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Post by Badly Drawn Stickman on Feb 4, 2021 21:00:22 GMT
Probably better to instruct a footman to open and close the windows as required, milady. You must have better things to do. Sadly it has been a long time since I had a foot man...... LW Putting to one side the strange feeling I have wandered onto a 'Carry on' film set. It must be very frustrating not being able to get the staff.
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blender
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Post by blender on Feb 4, 2021 23:09:03 GMT
I don't think it works like that, unless you can have an ASMX account. Currently we have to operate ASMX through a nominated account, and these are separate nominated accounts. For example, if you have an Abl standard account and an Abl Isa account they have separate balances in ASMX, and you cannot see the total, nor can you transfer in from one account and out to another unless you trade with yourself in ASMX. It is like the old SM, and has to be for the Isa regulations. This means that when other platforms use ASMX for their SM (notice I said when not if) you will have to have an account with the other platforms to trade in their loans. Maybe we will be able to see all loans on ASMX but only be able to trade in the ones for which we have accounts. Theoretically you could have an account with the ASMX platform, which would enable you to buy and sell all listed loans - as a market maker. The T&Cs might be a challenge. Or maybe I have that all wrong - in which case ... A couple of years back or as its known to me "the mists of time" that there was a Q&A type post on here about the launch and where i asked if ASMX worked like a fund platform does with different fund providers and funds.Pretty sure ABL replied that the idea was you could buy loans from other companies without an account with them and that loan info would be provided so you could do DD without separate accounts Yes, I think that would require an account with ASMX which would handle, or mediate, the challenging issues (commercial and regulatory) arising from not having an account with the platforms which handle the loans. That's rather different from having an account with a platform which uses ASMX to provide an SM for its account holders trading its own loans. For example, imagine only having an account with AC and using that account to buy Ablrate loans via ASMX. The mind boggles.
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macq
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Post by macq on Feb 5, 2021 7:21:40 GMT
A couple of years back or as its known to me "the mists of time" that there was a Q&A type post on here about the launch and where i asked if ASMX worked like a fund platform does with different fund providers and funds.Pretty sure ABL replied that the idea was you could buy loans from other companies without an account with them and that loan info would be provided so you could do DD without separate accounts Yes, I think that would require an account with ASMX which would handle, or mediate, the challenging issues (commercial and regulatory) arising from not having an account with the platforms which handle the loans. That's rather different from having an account with a platform which uses ASMX to provide an SM for its account holders trading its own loans. For example, imagine only having an account with AC and using that account to buy Ablrate loans via ASMX. The mind boggles. Having only just got my head around using market rate only on the new SM i could be saying the same thing as you but in a different way if so,like my wife does just ignore me while i ramble But tried linking and failed as usual - but on page 2 of this Ablrate board there is a thread called update email -ASMX which goes back to the time of tokens etc when first mentioned.Their first reply on page Four of that thread says using an example - Do i need an account with the other platform? they answer nope all taken care of. Another question was can i see and buy loans from another company but with only Abl KYC? and they answer yes and your info will not be passed to the other platform (it also mentions only doing One KYC with Abl)
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Post by Ace on Feb 5, 2021 8:49:03 GMT
I don't see how the Loan Exchange can work for other platforms' ISA accounts. My guess is that we'll have 2 Loan Exchange windows as we do now: one opened from the standard account that can buy loans from multiple platforms outside of the ISA wrapper; and one opened from the ISA account that can buy loans from Ablrate only, inside the ISA wrapper.
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blender
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Post by blender on Feb 5, 2021 9:06:48 GMT
Yes, I think that would require an account with ASMX which would handle, or mediate, the challenging issues (commercial and regulatory) arising from not having an account with the platforms which handle the loans. That's rather different from having an account with a platform which uses ASMX to provide an SM for its account holders trading its own loans. For example, imagine only having an account with AC and using that account to buy Ablrate loans via ASMX. The mind boggles. Having only just got my head around using market rate only on the new SM i could be saying the same thing as you but in a different way if so,like my wife does just ignore me while i ramble But tried linking and failed as usual - but on page 2 of this Ablrate board there is a thread called update email -ASMX which goes back to the time of tokens etc when first mentioned.Their first reply on page Four of that thread says using an example - Do i need an account with the other platform? they answer nope all taken care of. Another question was can i see and buy loans from another company but with only Abl KYC? and they answer yes and your info will not be passed to the other platform (it also mentions only doing One KYC with Abl) Yes, you are right about what was said, having scanned the first four pages: 19 Oct 18
Q. So while being registered with, and logged in to Ablrate, I can buy and sell loan-parts in the secondary market of Zopa, FundingSecure, and so on and so forth? A.- That is the basic idea yes, however I doubt very much that some of the large platforms will integrate anytime soon, they have different priorities like Zopa becoming a bank etc But they also said this:
18 Oct 18
we said in the email... nothing, apart from the way the SM looks and the additional functionality, will change. Nope, you wont be charged ASM on Ablrate or any other As we have said, if you want to just use Ablrate as it is.. then no worries Clearly there is far more to come, though it may not be exactly as originally promoted. If in the future I can have a single Ablrate ISA account and through ASMX I can buy and sell loans proper to other platforms, still within my Ablrate ISA and without accounts with other, lesser, platforms, then that sounds very attractive. I still think that there will be a few commercial and regulatory issues and that we should not set funds aside quite yet.
