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Post by GSV3MIaC on Jan 28, 2015 11:57:02 GMT
I was reading an article linked from the ReBS site about the canniness (or otherwise) of lenders .. some bid well well under the 'going rate' for any loan (same being true on many other platforms, like FC) .. I was wondering which, if any, platforms actually have a dynamic autobidding option, where you can place a bid for (eg) £100 at the best rate, down to a minimum of x%?
This is not rocket science to achieve (basically run a normal auction, but everyone bids their lowest rate, and then at the end everyone gets the best rate on offer). Seems more attractive/saner (except to market makers maybe) than fixed rate, or 'chase the rate down in 0.001% steps', or 'bid low and put up with the loss' or 'bid at 1 second from closing time and hope your watch is right'. 8>.
Comments? Suggestions??
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Investor
Member of DD Central
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Post by Investor on Jan 28, 2015 12:44:00 GMT
I was reading an article linked from the ReBS site about the canniness (or otherwise) of lenders .. some bid well well under the 'going rate' for any loan (same being true on many other platforms, like FC) .. I was wondering which, if any, platforms actually have a dynamic autobidding option, where you can place a bid for (eg) £100 at the best rate, down to a minimum of x%? This is not rocket science to achieve (basically run a normal auction, but everyone bids their lowest rate, and then at the end everyone gets the best rate on offer). Seems more attractive/saner (except to market makers maybe) than fixed rate, or 'chase the rate down in 0.001% steps', or 'bid low and put up with the loss' or 'bid at 1 second from closing time and hope your watch is right'. 8>. Comments? Suggestions?? Only one I know of is ablrate. Their Dynamic Bidding system allows you to set your floor rate, sit back, enjoy a G&T and chill out. The system will bid down to your set rate in increments of 0.25%. Video showing the process is on the website at Ablrate Dynamic Bidding. Should point out that so far, due I would guest to the supply rate, all loans to date have been filled with fixed auction type loans and to my knowledge the dynamic bidding system has not yet been used. I assume it is set up and ready for when the loan flow increases and the supply/demand ratio changes. There is also a nice touch to allow full or partial bids. Assuming you invest 10k and when the auction reaches the end you get stuck in no-man's land with 6k available at your rate, this allows you to select whether you would then wish the system to bid the 6K and return the 4K to your holding account, or 'skip' the auction at which point it will move onto the next lender bid. Certainly think it is an excellent idea to have the 'Bot' working on the platform, for all lenders, rather than the bot wars than go on with other platforms. Hopefully someone from ablrate will confirm this is all correct otherwise I will review/delete.
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Post by tybalt on Jan 28, 2015 14:08:38 GMT
On other than fixed rate offerings ThinCats allows this on both the primary and secondary markets. I small but significant number of investors do not seem able to access it but never the less it does work.
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Post by ablrate on Jan 29, 2015 10:15:09 GMT
I was reading an article linked from the ReBS site about the canniness (or otherwise) of lenders .. some bid well well under the 'going rate' for any loan (same being true on many other platforms, like FC) .. I was wondering which, if any, platforms actually have a dynamic autobidding option, where you can place a bid for (eg) £100 at the best rate, down to a minimum of x%? This is not rocket science to achieve (basically run a normal auction, but everyone bids their lowest rate, and then at the end everyone gets the best rate on offer). Seems more attractive/saner (except to market makers maybe) than fixed rate, or 'chase the rate down in 0.001% steps', or 'bid low and put up with the loss' or 'bid at 1 second from closing time and hope your watch is right'. 8>. Comments? Suggestions?? Only one I know of is ablrate. Their Dynamic Bidding system allows you to set your floor rate, sit back, enjoy a G&T and chill out. The system will bid down to your set rate in increments of 0.25%. Video showing the process is on the website at Ablrate Dynamic Bidding. Should point out that so far, due I would guest to the supply rate, all loans to date have been filled with fixed auction type loans and to my knowledge the dynamic bidding system has not yet been used. I assume it is set up and ready for when the loan flow increases and the supply/demand ratio changes. There is also a nice touch to allow full or partial bids. Assuming you invest 10k and when the auction reaches the end you get stuck in no-man's land with 6k available at your rate, this allows you to select whether you would then wish the system to bid the 6K and return the 4K to your holding account, or 'skip' the auction at which point it will move onto the next lender bid. Certainly think it is an excellent idea to have the 'Bot' working on the platform, for all lenders, rather than the bot wars than go on with other platforms. Hopefully someone from ablrate will confirm this is all correct otherwise I will review/delete. Hi Investor You are right in the operation of that system and with the new platform we have built on that so that you may enjoy further G & Ts. Its a little early to go into too much detail as the coding started today but the dynamic bidding tool is getting a steroid injection... We are actually looking for a new name for it as 'Dynamic Bidding' seems a bit weak for what it will be able to do.... I personally want it to have a name like 'Thor' or 'Optimus Prime'... but I think I will be outvoted... any suggestions welcome! Regards Ablrate
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Jan 29, 2015 11:04:57 GMT
Hi ablrate: How about "The Fifth Horseman of the Apocalypse"  |
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Post by ablrate on Jan 29, 2015 14:41:45 GMT
Hi ablrate: How about "The Fifth Horseman of the Apocalypse" Hi jonno Sounds like you are on my team..... we may get shouted down Regards Ablrate
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Post by ablrateandy on Jan 29, 2015 14:42:46 GMT
Napoleon Bidforparts.
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Investor
Member of DD Central
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Post by Investor on Jan 29, 2015 17:17:26 GMT
Personal Reactive Auction Timing Tool.
May seem a little long-winded so will have to look into a suitable acronym.
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Post by GSV3MIaC on Jan 30, 2015 10:01:18 GMT
Hmm, if it does what was described on the ablrate board, then 'Bidfair' or 'Fairbid' seems appropriate. 8>.
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Post by ablrate on Jan 31, 2015 17:15:03 GMT
Napoleon Bidforparts... hmmm... thanks Andy... back to the spreadsheets me thinks...
BidFair - FairBid.. I like where that is going..
Regards
Ablrate
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,808
Likes: 3,242
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Post by jonno on Jan 31, 2015 17:25:27 GMT
Napoleon Bidforparts... hmmm... thanks Andy... back to the spreadsheets me thinks... BidFair - FairBid.. I like where that is going.. Regards Ablrate How about: "Fairbidden Fruit"?
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Post by oldnick on Jan 31, 2015 20:30:27 GMT
I'm officially declaring this as an outbreak of the Dadjoke virus.
Stay calm! - if ignored it usually goes away of its own accord.
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Post by uncletone on Jan 31, 2015 20:34:16 GMT
I've always liked "Ermyntrude" as a name....
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