Post by ablrateandy on Oct 16, 2015 12:35:21 GMT
We just wanted to flag up an inconsistency in the behaviour of trades on the Ablrate.com secondary market. At the moment, the cash price that you enter (ie 100.00p in the pound or 101.00p in the pound) for amortising loans is incorrectly taking into account the reducing capital between payments. This means that if you leave up a bid for a long period of time, the AER that this bid achieves falls on a daily basis by a fraction of a percent every day. If you leave a bid up for a couple of days, the difference is negligible. If you leave one up for more than five days though, the change can be substantial.
We are currently working on a fix to this that will ensure that AERs remain constant and hope to deploy this in the next couple of weeks once we are happy with it.
In the meantime, there is no need to suspend trading as the displayed AERs on the bid and offers and the amount being paid in the trade ticket are correct. However, we would advise people to check that they are happy before placing bids or offers for a prolonged period. Remember that once you have entered a bid or offerr, your AER is shown next to the price on the system. If you are not happy with that AER then amend your price.
Should you have any questions about the calculations then please feel free to contact us. We will notify people when the fix is in place.
We are currently working on a fix to this that will ensure that AERs remain constant and hope to deploy this in the next couple of weeks once we are happy with it.
In the meantime, there is no need to suspend trading as the displayed AERs on the bid and offers and the amount being paid in the trade ticket are correct. However, we would advise people to check that they are happy before placing bids or offers for a prolonged period. Remember that once you have entered a bid or offerr, your AER is shown next to the price on the system. If you are not happy with that AER then amend your price.
Should you have any questions about the calculations then please feel free to contact us. We will notify people when the fix is in place.