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Post by chris on Mar 2, 2018 12:22:39 GMT
I noticed that after a steady flow of transactions the day before, on Thursday from 9:30am to 15:30 there were no transactions. But overnight the buy / sell algorithm started up again. Perhaps the buy / sell algorithm was deferred to allow month-end interest processing. I also can't understand why buy orders on the MLIA, when there £s available, takes days. One would have thought there were a bunch of clerks sat behind the AC webpages rather than a computer. This sort of purchase should be instantaneous imo, as (for example) it used to be with FC when you could buy loans manually on the SM - see what's on offer, put in a request, done there and then. That isn't the philosophy of the system. We don't operate a fastest finger first service where lenders need to be on the site at the right time to capture loan units. You set your buy / sell instructions and the market processes them in batches throughout the day. Everyone gets an equally fair shot at loans as they come along. Otherwise MLA investors would always lose out to those investing via the automated accounts as the system's finger will always be faster than yours. At the moment we have several processes rolled into one which takes a while, and due to various legacies the market itself is more complicated and slower than it should be. We've unwrapped some of that over the past few weeks, with a further change today to move accrued interest into a separate process, which will help a bit but it's still monolithic. Worked fine when we had fewer loans and fewer people trying to do things on them but we've hit a buffer scalability wise and it's taking too long to iterate through the loans. Work had already begun on a replacement system but has been delayed due to the ISA launch, PF payouts, diversification algorithm, and a few other bits and pieces. It's part of the big release in roughly 8 - 10 weeks. That will simplify the process to speed it up and also enable lots of copies of the market to be run in parallel so multiple loans can be processed at once. Ideally loans would be processed every couple of hours.
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cb25
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Post by cb25 on Mar 2, 2018 12:30:35 GMT
I also can't understand why buy orders on the MLIA, when there £s available, takes days. One would have thought there were a bunch of clerks sat behind the AC webpages rather than a computer. This sort of purchase should be instantaneous imo, as (for example) it used to be with FC when you could buy loans manually on the SM - see what's on offer, put in a request, done there and then. You set your buy / sell instructions and the market processes them in batches throughout the day. Yet, I place a buy order, the batch(es) run throughout the day, then a day - or two - later, my buy order is still there and so are available £s. I would have hoped that either my buy order was fulfilled or all available £s were allocated elsewhere.
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dc848
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Post by dc848 on Mar 2, 2018 18:18:26 GMT
26/2/18 c1439 ISA MLA launch spotted, swing into action with pre-planned BUY targets.
Launch+2hrs 189 loan instructions placed.
Launch+6hrs 23.53% of capital invested, of which 31 are fully loaded (16.4%), a further 39 partially loaded (20.6%)
Launch+46hrs I feel like King Canute. Interest and principal payments are starting to come in.
Approx 100 hours since launch (its now Friday 1800), I feel like King Kong. The system has allocated 96.45% of capital - and that included down time on Thursday for software fixes. My dosh is spread across 197 loans, of which 106 loans are fully loaded.
Reading these threads, I think Im the only happy customer here.
I have been lucky though, in being prepared in advance, and knowing that the majority of investors would leave their selling/buying to the last minute - which meant my buys would pick up their sells reasonably quickly.
Final comment: Its Friday 23:30 - My MLA is 100% loaded. I didnt get the exact mix I wanted, due to the Chancellors restrictions, but I am extremly pleased with my results.
198 loans, 150 100% fulfilled, 48 partially.
Excellent results, thankyou AC.
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jonah
Member of DD Central
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Post by jonah on Mar 2, 2018 19:33:01 GMT
Not just you happy dc848. I drip fed cash in from a PSA but I’m at slightly over 80% invested in my MLA. So another one in the “happy so far” column. |
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ceejay
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Post by ceejay on Mar 3, 2018 10:27:02 GMT
This is kind of a repeat of a message I posted earlier in this thread, but I got no response and things have got worse - tagging chris for a comment, please. I opened a GBBA2 account after this change was announced and shoved some money in to see how it went. On the whole I'm happy - it took a few days, but the money is now well diversified. Good job. But... I think the shrapnelator is at work here. I thought I'd read that there was a minimum swap size, but that doesn't seem to be the case. I've done no trading of my own at all on this GBBA2 - only the diversifier has been at work. I now have five holdings < £0.01, and five more < £1.00 This might seem harmless but I don't think it is. These tiny loans are adding nothing meaningful to my risk management, but they are significantly increasing the chances that I will be left holding some tiny useless fraction of an unsellable loan which will stop me at some point clearing out this account. Not to mention making it much harder to keep an eye on all of my holdings by cluttering up any spreadsheet I might want to put together. Is there a case for an UNdiversifier - making swaps to get rid of these tiny holdings that add nothing but administrative pain? |
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Post by chris on Mar 3, 2018 10:37:33 GMT
ceejay - there's three processes that could have caused this. The first is loan repayments, which is unlikely in this case. The second is the buying mechanism whereby it's tried to buy into those loans but that was all it could get or all the idle funds you had at the time. The third is the way the diversifier works - there's a minimum transaction size not a minimum holding in a loan. So if you held £1.10 in a loan but the account wide average meant you should have 2p then it could sell £1.08 because that's above the minimum transaction size. There will be more controls over investment accounts coming down the road so it would be easy to liquidate everything, but in the mean time you should be able to set a withdrawal for 1p more than your holdings to make sure you sell out those last fractions. And yes we should create a process for tidying up those last little fractions of loans. It's on my list.
