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Post by PierToPier on Jun 18, 2021 10:17:23 GMT
Hey ablrate, a few suggestions: 1. It would be really handy to see a brief reason as to why a loan is currently not tradeable/paused. 2. When viewing my trades/orders/wallet/activity, I'd like to be able to click-thru to the loan. Make the symbol/loan id clickable. 3. Is there an API for this exchange that us punters can use to amongst other things, create/cancel orders, view bids and offers?
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Post by ablrate on Jun 21, 2021 8:14:52 GMT
ablrate , There appears to be a problem with the 'Chart' section on ASMX for loan 1000158. The trading range does not appear to be accurately reflected in the positioning of the chart elements. This functionality appears to be working for other loans. The chart was functioning correctly when the loan launched but seemed to stop working properly a few days ago. This was because a trade went through at a deep discount and it distorted the chart view. We are looking at the charting section.
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Post by ablrate on Jun 21, 2021 8:22:04 GMT
Hey ablrate , a few suggestions: 1. It would be really handy to see a brief reason as to why a loan is currently not tradeable/paused. 2. When viewing my trades/orders/wallet/activity, I'd like to be able to click-thru to the loan. Make the symbol/loan id clickable. 3. Is there an API for this exchange that us punters can use to amongst other things, create/cancel orders, view bids and offers? 1. It would be really handy to see a brief reason as to why a loan is currently not tradeable/paused. That is on Ablrate, but we are working on everything you could see on Ablrate being seen on ASMX and that is one that has not been done yet. It is a very good shout, will get that done. 2. When viewing my trades/orders/wallet/activity, I'd like to be able to click-thru to the loan. Make the symbol/loan id clickable. In the wallet you have the 'Trade' button which opens the loan. I will see if the loan number can have a similar function. 3. Is there an API for this exchange that us punters can use to amongst other things, create/cancel orders, view bids and offers? There is an API that we are testing with an algorithm at the moment to create liquidity. It has been running for a while and has worked well. We are, therefore, looking at the best way of opening this up.
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Post by PierToPier on Jun 22, 2021 11:43:44 GMT
Is it possible to transfer a Standard Account loan position into an IFISA Account, without having to go through ASMX selling on one account and buying on another?
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Post by ladywhitenap on Jun 22, 2021 11:53:26 GMT
Is it possible to transfer a Standard Account loan position into an IFISA Account, without having to go through ASMX selling on one account and buying on another? My understanding is that you can only transfer cash between accounts so you will have to sell the holding and buy back from the isa account. you will either need to sell them to someone else or have enough cash in your ISA account to cover the cost. I believe you can have two windows open at the same time to do a near instant offer for sale and buy but I've not tried it. I just transfer the repayments from non ISA loans into my IFISA. LW
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nick
Member of DD Central
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Post by nick on Jun 22, 2021 11:56:04 GMT
Is it possible to transfer a Standard Account loan position into an IFISA Account, without having to go through ASMX selling on one account and buying on another? Unfortunately the answer is no. I believe there is restriction on being able to do any in specie transfers for any IFISA or ISAs more generally. This is probably to ensure all transfers are undertaken at market value to avoid abuse. Edit: crossed with LW
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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 Jun 22, 2021 11:59:32 GMT
Is it possible to transfer a Standard Account loan position into an IFISA Account, without having to go through ASMX selling on one account and buying on another? No, it has to done through an open market under HMRC rules
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Post by supernumerary on Jul 1, 2021 16:26:22 GMT
How do we ASMX bug Testers, apply for a discount ablrate ?? or is it complementary? I may be miss remembering or simply making stuff up (I am equally adept at both), but seem to recall a commitment from ablrate that no fee would be payable by ablrate lenders for trading ablrate loans. This being exactly as it should be considering most were content with the former secondary market.It would seem reasonable to charge for trading on other platforms loans should one feel inclined. I DO HOPE that your assessment of this, is TOTALLY CORRECT.
