blender
Member of DD Central
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Post by blender on Jul 5, 2021 12:02:08 GMT
In their court but currently descending from an exceptionally high lob and providing much time to consider how to play it. It seems clear that the effects of the charge have not been completely thought through yet - see the response on the effective entry charge for an ISA for example. And I rather think that it would be desirable to have another ASMX customer platform paying these rates happily before seeing the effects of passing them on to Ablrate lenders. It's also a charge affecting those liquidity providers and underwriters (I assume). So our cages may be being rattled with a stick to test how we feel - if that was not obvious.
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Post by ablrate on Jul 5, 2021 13:05:16 GMT
As a Yorkshireman, I appreciate the need to 'optimize' any transaction, but I am also happy to pay for something that gives me more value back. You will also appreciate that we are a business and we have to look at a bigger picture.
I have seen enough on here and also received enough 'free advice' on emails to know that some investors are not happy with the P2P space. This has been coming for some time and as a business we can do something about it, or move onto something else, we decided to do something about it.
I am sure you can see where the P2P industry is going. It has been evident to us, for many years, that illiquid products will eventually be moved away from the retail market and from HNW and sophisticated, as evidenced by the FCA' execution of the mini-bond market (some would say correctly). With the FCA's consultation paper in April they are making it even clearer that they are moving towards that outcome. Sooner or later you will be able to choose a limited range of investment products from banks and similar providers giving limited returns. You may disagree, but that is our assessment and we are building our business based on that assessment. We have, over the last three years, been developing a solution to that and ASMX is part of it. The bottom line is that liquidity, going forward, will be key. It will be key to diversification, risk management, quality control and standardization and it will be crucial to allow the space to continue providing opportunities for lenders.
So while we appreciate that some don't like/want change, change is being forced upon us and there is no turning back. As you have seen, many platforms have wound down, or are moving to 'institutional only' because they can see that dealing with the retail market will be overly expensive from a regulatory and risk perspective. We believe that there is a balance and that through standardization, liquidity and education the risk to retail investors can be balanced against the right of access to certain investment products.
I get that you don't all share this view and that is fine, but I tell you this so you know where we are headed.
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
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Post by brianlom1 on Jul 5, 2021 13:28:49 GMT
Quite right, this will be a problem when it comes to putting new tax year's money in an ISA & buying loans from my non-ISA account - for the full £20k ISA allowance it will cost you £100 ablrate , did you incur these 0.25% fees (for both buying & selling) when you ran your own Loan Exchange on ablrate.com, or have you only started incurring the fees since the loan exchange was moved to ASMX, please? I think it would be easy enough to stop/rebate fees between accounts.
No, we didn't charge ourselves fees. However, ASMX is a third party, albeit a friendly one, and there are fees involved to Ablrate. ablrate - for me, this is a positive step forward, I'd be interested to see more detail behind the proposal as it develops
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Post by Ace on Jul 15, 2021 7:11:15 GMT
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blender
Member of DD Central
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Post by blender on Jul 15, 2021 11:47:23 GMT
Or something in between customer and competitor.
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criston
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Post by criston on Jul 17, 2021 16:33:14 GMT
Quite right, this will be a problem when it comes to putting new tax year's money in an ISA & buying loans from my non-ISA account - for the full £20k ISA allowance it will cost you £100 ablrate , did you incur these 0.25% fees (for both buying & selling) when you ran your own Loan Exchange on ablrate.com, or have you only started incurring the fees since the loan exchange was moved to ASMX, please? I think it would be easy enough to stop/rebate fees between accounts. No, we didn't charge ourselves fees. However, ASMX is a third party, albeit a friendly one, and there are fees involved to Ablrate. At least allow trades between accounts, as well as trades between family members, free of fees. Both of those options we have found extremely useful. That would reduce any future fee charges substantially for us; although like others, I don't see why Ablrate investors trading in Ablrate loans, should not be excluded from fees.
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Post by Badly Drawn Stickman on Aug 7, 2021 15:01:58 GMT
Loan 147 seems to be on the ASMX naughty step and I am not sure why. Restricted to par trading would seem to be where it should be.
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GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
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Post by GreenZero on Nov 24, 2021 17:41:50 GMT
Funny, for quite a while now, we've not heard anything about the favourite child ASMX......
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Post by ladywhitenap on Nov 24, 2021 17:44:48 GMT
Funny, for quite a while now, we've not heard anything about the favourite child ASMX...... Be careful what you wish for ! LW
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GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
Posts: 221
Likes: 313
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Post by GreenZero on Nov 24, 2021 18:00:11 GMT
Funny, for quite a while now, we've not heard anything about the favourite child ASMX...... Be careful what you wish for ! LW As things stand at the moment, I don't think he'd dare give the olde 'liquidy' speech . ...He wouldn't, would he??
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blender
Member of DD Central
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Post by blender on Dec 28, 2021 15:28:26 GMT
All I wanted for XMAS was for ASMX to provide more trading opportunities. Where's Santa?
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Post by Ace on Dec 28, 2021 16:33:57 GMT
All I wanted for XMAS was for ASMX to provide more trading opportunities. Where's Santa? Perhaps Santa got distracted as well!
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hubert
Member of DD Central
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Post by hubert on Mar 3, 2022 19:08:01 GMT
Windows 11. Did factory reset.
Have Ablrate on 'auto tab reload'
After opening & closing 'loan exchange' get the following message when tab reloads. Also happens when I manually refresh.
'Confirm Form Resubmission. The page that you're looking for used information that you entered. Returning to that page might cause any action that you took to be repeated. Do you want to continue?'
Did not happen before factory reset. Happens on Chrome, Edge, Opera, Firefox & Avast.
Blogging problem appears to have complicated fix. Is there an easy fix ?
It does it does it even if I leave ASMX open.
If I am on another tab, when Ablrate refreshes it automatically takes me back to Ablrate.
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