Mike
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112 vote
Sept 16, 2015 16:14:59 GMT
via mobile
Post by Mike on Sept 16, 2015 16:14:59 GMT
122 has a vote update. I have sold my holding after the update, but before I got the e-mail.
I thought this was supposed to be impossible now?
*edit: it was something of an experiment, it doesn't seem -too- serious but I have been exiting WTs anyway so seemed like a good excuse.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 16, 2015 16:19:17 GMT
122 has a vote update. I have sold my holding after the update, but before I got the e-mail. I thought this was supposed to be impossible now? *edit: it was something of an experiment, it doesn't seem -too- serious but I have been exiting WTs anyway so seemed like a good excuse. Hasnt been suspended or flagged as a monitoring event so either AC dont consider it a significant event to warrant that or theyve forgotten to press the button! 
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Mike
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112 vote
Sept 16, 2015 16:20:17 GMT
via mobile
Post by Mike on Sept 16, 2015 16:20:17 GMT
Ah. I thought I read somewhere that during lender votes trading wouldn't be allowed. I am probably mistaken! My apologies.
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pikestaff
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Post by pikestaff on Sept 16, 2015 16:29:23 GMT
They should be suspended and the email says that it is.
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Mike
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112 vote
Sept 16, 2015 16:32:53 GMT
via mobile
Post by Mike on Sept 16, 2015 16:32:53 GMT
I wonder if the buyer noticed, and if they did (and they complaiend) what AC would do/say. It does seem a little unfair - presumably they would not get the voting email either.
Really this ought to not happen so frequently, this is the second time (at least) I have managed to sell loan parts after notification of a vote has been posted, but before the vote deadline.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 16, 2015 16:35:05 GMT
Ah. I thought I read somewhere that during lender votes trading wouldn't be allowed. I am probably mistaken! My apologies. Nothing to apologise for as youre quite correct and theyve said as much in the update. It is as I suspected answer B a digital failure  Attachments:
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Post by bracknellboy on Sept 16, 2015 16:59:08 GMT
They should be suspended and the email says that it is. Ahh, well, if I was a pedant I would say that the a strict interpretation of the email statement simply means that at some point between now and completion of the vote, trading will be temporarily suspended until conclusion of the vote. It does not say that it has been yet :-) Of course it should have been suspended before the email sent out. Not the first time we have had a disconnect in the credit/loan team on this point, and one which AH promised if I recall to undertake some 'remedial training' on (my words not his). It really can't be that difficult can it to have a short checklist which insists that the suspend button has been pressed before the send button ?
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jonah
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Post by jonah on Sept 16, 2015 17:01:38 GMT
Someone is selling, my GIEA account just bought a piece. 400+ on MLIA now. Sounds like if someone REALLY should learn how suspend a loan BEFORE sending out comms.
As I cannot control GIEA trades this seems somewhat inappropriate.
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Sept 16, 2015 17:16:31 GMT
Umm Presumably, GAA lenders get to vote even though they don't know what they own. That really is a secret ballot. Of course, that assumes that someone has an abacus capable of counting votes to the nearest yocto gazillionth ? Might need a million minions.  |
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Post by crabbyoldgit on Sept 16, 2015 17:45:29 GMT
Not impressed, missed investing in part in todays draw down because only the swept up part of my instant account was used and did not use any of the directly invested portion so i withdrew most of that to put into the available wt to find out later at that time there was a monitoring issue but trading had not been suspended . My first loan to go a very little pear shaped .So lost out on investment, lost 3.75 interest , to invest in troubled loan and lost perfect investment history, a quadruple whammy.Getting a little worried here,Cris is on holiday having to work to keep the ship on an even keel, this fundimentily an IT based company and it starts to feel a one man band in this area .That is not good if he leaves god help us all.
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Post by pepperpot on Sept 16, 2015 17:47:54 GMT
Umm Presumably, GAA lenders get to vote even though they don't know what they own. That really is a secret ballot. Of course, that assumes that someone has an abacus capable of counting votes to the nearest yocto gazillionth ? Might need a million minions. All is forgiven ilmoro, seems like GAA was right after all.  Edit; option B for me
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
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Post by sqh on Sept 16, 2015 18:41:31 GMT
Umm Presumably, GAA lenders get to vote even though they don't know what they own. That really is a secret ballot. Of course, that assumes that someone has an abacus capable of counting votes to the nearest yocto gazillionth ? Might need a million minions. All is forgiven ilmoro, seems like GAA was right after all. Edit; option B for me Arqh, shouldn't have fallen into that trap.
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gnasher
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Post by gnasher on Sept 17, 2015 4:27:25 GMT
*** ....I had a buy order on this one. When I saw the e-mail some hours after it was sent I noted that it said "Please note that the loan will be temporarily suspended whilst the vote is conducted." I now find that the system has emptied my MLIA cash account investing in this now tarnished loan. On checking the loan I see that it is indeed suspended, so  has happened? Is this because there is a bug in the system and it ignored the flag, or the flag was not set until too late? My purchases started 15min after the time stamp on the e-mail and ended when my cash account was emptied about an hour later. Not pleased! Edit : There is no "Trading Suspended" flag against the loan in the listing, but there is a message to that effect when you open up the loan, There is also a second message "Trading in loans which have had a monitoring or credit event is currently not possible regardless of any investment instruction you may have placed. We are working to resolve this as quickly as possible. "
That suggests that there is a system bug, presumably introduced with the recent software update. It will be interesting to see how AC resolve this one.
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am
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Post by am on Sept 17, 2015 6:37:19 GMT
*** ....I had a buy order on this one. When I saw the e-mail some hours after it was sent I noted that it said "Please note that the loan will be temporarily suspended whilst the vote is conducted." I now find that the system has emptied my MLIA cash account investing in this now tarnished loan. On checking the loan I see that it is indeed suspended, so has happened? Is this because there is a bug in the system and it ignored the flag, or the flag was not set until too late? My purchases started 15min after the time stamp on the e-mail and ended when my cash account was emptied about an hour later. Not pleased! Edit : There is no "Trading Suspended" flag against the loan in the listing, but there is a message to that effect when you open up the loan, There is also a second message "Trading in loans which have had a monitoring or credit event is currently not possible regardless of any investment instruction you may have placed. We are working to resolve this as quickly as possible. "
That suggests that there is a system bug, presumably introduced with the recent software update. It will be interesting to see how AC resolve this one. From statements on the pink board I understand that AC attempted to suspend this loan prior to sending out the email, but it didn't take, and it was suspended on the second attempt later.
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arbster
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Post by arbster on Sept 17, 2015 6:42:02 GMT
From statements on the pink board I understand that AC attempted to suspend this loan prior to sending out the email, but it didn't take, and it was suspended on the second attempt later. Hah! "Didn't take" - that well known technical term... AC should certainly suck it up on this one and take any traded parts from the buyers.
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has happened?