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Post by ablrate on Jul 2, 2021 9:14:28 GMT
I may be miss remembering or simply making stuff up (I am equally adept at both), but seem to recall a commitment from ablrate that no fee would be payable by ablrate lenders for trading ablrate loans. This being exactly as it should be considering most were content with the former secondary market.It would seem reasonable to charge for trading on other platforms loans should one feel inclined. I DO HOPE that your assessment of this, is TOTALLY CORRECT. There will be a charge at some stage, as we have made clear, and that will be 0.25% either side of the trade, or 42p for the average trade on the LE.
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Post by Badly Drawn Stickman on Jul 2, 2021 9:19:18 GMT
I DO HOPE that your assessment of this, is TOTALLY CORRECT. There will be a charge at some stage, as we have made clear, and that will be 0.25% either side of the trade, or 42p for the average trade on the LE. I predict a riot.
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blender
Member of DD Central
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Post by blender on Jul 2, 2021 10:45:56 GMT
There will be a charge at some stage, as we have made clear, and that will be 0.25% either side of the trade, or 42p for the average trade on the LE. I predict a riot. The intention stated long ago was not a commitment. From the FAQ: 'Lenders Fees Account Fees – There are no fees associated with opening or maintaining an account with Ablrate. [weasel words exclude exit fees, or transferring your ISA out?] Loan Exchange Fees – There is a fee of 0.25% of the value of the trade for a seller and a buyer. At this time Ablrate absorbs that fee, so there is currently no charge for buying and selling on the Ablrate Loan Exchange. Loan Fees – all loan monitoring fees are paid by the borrower.'What troubles me about this is that there is no distinction explained between Ablrate and ASMX, which provides a secondary market for Ablrate under contract, and which charges Ablrate the fee that is currently absorbed. What is 'Ablrate Loan Exchange'? Ablrate has no secondary market itself now - why not explain the contractual relationship with ASMX, not proud of it? More worryingly, does Ablrate make any guarantee about the continued availability of an SM? Liquidity is very important, at least to me, and without an SM I am out.
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Post by ablrate on Jul 2, 2021 11:27:20 GMT
The intention stated long ago was not a commitment. From the FAQ: 'Lenders Fees Account Fees – There are no fees associated with opening or maintaining an account with Ablrate. [weasel words exclude closing, or transferring your ISA out?] Loan Exchange Fees – There is a fee of 0.25% of the value of the trade for a seller and a buyer. At this time Ablrate absorbs that fee, so there is currently no charge for buying and selling on the Ablrate Loan Exchange. Loan Fees – all loan monitoring fees are paid by the borrower.'What troubles me about this is that there is no distinction explained between Ablrate and ASMX, which provides a secondary market for Ablrate under contract, and which charges the fee that is currently absorbed. What is 'Ablrate Loan Exchange'? Ablrate has no secondary market itself now - why not explain the contractual relationship with ASMX, not proud of it? More worryingly, does Ablrate make any guarantee about the continued availability of an SM? Liquidity is very important, at least to me, and without an SM I am out. 1. There are no fees for opening or maintaining an account. We pass on the charges we are charged when you transfer out. What would be the commercial sense in absorbing a fee for you to take your money elsewhere? We already pay £4k per month to our providers which we could pass on to IFISA holders, but we don't because that makes commercial sense, absorbing costs when money is leaving makes zero sense. 2. Clause 8.9.3 onwards explains the relationship and we are very proud of it, having now traded £11.1 million and 90,000+ trades we are pretty chuffed that it is going rather well and when you see what is coming, you might not be so neg... 3. We have never made a guarantee about a continued Loan Exchange, guarantees only come with toasters these days, but if I was a betting man I would suggest that as we have been at the cutting edge of secondary market development for many years, there is a fair to middling chance of us providing a secondary market until the end of time (or until we are not allowed to). I will just say this. We have something coming that involves the ASMX tech but fundamentally changes how P2P is done, for the better. It is not really news, we have been telling people for years what our vision for the industry is and other platforms have now started to parrot similar things (as they go into another fund raising cycle). I suspect this will now set off some wild speculation and when we do announce there will be much gnashing of teeth etc, but we have been quietly working on something we feel solves many of the problems in the industry from the regulators point of view and that of lenders.
