tonyr
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Post by tonyr on Dec 2, 2019 15:56:12 GMT
Ohh - something just changed!
It used to be that we'd have one or two buy/sell cycles in a day, now we seem to get one an hour.
Also a few days ago there was something like £5m at 8.5% or better, that's suddenly all gone and now there is only about £1m.
Interesting...
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Post by chris on Dec 3, 2019 8:30:12 GMT
With the shutting of the GBBA2/1, PSA, and GEA we could make some optimisations anyway, and whilst modifying that area of code I made a few other optimisations. The market now cycles through all the loans approximately every 20 minutes. That'll vary as the loan book grows, it takes around 2 seconds per loan.
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tonyr
Member of DD Central
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Post by tonyr on Dec 3, 2019 9:59:59 GMT
With the shutting of the GBBA2/1, PSA, and GEA we could make some optimisations anyway, and whilst modifying that area of code I made a few other optimisations. The market now cycles through all the loans approximately every 20 minutes. That'll vary as the loan book grows, it takes around 2 seconds per loan. Thanks Chris, that's very helpful. I won't ask you about the amount available (liquidity) because you probably know and can't say. But I'd be interested in other people's guess. I know these things come and go and I know that the change wasn't due to more money comnig in and buying up the loan parts because mine didn't go. So I guess that means that someone put up many millions for sale and then decided that now wasn't the time and theyd take them off the market again. I'm not too worried, this has happened before, but if it becomes permanent for us manual investors then I'll (sadly) have to go elsewhere.
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sl75
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Post by sl75 on Dec 3, 2019 16:14:10 GMT
... So I guess that means that someone put up many millions for sale and then decided that now wasn't the time and theyd take them off the market again. I'm not too worried, this has happened before, but if it becomes permanent for us manual investors then I'll (sadly) have to go elsewhere. My first guess whenever there's "someone" with millions up for sale is the AC admin staff and/or clever algorithms responsible for managing the portfolio that backs the Access Accounts.
They'd undoubtedly have been given a heads up that sales instructions are expected to be processed within about 20 minutes rather than the previous expectation of "probably within a couple of days", so can now place sales instructions for relatively liquid loans around the time they wish to generate cash in that account, rather than days in advance.
Edit: I later noted that the Access Accounts have significantly more non-invested cash in them - this is likely more to do with 2 large loans having just been refinanced, and start-of-month deposits by investors, but would give another independent reason why they may have paused or switched off some of the sales.
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Post by stuartassetzcapital on Dec 4, 2019 6:50:51 GMT
... So I guess that means that someone put up many millions for sale and then decided that now wasn't the time and theyd take them off the market again. I'm not too worried, this has happened before, but if it becomes permanent for us manual investors then I'll (sadly) have to go elsewhere. My first guess whenever there's "someone" with millions up for sale is the AC admin staff and/or clever algorithms responsible for managing the portfolio that backs the Access Accounts.
They'd undoubtedly have been given a heads up that sales instructions are expected to be processed within about 20 minutes rather than the previous expectation of "probably within a couple of days", so can now place sales instructions for relatively liquid loans around the time they wish to generate cash in that account, rather than days in advance.
Edit: I later noted that the Access Accounts have significantly more non-invested cash in them - this is likely more to do with 2 large loans having just been refinanced, and start-of-month deposits by investors, but would give another independent reason why they may have paused or switched off some of the sales.
No idea what caused that observed market characteristic. Just to stop the wild speculation it would not be legal nor ethical for us or others to benefit from insider information by the way nor to manipulate any markets and we have strict policies on that as you would expect so no-one got a 'heads-up' of any kind even if such a thing would help someone which I cannot see how it would in any case.
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