SYME on sell only mode

Not sure why I can’t buy any. With the market orders execution already being so crappy and taking forever, now even that’s been taken away. Have I missed something? Any update on this @Tony.V @Team212

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@Bbang The instrument has been moved to a segment of the LSE which our execution intermediary does not support. Currently, no orders could be executed with it. We are exploring our options and will provide additional details within the course of next week

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Looks like somethings perhaps happening today with the restructuring - check out the drop in trade volume today:

https://www.londonstockexchange.com/stock/SYME/supply-me-capital-plc/trade-recap

Only 10 trades yesterday, and similar for today up to 15 minutes ago. Liquidity is not that great…

Some of us have put a lot of money into the business, believing it could be an amazing opportunity. It is quite scandelous that they don’t support all of the LSE whereas it is quite understandable they won’t wake a risk with US Penny Stocks.

Seems Trading 212 have a lot of problems with Penny Stocks to which they should just not provide them on their system if they keep taking these opportunities away.

I think in future Trading 212 should not provide any Penny Stocks that could potentially be moved to a segment they do not support, as this feels like a loss of confidence in your own system to not be able to support these type of changes.

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Market order execution times in these AIM stocks are horrible taking several days at times whilst the same order gets executed instantly on other platforms. This makes it harder to understand and believe when they go on about low liquidity in these stocks. Are we going to remain stuck with IB’s limitations as a platform and MMs’ limited capacity (or even lack of) to match buys/sells? We are not talking couple of minutes or even hours…several days!! Come on!

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Agree IB seem poor for non US stocks. This security in question does also have lower liquidity today/yesterday, so that’s a likely the main cause.

Similarly the liquidity on AIM is not known to be great, the access we have through 212/IB, can require us to wait and match at auction, so depends on the liquidity out there. Not this stock normally though, but again see above on liquidity today/yesterday.

I think other more expensive / European brokers, look to multiple partner brokers, and present a ‘this is the best price we can get you right now if you agree in 60 seconds’ type thing, with fees and any additional spread priced in. We get what we pay for at times and it is a bit of both.

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chart also not updating. c. 20% up today and showing no movement

SYME changed from AIM to Main Market this year. The issue is more low liquidity I believe.

I looked into it more and it seems to be changing from SSQ3 to SSX3, which I don’t see how Trading 212 cannot use this part of the market. (Ironically National Grid, Natwest and Santander use SSX3 as well with 0 issues)

I hope that they can fix this issue as it seems to be doable but it feels like IKRB might be responsible for this.

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T212 are getting quotes supplied from Bloomberg which are awful at updating the ask/bid in a timely fashion.

I’ve petitioned for them to swap liquidity providers for over a year but they aren’t budging.

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I don’t know what yesterday’s ask was but if it hasn’t changed then there won’t be a new ask to plot.

So trades could have ended on a sell at 0.25 and finished with a buy at 0.30 which is 20% change.

However if the ask ends 0.29 and still ends 0.29 then there will be 0% inside T212 charts and that would be correct as what is being asked is the same.

yeah, no. thats not the case. even though other posters have said this is really illiquid, it actually isn’t at all outwith 212

The LSE isn’t quoting today’s trade volume, but given the normal high liquidity, does look like it was suspended on the 28th and potentially today. It might also be because I check in mobile and the data is slightly limited.

So AZ has just said in his AGM syme has not changed its code. So who the hell has. Also lots of rumours now that 212 will auto sell you out. Can anyone at 212 team confirm either way.

  1. Will you force us to sell even when shares are in an ISA.

  2. Do you have any plans to make syme available to buy again. ( don’t care about the who’s whys and how’s just simply will you try to accommodate this. As many stocks you do have available are on SS3NCCP or same code as syme now is.

  3. Is this a brexit issue like with Ryanair forced sells and your onbaording of EU customers and not UK ones.( which then doesn’t compute with the we are to busy bull, if EU can create new accounts and UK can’t)

Thanks

@Team212

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We completely understand the delicacy of the subject, but we’ll only be able to share more details on the matter, in the upcoming week. We’re in contact with IBKR, at the minute, exploring every possible angle, to find the best outcome for everyone involved.

Good to hear something is being discussed.

Felt like terrible timing when it sank and we couldn’t buy more.

Hoping IKBR try to improve their services as it bottlenecks T212’s own service.

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This sounds like the TRCH- MMAT issues again.

IBKR, customers have not had any issue and have noticed no change. Yet 212 seem to always use " we are talking to IBKR to sort this "

Can I make a suggestion @Team212, on-board another broker so you at least have someone else to blame. Lol

I’m a huge fan of your service, belive it or not. But with the silence on th on boarding new UK clients. The constant blaming of IBKR. Your really setting yourselfs back. Freetrade is going to eat up market share.
You had an amazing set up,world class interface. But since Jan 2021. Its all gone quite. Even the FX fee was not an issue. Infact I’m happy you have it to support your business. But I do worry the amount of reputation damage that is happening. And the loss of customers to over apps. Im a 212 fan boy, but you need to uonyiur game or open your own clearing house.

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Where is the truth? So is it starting to block other stocks like OTC?

Well Freetrade can only blame themselves or the APIs they used. They connect direct to the exchanges.

T212 on the other hand are purely piggybacking on top of IBKRs service.

They hold a single account with IBKR and hold their own database on who owns what portion of each shares.

They use IBKRs API which then turn calls the exchanges, the messages are passed back.

Essentially its a skinned version of the same experience if me or you signed up with IBKR.

So when it comes to trading they have limited things they can do, if IBKR cocks up or adjusts the API then they can’t magically make it do something different.

They can put pressure on IBKR to sort things out, but I doubt IBRK are going to jump at one of their clients demanding things and will be done in their own time.

What T212 do have control over is making sure their interface stays up by making sure their servers/loadbalancers are doing its job.

When it comes to getting new ask/bids again they are reliant on Bloomberg. I really wish they ditch them and find another provider. Again they can’t magically make it work if it stops but put pressure on Bloomberg to fix it.

Interface/website issues == T212
Trading issues == Shout at IBKR
Quotes issues == Shout at Bloomberg

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Ibkr customers don’t have this issue. Its just 212s go to excuse lol

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I understand this but for 212 to be holding over 1 billion £€$. Only using IBKR is owned not acceptable. They should have 2 or 3 brokers like most other apps do or have. It is a shame as like I say 212s interface and ease use is second to none.

Its the " blame IBKR every time that’s something goes wrong" is wearing thin. They should make changes or add another broker.

It is a shame 212 seems to be on a downward spiral of letting customers down and blaming ibkr as an auto response.