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macq
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Post by macq on Feb 5, 2021 9:22:25 GMT
i am just glad i don't have to work out what to do with the promised token idea
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blender
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Post by blender on Feb 5, 2021 10:00:26 GMT
I don't see how the Loan Exchange can work for other platforms' ISA accounts. My guess is that we'll have 2 Loan Exchange windows as we do now: one opened from the standard account that can buy loans from multiple platforms outside of the ISA wrapper; and one opened from the ISA account that can buy loans from Ablrate only, inside the ISA wrapper. It would have to work for ISAs or it would be much reduced in application. If loans from other platforms could be integrated in to an Ablrate account (a technical issue) then your Ablrate ISA could embrace those loans as well as the Ablrate ones. You would have to have two accounts, standard and Isa, with Ablrate and they would be kept separate in ASMX. ASMX just trades loans and in this configuration, does not manage the accounts, though it might have to know which accounts are Isa to avoid Isa accounts trading in non Isa compatible loans (if there are such things). There would be a commercial issue with the new year's Isa allowance, in that it can only be with one provider. If, for example, an Ablrate account allowed you to hold both Ablrate loans and Platform B's loans in your Isa, but Platform B's Isa account allowed you only to hold platform B's loans, then Ablrate would have a commercial advantage in competing for that Isa. Would Platform B use ASMX for its SM without offering its lenders the facility of buying and integrating other loans on ASMX within their Platform B account? If platforms choose to use ASMX, at a fee, as their only SM (which Ablrate has chosen to do) then ASMX starts to look monopolistic, until someone builds a competitor. In terms of competition and liquidity (with liquidity providers presumaby having ASMX accounts) this model is a bit 'today Abl, tomorrow the p2p world', but the p2p world has taken a step back during the current unpleasantness.
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Post by ablrate on Feb 10, 2021 22:08:58 GMT
I don't see how the Loan Exchange can work for other platforms' ISA accounts. My guess is that we'll have 2 Loan Exchange windows as we do now: one opened from the standard account that can buy loans from multiple platforms outside of the ISA wrapper; and one opened from the ISA account that can buy loans from Ablrate only, inside the ISA wrapper. It would have to work for ISAs or it would be much reduced in application. If loans from other platforms could be integrated in to an Ablrate account (a technical issue) then your Ablrate ISA could embrace those loans as well as the Ablrate ones. You would have to have two accounts, standard and Isa, with Ablrate and they would be kept separate in ASMX. ASMX just trades loans and in this configuration, does not manage the accounts, though it might have to know which accounts are Isa to avoid Isa accounts trading in non Isa compatible loans (if there are such things). There would be a commercial issue with the new year's Isa allowance, in that it can only be with one provider. If, for example, an Ablrate account allowed you to hold both Ablrate loans and Platform B's loans in your Isa, but Platform B's Isa account allowed you only to hold platform B's loans, then Ablrate would have a commercial advantage in competing for that Isa. Would Platform B use ASMX for its SM without offering its lenders the facility of buying and integrating other loans on ASMX within their Platform B account? If platforms choose to use ASMX, at a fee, as their only SM (which Ablrate has chosen to do) then ASMX starts to look monopolistic, until someone builds a competitor. In terms of competition and liquidity (with liquidity providers presumaby having ASMX accounts) this model is a bit 'today Abl, tomorrow the p2p world', but the p2p world has taken a step back during the current unpleasantness. There are some good chats going on the moment about integrating other platforms and we are addressing many of the complications. The current unpleasantness, as you put is, doesn't help and there are some additions, such as repayment records and documents available directly from ASMX that are to be updated on ASMX which would be needed to connect two platforms. We have a few updates ready to go also, we have zoom meetings with the devs on Friday and will be able to let you know when they are coming. Off the top of my head I believe it is being able to see what you are in the bid/offer ladder, open loans by default and monthly loan view as default. There are others in QA.
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Post by Badly Drawn Stickman on Feb 13, 2021 17:19:11 GMT
ablrate the Activity page seems to be limited to a single page of records, I am sure it cannot be as simple as just changing a number but it would be useful to have a lot more (All maybe?). I know this area was discussed previously and was in faint pencil on the list. Obviously if it was sort-able as well that would make it a better function still. It would also be nice if you could fast track the identification off our own bids and offers as well, that has been a big miss for too long now. Edit 22/2/21 A little better, Like the active loans only view but the switch only seems to work for off. Edit bid function?
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treeman
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Post by treeman on Feb 24, 2021 0:06:57 GMT
Showing 'tradeable only' by default at login is very welcome (noted by VI above too).
I also noticed that my bids/offers are now marked '>>' or '<<' in the market. Useful . Doesn't exactly jump out though. Perfectly fine once you know it's there, but many may not notice so perhaps an email or post listing updates/changes may be a good idea?
