The World Stock Exchange resumed trading last week and revived the controversies around its polices

Hope Capital Island – The World Stock Exchange (WSE) has resumed trading after a long hiatus. However the controversies that plagued the exchange continue. A lot has gone on during the seven months during which the WSE has been closed and the reaction has varied from hostility to ambivalence.

In January, the World Stock Exchange announced that they would closed for up to thirty days for a software upgrade. People questioned how a company could close for such a long period for an upgrade. Soon afterwards, Linden Lab announced their banking ban and theories began to emerge that WSE had foreknowledge of the ban, or perhaps was even involved in litigation that may have precipitated the ban.

Rumors and allegations expanded as WSE started to delist companies, especially those whose CEOs had been critical of the exchange. Companies moved to other exchanges and over the following months people lost interest in what has gone on with WSE.

In February, the Second Life Capital Exchange (SLCAPEX) converted the Linden Dollars that people had deposited there to SLWallet shares causing a significant devaluation of investors’ portfolios. The value of the SLWallet has continued to decrease to approximately one seventh of its original value. In March, SLCAPEX disabled their stock data feed driving away more traders.

With the banking ban, many of the founding members of the Investment Education Team became very busy with restructuring their businesses and that team disbanded in May.

The Virtual Stock Exchange (VSTEX) continued operation without significant changes. Their stock price remained stable and they continued to pay dividends. The International Stock Exchange (ISE) has seen stock price volatility but has also seen its share values increase as it continues to pay dividends.

The Ancapistan Capital Exchange (ACE) has continued to grow, although their stock has dropped in price and they have yet to offer any dividends. ACE Chairman, IntLibber Brautigan will be chairing finance track at the Second Life Community Convention which will hopefully help revitalize the moribund finance sector of Second Life.

The return of WSE raises many questions. Will it cause people to pay more attention to the Second Life capital markets? Will it cause old suspicions about WSE to be cast again on the other exchanges?

One trader on the ISE is concerned and has set up a petition asking Luke Connell of WSE to return investors Linden Dollar balances in full and for Linden Lab to freeze all of Mr. Connell’s assets. In addition, a Facebook group has been set up to warn potential investors about WSE.

Other Second Life news sites are not particularly impressed with WSE’s return. Konner McDonnell at Your2ndPlace has made it very clear that he has no interest in keeping tabs on WSE. This sentiment was echoed by Samantha Goldflake, Director of Communication and Public Relations for VSTEX.

“Right now we don't see WSE as a competitor. Their main focus seem to be on the wider Internet. I won't go into the issues that may arise from such an activity, I can only hope the WSE won't cast a bad light on reputable SL exchanges like ours, SL CapEx and ISE.”

Traders reflected similar thoughts. Many remain active on the more reputable exchanges and have expressed no interest in returning to WSE. The WSE shutdown was too long and too poorly handled for many of them.

It is too early to tell what will happen with WSE. Some may want to wait and see. Many couldn’t careless, and some simply want to warn others about the possible dangers.