Exit from QAA account investments queued. (AC)

A few folks further up posted about a queue and thanking AC for quick implementation, but as far as I can see nothing had changed.

A 90AA withdrawal was due today and I can't see any sign of this discussed new implementation a few of you are seeing? Would it be possible to screenshot it?

All good questions.
To enhance the integrity of the system, any funds needed to fund an MLA order should take precedence (jump the queue) over funds that are going to the Cash Account. This is to prioritise funding loans.

It *is* for AC to say how the system works and for lenders to accept or not (i.e. lend or go away) the rules (i.e. T&Cs).
The issues we are having are two: (1) T&Cs are not sufficiently clear on how queuing works and (2) the queuing system was not implemented.
The second issue is more of an issue.

The two objectives aren't necessarily mutually exclusive. It needs to be a balanced & nuanced solution to ensure all investors are treated fairly and platform continues to operate as close to the norm as possible.


Currently I have sweep turned off in order to allow my MLIA to operate as normal. This is unfair on me as it means I don't earn interest on uninvested funds (an AC selling point) and it is potentially unfair on people with funds stuck in the QAA/MLIA as if my funds were swept it could release funds they wish to withdraw. [Ok, at the moment I have open targets so it gets reinvested immediately but Im almost maxed out so free cash likely in a day or two)


So give queue priority to swept MLIA funds being used to buy loan parts. Market operates as normal, I get interest, money gets released to withdraw. Everyone happy? Maybe needs to be more nuanced still and only buying loan parts from QAA holdings gets priority.

Hopefully we get some resoultion by Monday. Personally this whole thing has really made re-think my risk in P2P altogather. It's the lack of clear comms thats having me baffled, as well as half baked implementations which are causing more questions than answers for investors. Don't Invest if u don't like the control AC has over the platform, I'm seeing alot in threads on this site.

I'd becareful about saying that, because most standard investors, myself included are wanting to run to the hills as soon as their system is implemented. Not because we fear the loan book or under lying investments, but because we fear the unknown that we are being consistently represented with. I dont' have time to wait around and ponder what AC might do next, I want to make investments and work on my own business without head aches from non-existant features waiting to be implemented. Nobody knows if it even be fair game when this system is fully online, so it pays divinends to keep a eye on this site and AC to make sure you arent' late to the show.

Lot of talk about an 'appropriate queuing system' AC should have had in place that was fair and why did they not implement a queuing system. Can anyone enlighten me to what other P2P companies use and AC should have followed eg Loanpad who as I see it have a similar setup with a Classic daily access and Premium 60 Day accounts. Also considering where we are now do these initial off the shelf/bespoke queuing systems still apply in their original format or do they need to adapt and if so to cater for what new circumstances?  

I'm up for thinking this through, (sadly) it's the sort of thing I enjoy.

The QAA has to have equal status to a MLA lender, anything else is biassed. There are two sorts of borrower repayment, interest and capital, I see no reason not to allocate prorata to all borrowers. There is also the possibility of QAA selling to manual, I don't see why that can't happen if anyone wants to pick them up. If parts were sold at a discount that gets more controversial.

The queue has to be first in, first out. We've been promised a queue and that's the only reasonable choice. Note that the current trading algorithm isn't a queue, it's a pool that isn't what we were promised.

It's up to AC what fraction of loan repayments go into the queue, they can't run free cash to exactly zero, that would take a lot of arguing that it is in everybody's interests.

What's wrong with what I've outlined? It's so simple I had assumed that AC had already implemented it.