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Post by GSV3MIaC on Jul 26, 2015 13:53:49 GMT
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registerme
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Post by registerme on Jul 27, 2015 7:06:50 GMT
You'd think they could have told me about "autobid functioning in the secondary market" issues during my tortuous discussions with them about autobid functionality and the secondary market :/.
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mv
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Post by mv on Jul 27, 2015 10:48:30 GMT
They say that the auto-buy functionality has improved. I have to say, the thing that has finally got my parts shifting at par is listing them all one at a time rather than ticking the list. Presumably the know well recognised glitch of parts for sale not being visible to other users on the SM also affects auto-bid too...
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SteveT
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Post by SteveT on Aug 4, 2015 14:19:32 GMT
Announcement posted earlier by Becky in the other place:
"Just a quick note to say we’re updating an old setting which determines how much of each loan can be filled by Autobid at the minimum bid rate.
Until now, up to half of each new loan has been available to Autobid users at the minimum bid rate. This setting was introduced more than 2 years ago when we introduced Minimum Bid Rates.
More funds than ever are now being lent through Autobid so we’re increasing this to 65%, to help us manage liquidity on the platform and ensure loans fund.
If the level changes again we’ll keep you updated here, and if you have any questions please don’t hesitate to get in touch."
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Post by GSV3MIaC on Aug 4, 2015 15:13:02 GMT
Won't help autobid users get an Es though.
I still think they ought apply all the autobids before they release the loan to the general platform for manual (or bot) bidding. That'd partly compensate for the lousy deal autobuy otherwise offers.
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coop
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Post by coop on Aug 4, 2015 15:15:33 GMT
Announcement posted earlier by Becky in the other place: "Just a quick note to say we’re updating an old setting which determines how much of each loan can be filled by Autobid at the minimum bid rate. Until now, up to half of each new loan has been available to Autobid users at the minimum bid rate. This setting was introduced more than 2 years ago when we introduced Minimum Bid Rates. More funds than ever are now being lent through Autobid so we’re increasing this to 65%, to help us manage liquidity on the platform and ensure loans fund. If the level changes again we’ll keep you updated here, and if you have any questions please don’t hesitate to get in touch." When in recent history has a variable rate loan not been fully funded?
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registerme
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Post by registerme on Aug 4, 2015 15:46:44 GMT
"More funds than ever are now being funded through autobid so we're increasing this to 65%....".
So I interpret that as meaning they'll be less loan availability to fund "manually", but that perhaps there's more opportunity to offload unwanted loan parts on the SM to autobid. Thoughts?
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blender
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Post by blender on Aug 4, 2015 15:56:18 GMT
Autobid for the consumer lender was always the main target of FC, and it probably reflects a greater portion of cash on the partial board coming from Autobid users. Not very significant imo.
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sl75
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Post by sl75 on Aug 4, 2015 16:28:53 GMT
"More funds than ever are now being funded through autobid so we're increasing this to 65%....". So I interpret that as meaning they'll be less loan availability to fund "manually", but that perhaps there's more opportunity to offload unwanted loan parts on the SM to autobid. Thoughts? I'd taken the 50% limit to be for bids in the original auction (so increasing it to 65% allows more autobid funds to be tied up in primary market bids, and thus LESS available for the secondary market - at least if it prioritises the primary market). However, perhaps the limit remains enforced for the secondary market too, as you appear to suggest - i.e. autobid would not buy on the secondary market if the collective holdings of all autobid users in that loan exceeded 50% (now 65%)... in which case it would, in the short term, allow for a huge increase in secondary market demand, as another 15% of all historic loans potentially becomes available to autobid users.
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registerme
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Post by registerme on Aug 4, 2015 16:38:36 GMT
hmmm, the "help us manage liquidity on the platform" comment implies, at least to me, more autobid action in the SM. I don't see how reducing autobid action in the SM could increase liquidity. Now, increasing liquidity isn't actually what the comment says, but could you "help manage liquidity" by reducing it?
Or maybe they are using liquidity to describe the primary market? That, to me, would seem odd.
/scratches head.
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SteveT
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Post by SteveT on Aug 4, 2015 16:41:21 GMT
hmmm, the "help us manage liquidity on the platform" comment implies, at least to me, more autobid action in the SM. I don't see how reducing autobid action in the SM could increase liquidity. Now, increasing liquidity isn't actually what the comment says, but could you "help manage liquidity" by reducing it? Or maybe they are using liquidity to describe the primary market? That, to me, would seem odd. /scratches head. It's all about the PM, allowing a greater portion of new loan auctions to be taken up by Autobidders at MBR.
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registerme
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Post by registerme on Aug 4, 2015 16:53:47 GMT
Well that's  then. |
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blender
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Post by blender on Aug 4, 2015 16:54:34 GMT
"More funds than ever are now being funded through autobid so we're increasing this to 65%....". So I interpret that as meaning they'll be less loan availability to fund "manually", but that perhaps there's more opportunity to offload unwanted loan parts on the SM to autobid. Thoughts? I'd taken the 50% limit to be for bids in the original auction (so increasing it to 65% allows more autobid funds to be tied up in primary market bids, and thus LESS available for the secondary market - at least if it prioritises the primary market). However, perhaps the limit remains enforced for the secondary market too, as you appear to suggest - i.e. autobid would not buy on the secondary market if the collective holdings of all autobid users in that loan exceeded 50% (now 65%)... in which case it would, in the short term, allow for a huge increase in secondary market demand, as another 15% of all historic loans potentially becomes available to autobid users. I am sure you are right that the 50% refers to purchases through Autobid on the primary market. It would not be sensible to tag a loan part with having been bought by autobid at MBR (and only at MBR) and then to keep a running account of all changes - sales of such parts to manual purchasres and purchases of all all parts on the SM by Autobid at the historical MBR applying at the time of the auction - so as to keep a check on the total percentages of the reducing total capital. I would not wish to see FCIT attempting to introduce that to the platform.
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registerme
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Post by registerme on Aug 4, 2015 17:02:29 GMT
I'm not really feeling the love from FC right now.
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sl75
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Post by sl75 on Aug 4, 2015 17:32:02 GMT
It would not be sensible to tag a loan part with having been bought by autobid at MBR (and only at MBR) and then to keep a running account of all changes - sales of such parts to manual purchasres and purchases of all all parts on the SM by Autobid at the historical MBR applying at the time of the auction - so as to keep a check on the total percentages of the reducing total capital. Whether it is "sensible" or not would depend on what it was that FC wished to achieve by having the 50% (now 65%) quota. However, Becky's comment seems to support my original assumption, as it refers to 50%/65% "of each new loan". As MBR is rarely relevant on variable-rate auctions, I'd concur with pepperpot's suggestion that this is probably primarily directed at the fixed-rate property loans.
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then.