Has anyone seen the rationale for this, what seems to me, arbitrary policy? I seem to recall a vague reference to “protecting customers” in the original announcement, but in my case it is doing more harm than good. around the time of the introduction, I had large holdings in at least 3 of the affected instruments. If I sold them at the time, each would have lost 20-40% from memory, so I held on to them.
Normally, when I have stock that is losing 10% or over, I buy in during the troughs and sell a quantity during the (still losing) peaks to bring down the average price paid, and that has worked quite well for me. Recently, I sold 500,000 3LRR for £700, and today tried to buy them back for £545, but the position cap prevented me from doing so. Before that, CHEK reached a price of 45c and I wanted to sell 10,000, but found the transaction limit was 610 shares. By the time I set up 10 trades of 500 shares each, the price had dropped significantly, and I sold far less than I wanted to.
I don’t see how these restriction are protecting me, they are costing me money and preventing me from reducing the average cost/share. inhibiting or delaying them from becoming profitable again.