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Post by Badly Drawn Stickman on Jul 2, 2021 12:17:15 GMT
The intention stated long ago was not a commitment. From the FAQ: 'Lenders Fees Account Fees – There are no fees associated with opening or maintaining an account with Ablrate. [weasel words exclude closing, or transferring your ISA out?] Loan Exchange Fees – There is a fee of 0.25% of the value of the trade for a seller and a buyer. At this time Ablrate absorbs that fee, so there is currently no charge for buying and selling on the Ablrate Loan Exchange. Loan Fees – all loan monitoring fees are paid by the borrower.'What troubles me about this is that there is no distinction explained between Ablrate and ASMX, which provides a secondary market for Ablrate under contract, and which charges the fee that is currently absorbed. What is 'Ablrate Loan Exchange'? Ablrate has no secondary market itself now - why not explain the contractual relationship with ASMX, not proud of it? More worryingly, does Ablrate make any guarantee about the continued availability of an SM? Liquidity is very important, at least to me, and without an SM I am out. 1. There are no fees for opening or maintaining an account. We pass on the charges we are charged when you transfer out. What would be the commercial sense in absorbing a fee for you to take your money elsewhere? We already pay £4k per month to our providers which we could pass on to IFISA holders, but we don't because that makes commercial sense, absorbing costs when money is leaving makes zero sense. 2. Clause 8.9.3 onwards explains the relationship and we are very proud of it, having now traded £11.1 million and 90,000+ trades we are pretty chuffed that it is going rather well and when you see what is coming, you might not be so neg... 3. We have never made a guarantee about a continued Loan Exchange, guarantees only come with toasters these days, but if I was a betting man I would suggest that as we have been at the cutting edge of secondary market development for many years, there is a fair to middling chance of us providing a secondary market until the end of time (or until we are not allowed to). I will just say this. We have something coming that involves the ASMX tech but fundamentally changes how P2P is done, for the better. It is not really news, we have been telling people for years what our vision for the industry is and other platforms have now started to parrot similar things (as they go into another fund raising cycle). I suspect this will now set off some wild speculation and when we do announce there will be much gnashing of teeth etc, but we have been quietly working on something we feel solves many of the problems in the industry from the regulators point of view and that of lenders. I still predict a riot. Could we at least get a commitment to a period of notice (two months) before the hefty fee is applied? 0.5% would represent a decent annual return on money for some people currently.
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Post by ablrate on Jul 2, 2021 13:05:17 GMT
1. There are no fees for opening or maintaining an account. We pass on the charges we are charged when you transfer out. What would be the commercial sense in absorbing a fee for you to take your money elsewhere? We already pay £4k per month to our providers which we could pass on to IFISA holders, but we don't because that makes commercial sense, absorbing costs when money is leaving makes zero sense. 2. Clause 8.9.3 onwards explains the relationship and we are very proud of it, having now traded £11.1 million and 90,000+ trades we are pretty chuffed that it is going rather well and when you see what is coming, you might not be so neg... 3. We have never made a guarantee about a continued Loan Exchange, guarantees only come with toasters these days, but if I was a betting man I would suggest that as we have been at the cutting edge of secondary market development for many years, there is a fair to middling chance of us providing a secondary market until the end of time (or until we are not allowed to). I will just say this. We have something coming that involves the ASMX tech but fundamentally changes how P2P is done, for the better. It is not really news, we have been telling people for years what our vision for the industry is and other platforms have now started to parrot similar things (as they go into another fund raising cycle). I suspect this will now set off some wild speculation and when we do announce there will be much gnashing of teeth etc, but we have been quietly working on something we feel solves many of the problems in the industry from the regulators point of view and that of lenders. I still predict a riot. Could we at least get a commitment to a period of notice (two months) before the hefty fee is applied? 0.5% would represent a decent annual return on money for some people currently. It is 0.25% or 42p on the average trade of £168, and yes, of course we will give a warning.
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Post by Badly Drawn Stickman on Jul 2, 2021 13:30:57 GMT
I still predict a riot. Could we at least get a commitment to a period of notice (two months) before the hefty fee is applied? 0.5% would represent a decent annual return on money for some people currently. It is 0.25% or 42p on the average trade of £168, and yes, of course we will give a warning. If it is both sides it is 0.5% to you or 84p in the kitty. Arguably making most current trades a negative venture for everybody else.
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