709

I bid £100, got £100

I got my full bid, and there seems to be over 160k available on the SM, presumably from the underwriter.

So something seems to have gone wrong in your case!

I am not 100% sure manual investing fully works correctly, I have positions on a number of loans, and while SM availability shows on several loans, the system never seems to actually get round to making the buy (either that or its very slow..)

chris Clearly the GBBA and other packaged accounts haven't taken up the £163K. Can you give us some indication of how the take-up of new loans works across the MLA/packaged accounts ? e.g. does the system allocate each a percentage, and/or let one type go first, ... ?

I got what I bid for. That has usually happened when I have bid on a new loan.

Hello Chris

Too be honest with you that sounds like a rather negative change to me for lenders.

Lending in MLA is a positive decision by a lender, whereas in the other accounts it happens under the hood.

To give an example, lets say I invest £1k in a loan in MLA.
I also typically invest 4 figures in the auto accounts too per month.

Are you saying that my conscious decision to invest in MLA, would mean the auto accounts would no longer invest?

To my mind, that negatively impacts the value of the auto accounts and doesn't allow for risk spreading between manual and provision fund protected accounts.

Have I mis-understood?

puddleduck - I think you're misunderstanding.  The investment accounts ignore your MLA as they have no idea how to interpret what your intention is.  They look after themselves in isolation and your MLA operates solely on your buy / sell instructions.  If a new loan is launched and your GBBA decides to invest £100 and you place a £100 buy order in the MLA then the system will process each individually.  So if the maximum allocation per lender account is £90 then in that scenario you would end up with £90 in your GBBA and £90 in your MLA due to investing via two accounts, conceivably ending up with £180 vs £90 for someone investing only via the MLA.

That's not very fair and would cause issues with some features we're looking to add later in the year such as bespoke investment accounts where you could create multiple copies of an account to game the system.

So we'll be switching to a strict per lender account allocation with the next update to the marketplace.  In the above scenario where each lender is allocated £90 if you invested only via the MLA you would get £90, whereas if the GBBA wanted to invest as well (and it will continue to ignore any MLA instructions) then you would get £45 in the GBBA and £45 in the MLA.  That is fairer for all lenders and prevents the gaming of the system in that way.