SteveT
Member of DD Central
Posts: 6,875 
Likes: 7,924
|
Post by SteveT on Dec 3, 2015 11:02:39 GMT
I have all my Invest instructions at par. But if I understand it correctly if someone sells with discount I still will have it applied and not pay par? Correct
|
|
bg
Member of DD Central
Posts: 1,368
Likes: 1,929
|
Post by bg on Dec 3, 2015 12:41:26 GMT
I have all my Invest instructions at par. But if I understand it correctly if someone sells with discount I still will have it applied and not pay par? Correct That's not a situation thats likely to arise however. People will only sell at a discount if people are selling already at par.
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Dec 3, 2015 12:42:55 GMT
That's not a situation thats likely to arise however. People will only sell at a discount if people are selling already at par. It does happen, remarkably. I've picked up several (small) pieces of shrapnel offered with totally needless discounts in loans that never have units available.
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Dec 3, 2015 13:05:50 GMT
That's not a situation thats likely to arise however. People will only sell at a discount if people are selling already at par. It does happen, remarkably. I've picked up several (small) pieces of shrapnel offered with totally needless discounts in loans that never have units available. Two possible reasons that have occurred to me (although this is speculation, for the real reasons, you or AC would need to ask the people who did it): 1. Some sellers may assume that it works the same as almost every other similarly-structured marketplace in the world, giving you the best order already on the orderbook if you place a "crossing" order. 2. Some sellers may have been accustomed to the old AC system that processed sales within a few seconds, and assume when their loan units didn't sell at par within a couple of minutes that this indicates there was no demand at par (or at the previously-selected discount level). Current AC systems seem to take in the region of 10-15 minutes to process a sale.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Dec 3, 2015 15:57:49 GMT
Current AC systems seem to take in the region of 10-15 minutes to process a sale. My experience is that the first sale I request generally happens in a minute or so -- presuming there are unfilled buy instructions around. But if I put in another sell request -- either for more of the same loan or for a different loan -- shortly after that it takes, as sl75 said, 10-15 minutes before it's acted upon. It's almost as if the system is preventing an account from executing a number of sell instructions in a short space of time.
|
|
|
|
Post by chris on Dec 3, 2015 17:55:05 GMT
Current AC systems seem to take in the region of 10-15 minutes to process a sale. My experience is that the first sale I request generally happens in a minute or so -- presuming there are unfilled buy instructions around. But if I put in another sell request -- either for more of the same loan or for a different loan -- shortly after that it takes, as sl75 said, 10-15 minutes before it's acted upon. It's almost as if the system is preventing an account from executing a number of sell instructions in a short space of time. It processes sales as quickly as it can in the order they're requested, but once your first purchase has occurred that tends to trigger other buy orders set by the seller that then has a cascade effect. It takes a few minutes for the system to cycle back round to either being idle or processing the next request to come in.
|
|
