k6
Posts: 163
Likes: 105
|
Post by k6 on Nov 21, 2020 14:00:19 GMT
Yes and this is the thing I'm missing. When reinvesting returns, I used to sort by discounts to see if there's anything I might fancy at that end, it's a shame sort facility was not included in ASMX. Not sure why they couldn't keep the old secondary market screen rather than replacing it with "Existing loans" for now.
Disable the ability to make purchases if needs be, but why not keep the interface we're used to until ASMX works.
I'm not too bothered if it takes longer to purchase - I spend very little time buying compared to checking for problems.
I tend to sort by invested amount and have a quick glance for any paused loans and any low % premium which might indicate a risk or a bargain.
As I weight my investment against return and risk (IMO) I pay more attention to the top lines whereas trying to remember what the number and code is for each loan and then scroll through seven pages of text trying to mentally sort the results is a more taxing memory feat.
What took me 1 minute per day and gave a feeling of confidence in the site now takes me 10 and leaves me unsure whether I've missed somethimg. Looking forward to getting up to the old level of functionallity.
Agree. I have stopped using SM at the moment. Too much limitations compering to the previous one. Also don't understand the decision to implement something that is not fully ready and disabling what in my opinion was perfectly fine. It seams it will take another year before the new SM will be up to the old one in term of easy of use and functionality.
|
|
|
Post by Ace on Nov 21, 2020 17:13:52 GMT
As ABLrate have gone quiet for a bit I thought I would answer on their behalf. It's really just cobbling together their previous comments with a little of my own interpretation. Here goes:
"Thank you all for your comments. We value them all greatly. We're really glad that we've had so many complaints regarding the really useful features that were present in the old system but are missing from ASMX. This is exactly what happened last time we created a new user interface back in 2015. We eventually fixed many of the problems and you all came to love the old SM. So, the fact that many of the features are now missing from ASMX proves that were doing everything right again.
We really are listening very carefully to the feedback and are doing everything we can to restore those, now missing, useful features. We've already released 2 updates to ASMX. The fact that the really useful features you keep asking for are still missing is because our top-notch tech team know better than you, or are choosing some easier features first before they advance to the really tricky stuff like giving you control over how things are displayed. If it's taking you much longer to do the essential things than it used to then you must be doing something wrong because it's streets ahead of the old tech on both speed and ease of use. Anyway, we're doing another update next month to correct a spelling mistake in one of the admin notes, so we don't expect to hear any more whinging after that..."
OK, there's a certain amount of tongue in cheek. I like ABLrate a lot, and believe that they are very good at their main job (managing our loans), but come on ABLrate, this is a poor show. You've released this product before its ready, and for no perceived advantage. I could have understood it if there were other platforms chomping at the bit to use ASMX, but right now is a backward step.
|
|
|
Post by muttley916 on Nov 21, 2020 18:31:09 GMT
Not sure why they couldn't keep the old secondary market screen rather than replacing it with "Existing loans" for now.
Disable the ability to make purchases if needs be, but why not keep the interface we're used to until ASMX works.
I'm not too bothered if it takes longer to purchase - I spend very little time buying compared to checking for problems.
I tend to sort by invested amount and have a quick glance for any paused loans and any low % premium which might indicate a risk or a bargain.
As I weight my investment against return and risk (IMO) I pay more attention to the top lines whereas trying to remember what the number and code is for each loan and then scroll through seven pages of text trying to mentally sort the results is a more taxing memory feat.
What took me 1 minute per day and gave a feeling of confidence in the site now takes me 10 and leaves me unsure whether I've missed somethimg. Looking forward to getting up to the old level of functionallity.
Agree. I have stopped using SM at the moment. Too much limitations compering to the previous one. Also don't understand the decision to implement something that is not fully ready and disabling what in my opinion was perfectly fine. It seams it will take another year before the new SM will be up to the old one in term of easy of use and functionality. Agreed. I have tried to use it and have had a similar experience. More effort, less clarity and the feeling of having missed something. I have tried to search for loans, using the new short name. Eg FOR for the F******* loans returned 46 loans. I have given up on the SM
|
|
|
Post by overthehill on Nov 21, 2020 21:21:31 GMT
Moderators, isn't this previous post identifying the borrower ? I know you've been focusing in on my posts like a laser. I see some inconsistency here.
