SteveT
Member of DD Central
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Post by SteveT on Aug 11, 2020 10:59:05 GMT
New information* now leads me to conclude that the wording of AC's explanatory emails may well be correct after all and that existing 30DAA / 90DAA withdrawal requests are to be routed via the new AA Marketplace (although at Par). This would mean that any existing 30DAA / 90DAA withdrawals have to be cancelled (with a new option to transfer funds immediately to the QAA if the notice period already has been served) before a discounted QAA investment bid can be created. I still assume that Standard and IFISA accounts will be treated as separate, but cannot test this be certain. *which again, I cannot explain! Ignore the above, which apparently was down to a bug in the updated test environment. I'm hopefully OK to share the following definitive confirmation that all Access accounts will be regarded as separate and so each can either Invest or Withdraw in parallel, regardless of existing orders in other Access accounts: " Each account QAA, 30DAA, 90DAA, QAA IFISA, 30DAA IFISA, 90DAA IFISA will have its own withdraw vs invest rule but they will not overlap. An existing 30DAA / 90DAA withdrawal request will not prevent any invest requests in the QAA. I've forwarded the feedback about the confusion this is causing internally."
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Post by Ace on Aug 11, 2020 13:01:26 GMT
New information* now leads me to conclude that the wording of AC's explanatory emails may well be correct after all and that existing 30DAA / 90DAA withdrawal requests are to be routed via the new AA Marketplace (although at Par). This would mean that any existing 30DAA / 90DAA withdrawals have to be cancelled (with a new option to transfer funds immediately to the QAA if the notice period already has been served) before a discounted QAA investment bid can be created. I still assume that Standard and IFISA accounts will be treated as separate, but cannot test this be certain. *which again, I cannot explain! Ignore the above, which apparently was down to a bug in the updated test environment. I'm hopefully OK to share the following definitive confirmation that all Access accounts will be regarded as separate and so each can either Invest or Withdraw in parallel, regardless of existing orders in other Access accounts: " Each account QAA, 30DAA, 90DAA, QAA IFISA, 30DAA IFISA, 90DAA IFISA will have its own withdraw vs invest rule but they will not overlap. An existing 30DAA / 90DAA withdrawal request will not prevent any invest requests in the QAA. I've forwarded the feedback about the confusion this is causing internally." Thanks for keeping us informed SteveT . It's a pity that Assetz hasn't sent a correction to their email. There will definitely be less cash available for SM purchases due to their miscommunication as some my funds that were waiting on the platform for that purpose have already been invested elsewhere. I wouldn't have been interested at single digit discounts given the current economic conditions and the likely long term tie-in, but I would have been happy to take the risk at around 12% plus.
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theta
Posts: 46
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Post by theta on Aug 11, 2020 16:13:20 GMT
I believe* that ISA and Standard accounts will be totally separate except for transfers of cash. No reason at all to link them through the SM and every reason not to, regulation-wise. The linkage is in presentation.
*A personal but firm conviction unsupported by any special knowledge. Why? I would argue the opposite: There is a reason to link them (better price discovery and liquidity by aggregating all buyers and sellers), and every reason not to have two separate markets for the same underlying asset. Stocks for both ISAs and regular accounts trade in the same stock exchange for example, and it's the same stock that is traded by both.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Aug 11, 2020 16:22:41 GMT
I believe* that ISA and Standard accounts will be totally separate except for transfers of cash. No reason at all to link them through the SM and every reason not to, regulation-wise. The linkage is in presentation.
*A personal but firm conviction unsupported by any special knowledge. Why? I would argue the opposite: There is a reason to link them (better price discovery and liquidity by aggregating all buyers and sellers), and every reason not to have two separate markets for the same underlying asset. Stocks for both ISAs and regular accounts trade in the same stock exchange for example, and it's the same stock that is traded by both. Think you might be misinterpreting the post. The accounts will be operating in the same market but independently so you can have separate buy/sell orders on each or a buy & a sell.
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Post by angel19 on Aug 11, 2020 17:53:26 GMT
Agreed that’s how it should work. That should mean if someone is selling an ISA QAA holding at a big discount, this can be bought by someone in their non-ISA QAA. I guess you could also buy your own non-ISA QAA holdings into your own ISA QAA at a discount!
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iRobot
Member of DD Central
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Post by iRobot on Aug 11, 2020 20:14:44 GMT
Place your opening predictions here...
Opening day (Wednesday? possibly? maybe?)
<snip> I wonder if AC were to check the server stats at midnight tonight, whether the number of people logged on would be 10x, 25x, 50x or 100x the usual number  
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Post by davee39 on Aug 11, 2020 20:23:07 GMT
Knowing AC, anyone logging on at midnight would have to wait 23hrs and 59 minutes.
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agent69
Member of DD Central
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Post by agent69 on Aug 11, 2020 21:10:16 GMT
Place your opening predictions here...
Opening day (Wednesday? possibly? maybe?)
<snip> I wonder if AC were to check the server stats at midnight tonight, whether the number of people logged on would be 10x, 25x, 50x or 100x the usual number I'm having an early night, and will wake refreshed to see what the new day brings. As a minimum, I hope to see all the repaymenys from the last 8 days have been distributed.
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blender
Member of DD Central
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Post by blender on Aug 11, 2020 21:10:51 GMT
They will need support staff available, and there is all that cash to distribute. My guess 2pm, second guess 10am.
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dead-money
Rocket to the Moon
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Post by dead-money on Aug 11, 2020 21:45:06 GMT
My guess is next Monday. :-(
Would just be nice if they distributed the repayments sometime soon.
If this 'temporary pause' goes on much longer we might have to call it something else soon...
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theta
Posts: 46
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Post by theta on Aug 11, 2020 22:22:08 GMT
Think you might be misinterpreting the post. The accounts will be operating in the same market but independently so you can have separate buy/sell orders on each or a buy & a sell. I see, yep that makes sense
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Post by carpecyprinidae on Aug 12, 2020 10:34:38 GMT
Would just be nice if they distributed the repayments sometime soon. yeah thats all I'm waiting for. I won't be discounting out. I would like them to get on with what they already collected on our behalf though so I can withdraw it
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SteveT
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Post by SteveT on Aug 12, 2020 13:26:39 GMT
Best available discount at 14:25 is back to 5% (I've little cash on hand so no way of knowing the £ amount, but it's at least £10 !)
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Post by drphil on Aug 12, 2020 13:34:17 GMT
Discount rate seems to fluctuating markedly.
Using test amounts (<£5) I have had the following sell offers in the last 30 mins or so:
5% missed 7.1% sold
9.07% missed 12% passed 10% sold
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SteveT
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Post by SteveT on Aug 12, 2020 13:36:20 GMT
Currently (14:34) at least £2500 available at 8% discount (checked via another account with more cash)
There also looks to be a £100 bid at 10% discount
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