rogerbu
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Post by rogerbu on Jan 10, 2018 20:03:14 GMT
ablrate I believe that there is a Bot active on Ablrate's SM. Twice yesterday a sale & IFISA buy was intercepted in the 10 seconds between sell and immediately 4 tick box accepts on the buy. A bot can clearly click the 4 tick boxes quicker than a human can. This has also exposed a defect in the SM programming as not only was my sell/buy intercepted, but my buy went through as well. ie the system sold my offer amount twice. once to my IFISA and once to the Bot. I have sent an email to AR's Customer Services but no response other that an acknowledgement. Aren't Bots against Ablrates' T&Cs?
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jezza
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Post by jezza on Jan 10, 2018 20:55:17 GMT
It is quite a while since I used abl, but can’t you set buy orders?
Assuming you have been taking advantage of selling it into your IFISA at a discount, then if someone had a buy order live at the price you set it would buy it wouldn’t it?
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blender
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Post by blender on Jan 10, 2018 22:21:12 GMT
I don't think buying is automated.
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SteveT
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Post by SteveT on Jan 10, 2018 22:28:44 GMT
ablrate I believe that there is a Bot active on Ablrate's SM. Twice yesterday a sale & IFISA buy was intercepted in the 10 seconds between sell and immediately 4 tick box accepts on the buy. A bot can clearly click the 4 tick boxes quicker than a human can. Out of interest, were your Offers listed at par or at a significant discount? I've moved parts between accounts countless times on Ablrate and never had one "go astray", but then I always transact at par. It strikes me that any bot might be set to scan for Offers at a discount.
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binkle
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Post by binkle on Jan 10, 2018 22:30:36 GMT
It is only automatically baught by someone if you chose to sell it at exactly the same rate someone had an existing offer to buy. I think sometimes people have tried to sell well under any visible offers to buy at discount into IFISA, hoping that they beat others of course, but I had thought that if you u pick an unbid figure somewhere near market value you would usually beat others... But as it is at market it wouldn't be too sad of you lost it as you could buy another?
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binkle
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Post by binkle on Jan 10, 2018 22:31:57 GMT
But... If there was a Bot I would like to have it looked into anyway..
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rogerbu
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Post by rogerbu on Jan 11, 2018 8:48:42 GMT
Apart from the apparent Bot.
More of a worry is that AR's system sold my 'Offer' amount twice each time.
I Decide how much I wish to sell, I don't expect the system to then sell twice as much!
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nw99
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Post by nw99 on Jan 11, 2018 11:22:52 GMT
It’s gives you the confirm button as well so you can confirm the price so no computers doing it
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Post by GSV3MIaC on Jan 11, 2018 13:10:13 GMT
Actually computers can push confirm buttons very nicely, thanks. Actually they don't bother - they just submit the 'end transaction', and bypass all the cr&p of box ticking and confirming. Should not be possible to sell the SAME loan part twice though (except on FC) .. selling twice as much is an option (since ABL splits the sold part off at the point of sale, rather than when you make the offer to sell).
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elliotn
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Post by elliotn on Jan 12, 2018 2:04:40 GMT
ablrate I believe that there is a Bot active on Ablrate's SM. Twice yesterday a sale & IFISA buy was intercepted in the 10 seconds between sell and immediately 4 tick box accepts on the buy. A bot can clearly click the 4 tick boxes quicker than a human can. This has also exposed a defect in the SM programming as not only was my sell/buy intercepted, but my buy went through as well. ie the system sold my offer amount twice. once to my IFISA and once to the Bot. I have sent an email to AR's Customer Services but no response other that an acknowledgement. Aren't Bots against Ablrates' T&Cs? Assuming no tax avoidance - trying to manufacture the transfer of your own taxable loan parts into a tax free wrapper at a discount to the prevailing market rate - then just buy what you want for your ISA on SM (where there are no other loan parts available you will need to set up a Bid).
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garfield
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Post by garfield on Jan 12, 2018 7:04:45 GMT
There would have been quite a bit of buying on the SM yesterday, once the yacht bids had been released. I bought into quite a few loans myself, a little bit extra here and there and in fairly quick succession. Perhaps you chose a busy time? But agree double selling isn't good!
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Post by ablrate on Jan 12, 2018 13:11:34 GMT
We are looking at this and believe we know what caused it, so will be fixing today.
REf 'Bots': We have audit logs on the platform which report anything odd (i.e anything that looks like a bot) and there is nothing to suggest any are operating.
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Post by GSV3MIaC on Jan 12, 2018 19:20:56 GMT
It really should not be possible to place an offer below the current bid rates .. the stuff offered should fill those first (from top down). If that is broken, then trades at "not a market rate" are possible and will attract HMRC attention.
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david42
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Post by david42 on Jan 12, 2018 21:04:33 GMT
I have seen loans on offer at 75% for short periods.
I prefer to keep my transfers within 1% of the market price to avoid provoking a layer of new anti abuse rules that would make life more difficult for all of us.
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