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Nov 21, 2020 22:21:47 GMT
Moderators, isn't this previous post identifying the borrower ? I know you've been focusing in on my posts like a laser. I see some inconsistency here.
Rather surprisingly perhaps the Moderators are not always on-line and certainly don't have the capacity to read every single post made. Perhaps you could help out if you see something that needs moderating by Reporting the post, accessed here , as indeed has just happened on the post you mention. Another forum member has kindly reported it which is why I am here to deal with it.
|
|
treeman
Member of DD Central
Posts: 1,026
Likes: 557
|
Post by treeman on Nov 21, 2020 22:44:40 GMT
Back on subject........
ablrate I have a loan with a sub £10 remaining holding, so I tried listing all of it and have fallen foul of the big red ' Minimum order quantity of £10.00 not met' banner.
Is the 'you can sell all if it's sub £10' not working or is there some fractional penny I can't see scuppering execution?
|
|
|
Post by ablrate on Nov 23, 2020 9:39:42 GMT
Back on subject........
ablrate I have a loan with a sub £10 remaining holding, so I tried listing all of it and have fallen foul of the big red ' Minimum order quantity of £10.00 not met' banner.
Is the 'you can sell all if it's sub £10' not working or is there some fractional penny I can't see scuppering execution?
email us to let us know which account and which loan and we will take a look
|
|
|
Post by ablrate on Nov 23, 2020 10:10:46 GMT
As ABLrate have gone quiet for a bit I thought I would answer on their behalf. It's really just cobbling together their previous comments with a little of my own interpretation. Here goes: "Thank you all for your comments. We value them all greatly. We're really glad that we've had so many complaints regarding the really useful features that were present in the old system but are missing from ASMX. This is exactly what happened last time we created a new user interface back in 2015. We eventually fixed many of the problems and you all came to love the old SM. So, the fact that many of the features are now missing from ASMX proves that were doing everything right again.
We really are listening very carefully to the feedback and are doing everything we can to restore those, now missing, useful features. We've already released 2 updates to ASMX. The fact that the really useful features you keep asking for are still missing is because our top-notch tech team know better than you, or are choosing some easier features first before they advance to the really tricky stuff like giving you control over how things are displayed. If it's taking you much longer to do the essential things than it used to then you must be doing something wrong because it's streets ahead of the old tech on both speed and ease of use. Anyway, we're doing another update next month to correct a spelling mistake in one of the admin notes, so we don't expect to hear any more whinging after that..."OK, there's a certain amount of tongue in cheek. I like ABLrate a lot, and believe that they are very good at their main job (managing our loans), but come on ABLrate, this is a poor show. You've released this product before its ready, and for no perceived advantage. I could have understood it if there were other platforms chomping at the bit to use ASMX, but right now is a backward step. There are lots of updates coming, including new filters, repayment views on each loan on ASMX, searchable orders, trades etc. For clarity, volume on ASMX has increase by 30% since the implementation of the new exchange and in regards to more liquidity; We have had discussions about the implementation of automated trading which will begin coding shortly and will likely be released within weeks - this means that liquidity will be automated to a certain level. We have liquidity providers coming on board who will be essentially sitting on the bid of all loans, giving you more liquidity. Our underwriter program is getting ready to go formally which will, in turn increase origination. You're welcome. Rome wasn't built in a day, we appreciate that whatever we do won't please some lenders and for that we are sorry, but progress requires change. I am sure within a short space of time the Loan Exchange will be all that you had hoped.
|
|
|
Post by ablrate on Nov 23, 2020 10:13:51 GMT
Back on subject........
ablrate I have a loan with a sub £10 remaining holding, so I tried listing all of it and have fallen foul of the big red ' Minimum order quantity of £10.00 not met' banner.
Is the 'you can sell all if it's sub £10' not working or is there some fractional penny I can't see scuppering execution?
We checked the server, it was rounding situation. We have fixed it, and are deploying on our test server. As soon as those test are done it will be deployed to live. Thanks for the feedback
|
|
|
Post by ablrate on Nov 23, 2020 13:51:49 GMT
Back on subject........
ablrate I have a loan with a sub £10 remaining holding, so I tried listing all of it and have fallen foul of the big red ' Minimum order quantity of £10.00 not met' banner.
Is the 'you can sell all if it's sub £10' not working or is there some fractional penny I can't see scuppering execution?
