction, all vacant Imperial Bourse titles are sold to the highest bidder by an Agent of the Bourse, usually the Imperial Auctioneer. The Auction is scheduled for Saturday afternoon, and usually begins at 2pm in the Senate building. Titles are settled using open ascending price auction. Any Imperial citizen with the money to invest is able to participate in the auction, but the winner must pay the winning bid immediately when the auction concludes, otherwise the title is offered to the next highest bidder. The winning bidder does not need to take the title themselves, it is acceptable for a citizen to employ a proxy to bid on their behalf.
In addition to the Auction of the Seats, citizens who own appropriate resources are entitled to vote for any national Bourse positions that are vacant at that summit. Voting opens on Saturday morning of the summit and concludes shortly after the public auction is complete.
Core Brief
Further Reading