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blender
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Post by blender on Feb 24, 2021 9:49:17 GMT
It is 'lightning fast' as advertised. I did a decent sized trade at market rate involving a number of individual transactions and it was shown as done in a flash. Whereas on the old SM it would think about it for a while and then chunter through as you drank your coffee. A gold star for speed.
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macq
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Post by macq on Feb 26, 2021 22:59:41 GMT
Not a question about how it works but more about who actually owns ASMX.I must admit i thought that the exchange and the tech behind it were a total Abl property.But while looking for something else that i had a vague recollection of i used the simple search term ASMX partners which might now be out of date for some of its results as most are over a year old. But it does bring up things like T*C,a consultancy company and an investment group described as having a strategic stake but who's companies house listing seems interesting and maybe someone more up on registrations can explain why they seemed to change their name last year for 3 days and then back again as i have not seen that before (assuming i am not mistaken?) This has only come about as i was trying to work out how something like what happened today with T*C would play out if you were holding loans across platforms as seems to be the idea for the future and to who is controlling the actual exchange and is the main provider rather then the platform who is offering it i.e ABL
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Post by ablrate on Feb 28, 2021 17:59:38 GMT
Not a question about how it works but more about who actually owns ASMX.I must admit i thought that the exchange and the tech behind it were a total Abl property.But while looking for something else that i had a vague recollection of i used the simple search term ASMX partners which might now be out of date for some of its results as most are over a year old. But it does bring up things like T*C,a consultancy company and an investment group described as having a strategic stake but who's companies house listing seems interesting and maybe someone more up on registrations can explain why they seemed to change their name last year for 3 days and then back again as i have not seen that before (assuming i am not mistaken?) This has only come about as i was trying to work out how something like what happened today with T*C would play out if you were holding loans across platforms as seems to be the idea for the future and to who is controlling the actual exchange and is the main provider rather then the platform who is offering it i.e ABL ASMX is Gibraltar registered with a service company and an establishment company registered in the UK. It is majority owned by Ablrate management. It is a piece of technology so has no play in the loans at all. There are some strategic partners with small stakes. ASMX was looking to partner with T*C as one of many platforms, but they moved to a 'black box' solution and covid hit so the conversation went no further. All loans, even those across the exchange, would still be bilateral which means that you would have the same rights to repayment as you would have if you were a registered user of the platform. It is a question that is being discussed and procedures created right now in discussions with many in the industry. With the hindsight of some of the platform failures it gives practical examples of what happens and how things could be structured differently to better serve lenders in default and in platform failure. I.e. If you have a bunch of platforms working together, maybe those loans could be bought, quickly. Maybe there is a central company that acts for all lenders, maybe to sign up for ASMX a platform has to agree to utilize an administrator who works on a fixed fee at the instruction of ASMX or the group representing all platforms.
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macq
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Post by macq on Feb 28, 2021 18:59:24 GMT
Not a question about how it works but more about who actually owns ASMX.I must admit i thought that the exchange and the tech behind it were a total Abl property.But while looking for something else that i had a vague recollection of i used the simple search term ASMX partners which might now be out of date for some of its results as most are over a year old. But it does bring up things like T*C,a consultancy company and an investment group described as having a strategic stake but who's companies house listing seems interesting and maybe someone more up on registrations can explain why they seemed to change their name last year for 3 days and then back again as i have not seen that before (assuming i am not mistaken?) This has only come about as i was trying to work out how something like what happened today with T*C would play out if you were holding loans across platforms as seems to be the idea for the future and to who is controlling the actual exchange and is the main provider rather then the platform who is offering it i.e ABL ASMX is Gibraltar registered with a service company and an establishment company registered in the UK. It is majority owned by Ablrate management. It is a piece of technology so has no play in the loans at all. There are some strategic partners with small stakes. ASMX was looking to partner with T*C as one of many platforms, but they moved to a 'black box' solution and covid hit so the conversation went no further. All loans, even those across the exchange, would still be bilateral which means that you would have the same rights to repayment as you would have if you were a registered user of the platform. It is a question that is being discussed and procedures created right now in discussions with many in the industry. With the hindsight of some of the platform failures it gives practical examples of what happens and how things could be structured differently to better serve lenders in default and in platform failure. I.e. If you have a bunch of platforms working together, maybe those loans could be bought, quickly. Maybe there is a central company that acts for all lenders, maybe to sign up for ASMX a platform has to agree to utilize an administrator who works on a fixed fee at the instruction of ASMX or the group representing all platforms. Thanks for the info - Still feels like loans across platforms could turn messy in a failure of One company but i take your point that ASMX is the tech behind the process only (and that you are looking at solutions) But to be fair i was thinking about this based on 2 points One - was T*C news and Two was a company announced as a partner who's details at companies house do not look up to date
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blender
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Post by blender on Feb 28, 2021 19:15:53 GMT
'Ablrate management' is not a legal person and cannot own a company. Presumably it is not owned by Aviation and Tech Capital Ltd. Is it majority owned by one person or by a combination of person? Do they have names?
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