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ceejay
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Post by ceejay on Mar 3, 2018 10:50:06 GMT
ceejay - there's three processes that could have caused this. The first is loan repayments, which is unlikely in this case. The second is the buying mechanism whereby it's tried to buy into those loans but that was all it could get or all the idle funds you had at the time. The third is the way the diversifier works - there's a minimum transaction size not a minimum holding in a loan. So if you held £1.10 in a loan but the account wide average meant you should have 2p then it could sell £1.08 because that's above the minimum transaction size. There will be more controls over investment accounts coming down the road so it would be easy to liquidate everything, but in the mean time you should be able to set a withdrawal for 1p more than your holdings to make sure you sell out those last fractions. And yes we should create a process for tidying up those last little fractions of loans. It's on my list. Thanks for the very quick response, especially on a weekend! I suppose this does suggest another possible rule for the diversifier - don't swap out a part if it would leave a holding less than a threshold (my vote would be for £1, but other values are available!) - although that might be redundant if you ever get far enough down your long to-do list to do the tidying-up process! ETA: I should also point out that being able to ask for a withdrawal 1p more than holdings works fine if all you are doing is closing a healthy portfolio, but I'm pretty sure isn't relevant in the case I was thinking of, which is that a loan (in which I have a tiny holding) has gone bad and can't be sold.
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Post by Harland Kearney on Mar 3, 2018 13:21:10 GMT
I too am very happy with the new accounts and would like to thank AC personally for putting time and effort into this as well as during the period continuing to keep communication with lenders on this site. (It greatly increases my confidence at least) I've started to move more capital into AC and will do as more capital comes available into GBBA2 and PSA. Thank you!  |
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Post by crabbyoldgit on Mar 3, 2018 16:49:47 GMT
In another platform in some problems i hear things were very clever and returns were high and to be honest I was very tempted but to lazy to invest. Just more and more like A.C. do it right keep to the rules ,if in doubt exceed the requirements required by the regulator , be a bit boring just keep churning out the reasonable profitable products to the investors. Yes there will be bad loans but as experience grows proportionally less.
The most important thing here for me is the platform is making money may be not as much as some may wish but one of the very few peer to peer firm e paying its way. When the next down turn comes peer to peer firms needing endless injections of cash to operate are going to be toast.
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Post by Harland Kearney on Mar 6, 2018 13:36:01 GMT
I have invested a lump sum of 11k, and I am now waiting for it to be diversified by the system. Although I assume the diversification algorithm is separate to the purchase of loan parts; during the lump period I picked up one loan part for 1.98k (441) which has made me feel eerily uncomfortable with the loan only 4 months left to run. Will watch and observe and reply back probably next Monday.
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daveb4
Member of DD Central
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Post by daveb4 on Mar 12, 2018 7:01:36 GMT
All going well for me apart from my continued issue with 441. 10% across GBBA 1 & 2 for me and my other half. Just about everything else is around 5/6% or below. Then this morning in one of my larger portfolios over the last 8 hours all my transactions related to 441, sold some, then exchanged to buy some back and then selling some again? 2 Sales £2.30 2 exchanges to buy £13.70 2 Sales £2.60 Just seems a little strange, but i do appreciate the IT is working with everyone's portfolios. I appreciate small amounts but it is the reasons behind it. To be fair the loan itself is not too bad in comparison to some others but is still a large chunk of my overall portfolios. 441 outstanding amount does appear to be reducing so please can Assetz attract at least another £5m onto GBBA2 to start reducing my issues on this loan!  |
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cb25
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Post by cb25 on Mar 12, 2018 9:40:02 GMT
Having sold out of GBBA2 a few weeks back as I was unhappy with the allocation percentages, thought I'd give it another small trial. So, put £500 in yesterday. Today showing 29.2% in #441 !
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archie
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Post by archie on Mar 12, 2018 9:55:30 GMT
Having sold out of GBBA2 a few weeks back as I was unhappy with the allocation percentages, thought I'd give it another small trial. So, put £500 in yesterday. Today showing 29.2% in #441 ! The buying code hasn't been altered yet. See here.
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cb25
Posts: 3,528
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Post by cb25 on Mar 12, 2018 10:03:02 GMT
Having sold out of GBBA2 a few weeks back as I was unhappy with the allocation percentages, thought I'd give it another small trial. So, put £500 in yesterday. Today showing 29.2% in #441 ! The buying code hasn't been altered yet. See here. Thanks for the reminder on that archie, I'd forgotten (oops). One might have hoped that a 7-year old site might have sorted allocation (both buying and re-balancing) literally years ago (about 6 !).
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JamesFrance
Member of DD Central
Port Grimaud 1974
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Post by JamesFrance on Apr 4, 2018 14:13:17 GMT
I just decided to try the GBBA for the first time, not only did it put by far the largest amount into the same loan #441 (with only 3 months to repayment) but having invested the full amount it is now busy selling other smaller loan parts to increase the amount in that one.
This is hardly what I understand to be rebalancing the investment, when it is split by over 100 loans but one has already increased to over 8% of the portfolio and is still rising.
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