DatChat Halt Compensation

DatChat has been halted but become live on other platforms . While it is still stuck on trading 212. This is losing clients money ! And should trading 212 not compensate clients for this kind of glitch in their system?

@David @Team212 @B.E @Team212

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Would also like to know what is going on here, I want my sell order to execute before close

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What is going on with DATS? Ever since it was halted the sell price has been stuck at $9.17? We cannot buy or sell whilst every other platform is thriving… no response on twitter from a horde of angry users, will we get a response here?

So we’re just forced to hold? Despite trying to actively sell since the halt 1.5 hours ago? I don’t care that it has gone up since then, I care that I am not in control of my funds with this broker.

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Hey there :wave:

We are checking the matter as we speak.

Will keep you posted.

I have a feeling we were frozen out because our shares were lended out to shorts…

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I hope it squeezes! Has the potential to be AMC 2.0 or GME 2.0!

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How do I view if trading 212 is lending my shares to shorts to borrow? Where do I have to go on the app to see / turn off the option?

@Hris.M @Team212 @David @B.E

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Scroll down to the bottom of your holding on the app. Having shares ‘out on loan’ does not impact your ability to sell. Only if the exchange or IB have suspended trading limits this.

It has been over 11 hours since @Hris.M wrote we are checking as we speak. And no update has yet been provided? Has trading 212 not found what the cause is?

Or are they purposely taking time to come up with an excuse ? That hey it’s not our fault therefore we are not liable.

Let me help with a draft response. “We are sorry for losing clients money due to internal technical issue’… maybe that would be a good start?

@Team212 @David @B.E @Rumen @George

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Maybe it’s because you’re being so aggressive and accusatory. How about you stop being a demeaning investing Karen and let Hris do his job.

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Could you even call it investing , sounds like they have zero belief in the long term potential of this company.

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Typically the people that moan about this sort of thing are ‘traders’ (>cough<P&D followers>cough<), so the feed is crucial.

But that’s no license to suck all the joy out of the room with posts like :point_up_2:t2:

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Interesting that ‘traders’ are being attacked . So does that mean momentum traders should not be using platforms like trading 212? Because we are to be faced with technical glitches/issues eg like with $DATS?

Instead of solving the underlying issues: we have saints posting about investing . There’s not one way of making money in trading folks.

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Hello @MohammedS,

The trading halt is a force majeure event surrounded by a significant increase in volatility and rapid changes in the liquidity levels. Trading was briefly disabled due to its nature and the uncertainty accompanying the trading halt.

Rest assured, trading will commence as of regular upon market open.

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I bought into DATS because of the heavy short position. When I bought shares Trading 212 informed me in their securities lending section that 100% of my shares were loaned out.

This excited me because it confirmed the scarcity of shares that I was hoping for. I’m assuming the brokerage backing them must be holding a big short position too.

I set a limit Order for $20 to try prevent my personal shares from being loaned out (Not sure what good it does).

When the stock SUDDENLY fell just before power hour, I was under the impression it was a short ladder attack IE market manipulation by desperate shorts.

So I was going to hold regardless (Not panic sell). I think noticed that the share price was recovering but trading 212 was frozen.

Unlike everyone else here I was actually overjoyed at the blaytent f*¢kery because I was imagining that trading has been halted by the brokerage supplying Trading 212 their shares. Much like when they stopped buy orders on GameStop back in March.

I get the frustration about not having a say over your own money atm but to be fair it seems to have only affected this high speculative company that retail investors are attempting to Gamma/short squeeze.

So I’m actually delighted such blaytent manipulation is going on. If anything Its confirmation of Gamma Squeeze potential.

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I feel like the term gamma squeeze is being thrown around a bit much these days. Especially given it’s only ever happened twice (?); Volkswagen and Gamestop.

Doesn’t a gamma squeeze only occur if the short interest of a stock is over 100%?

The short interest on DATS is 56%. That isn’t a gamma squeeze, that’s your run of the mill short squeeze (potentially).

Not saying it to be pedantic - saying it to maybe help manage expectations of how high you expect the squeeze to go and manage your exit strategy accordingly. :+1:t2:

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The approach taken by trading 212 is a big risk to day traders / momentum traders. You technically are forcing clients to hold a stock overnight . Therefore, the potential loss could be much bigger.

Does that mean traders are better off in a different platform that does not disable the function to buy or sell shares?

What I fail to understand is why other brokers did not apply the same approach like trading 212 in that disabling trading ?

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We are not aiming to avert day traders/momentum traders from the Invest/ISA platform. Quite the contrary - we are constantly expanding our 10 000+ instrument portfolio to make the financial markets more and more accessible to all kinds of traders/investors.

Given the volatile nature of the contemporary markets, it is not uncommon for stocks to be halted from trading on the regulated market. We are strictly monitoring the price feeds after such halts, and we are doing our best to ensure that the processes correspond to our best execution obligations.

After the trading halt of DatChat, the instrument in question underwent an extensive risk management check. In this case, the check affected the execution in the last hour of the trading session.

While we’re not able to discuss other broker’s practices during force majeure events, we can assure you that we’re actively working on improving the processes for any future events and we will continue to strive to provide the clients with as much freedom according to the regulations and the best execution policy obligations.

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