Hi - that is done and you can trade amounts below £10 if you sell all.
|
|
treeman
Member of DD Central
Posts: 1,026
Likes: 557
|
Post by treeman on Nov 23, 2020 14:14:07 GMT
Back on subject........
ablrate I have a loan with a sub £10 remaining holding, so I tried listing all of it and have fallen foul of the big red ' Minimum order quantity of £10.00 not met' banner.
Is the 'you can sell all if it's sub £10' not working or is there some fractional penny I can't see scuppering execution?
Hi - that is done and you can trade amounts below £10 if you sell all. Yep, works now, offer has just been placed successfully.
|
|
|
Post by Badly Drawn Stickman on Nov 24, 2020 22:31:45 GMT
ablrate taking 146 as an example, would it be possible to illustrate that loans are restricted to 100% on the main view page. Currently it relies on 'knowledge' or reading the updates. I accept it is restricted so disadvantages bidding is not possible but it looks like a space is available to add a label for convenience.
|
|
|
Post by ablrate on Nov 25, 2020 12:55:14 GMT
ablrate taking 146 as an example, would it be possible to illustrate that loans are restricted to 100% on the main view page. Currently it relies on 'knowledge' or reading the updates. I accept it is restricted so disadvantages bidding is not possible but it looks like a space is available to add a label for convenience. Good idea.. will put in on the dev list
|
|
ganymede
Member of DD Central
Posts: 299
Likes: 207
|
Post by ganymede on Nov 26, 2020 10:44:05 GMT
After two buys on ablrate asmx I given up using asmx at least for now. It's designed to look completely non functional, 7 lines to display each loan, not only scrolling down to view page but increasing the number of pages to go through certainly not designed for large numbers of loans other providers/originators might add. That not the reason, the following is.
For tax purpose the treatment of accrued interest I thought had changed, and is no long recorded only the summary transaction amounts, for the interest figures are no longer adjusted. Looked like the tax reports would be wrong.
While sub £1 error so far, any more trading on asmx will just be adding to the problems. Now I'm not so sure, that the accrued amounts aren't being displayed incorrectly by asmx looks like they could be out by a factor of 100.
So £0.26 is really £0.0026 and rounds down to £0.00, which means the overall buy/sell prices are displayed incorrectly by asmx. Then I had been expecting to see £0.26 in the accounts under accrued to match asmx displayed amount. I can't try live transactions with larger accrued amounts just to find out if the accrued is being record correctly in the accounts.
|
|
|
Post by ablrate on Nov 26, 2020 17:46:57 GMT
After two buys on ablrate asmx I given up using asmx at least for now. It's designed to look completely non functional, 7 lines to display each loan, not only scrolling down to view page but increasing the number of pages to go through certainly not designed for large numbers of loans other providers/originators might add. That not the reason, the following is.
For tax purpose the treatment of accrued interest I thought had changed, and is no long recorded only the summary transaction amounts, for the interest figures are no longer adjusted. Looked like the tax reports would be wrong.
While sub £1 error so far, any more trading on asmx will just be adding to the problems. Now I'm not so sure, that the accrued amounts aren't being displayed incorrectly by asmx looks like they could be out by a factor of 100.
So £0.26 is really £0.0026 and rounds down to £0.00, which means the overall buy/sell prices are displayed incorrectly by asmx. Then I had been expecting to see £0.26 in the accounts under accrued to match asmx displayed amount. I can't try live transactions with larger accrued amounts just to find out if the accrued is being record correctly in the accounts. - Scrolling will be changing to a numbered amount of loans... so you will be able to have 50/100 etc - Filtering is on our staging server tomorrow for testing/evaluation so should be live soon - The accrued interest is recorded in the account history, not sure where you are looking to say its not? It looked like the two trades you did were on the payment day, so there is no accrued - The platform and the Loan Exchange are to 6dp rounded to 2. So it is being recorded in your account to 6dp but we don't display that. - I have checked the accrued on the loan you traded and it looks to me to be calculating correctly I have seen your email and was due to respond but if you have something specific that you would like us to check that would be great, if there is an error we will get it sorted pronto, but it looks correct to me. My example trade was £300 on 113 @ 13% for 2 days is 21.6p round to 22p. Happy to have a look at anything specific on a deeper dive just email dbw@ directly best
|
|