Each day I notice numerous requests for new instruments. Some appear to think that adding a stock/ETF to the investment universe must be as easy as flicking a light switch. I suspect it is more difficult. It would be interesting to learn what is actually required. We know that for the moment the team is focused on the autoinvest beta and making more stocks available as fractional.
If someone from Trading 212 has the time, then it would be interesting to read a couple paragraphs describing the process and work that is required from the Trading 212 team to bring a new instrument onto the platform. Is this a matter of 1 minute’s work per instrument, or something more?
I don’t have an answer but just to give you an idea on how long it takes, back in January it took two days for EQQQ to be added when I requested it on this forum. (if you search you can find thread) Recently it seems every request is just ignored so the priority for the team is elsewhere is all I can assume, that’s why I was agreeing with someone who said the add new stocks thread might as well be locked/removed.
I think @David already answered this question in another post. He said at the moment they are concentrating on making ALL the current stocks fractional in order to enhance the functionality of pies. This is pegged for completion by the end of August. However, from time to time when a stock is highly requested they are adding them here and there.
Most of the comments here misunderstand my original question. The question is not about how long it is taking presently to add investments, or whether this is even happening, or how it should be prioritised vs other work. That has been discussed many times already.
If you read, my question, you should see it is one of curiosity about what work is required to add an instrument when doing so. What has to happen? Are there regulatory checks to make? How labour intensive is it? Suppose someone devoted a whole hour to the activity. How many instruments could be realistically added during that hour? Just curious. I thought that perhaps if the community were to better understand the labour involved then it would engender greater patience amongst users, and even some self-censorship in asking for latest penny stock discussed on social media.
me thinks they are slowly but surely ploughing through the requests. mine didn’t happen when i needed them but they did eventually. and human nature says if you don’t get what you want when you want, then a tantrum follows and the value of when you actually get it decreases significantly.
Apologies for the misunderstanding. The process is quite straightforward actually. As long as the stock is available on an exchange that T212 has access to it is a simple process for them. However, since there is a cost involved, I think as long as there is enough demand then it will be prioritised.
What does that mean? Might it take only 10 minutes’ work to add 500 new instruments? Is a monetary cost involved per additon? Why?
Thanks for trying, but I think only someone working for Trading 212 can correctly answer my question. I suspect that there is more to the addition of an instrument than most people appreciate. We already know that making stocks fractional is labour intensive since capacity to do this is running at only 250 per week.
I wonder if it’s just configuration of an end point in the back office, and the difficulty is making sure it’s the correct end point and that the instrument is compliant with all the regulation? Or if there’s more to it than that, which would explain why it takes longer when their focus is elsewhere.
There’s always more than meets the eye. When adding a stock you have to take into account everything that’s involved in the process. Corporate actions, logos, search bar industry/sector categorization, compliance checks, data feed checks, etc…
Also, depends on the instrument. US stocks are generally the quickest, due to configurations being slightly simpler. While ETFs, for example, are the most time-consuming.
P.S. The goal of 10,000 securities by year-end is still on the table.
FinKi has helped other platforms with back office data requirements.
isin, sedol, exhange, ISA-eligibility, logos, market maker coverage, volume and liquidity tests, logos, competitor stock universe analysis, corporate actions upcoming (to make sure you don’t immediately hit a stock split or delisting for example), upcoming dividends, factsheets, KIIDs, Costs and Charges Disclosures etc…etc… to aid the “stock setup” pain and bottleneck
Thank you. That is helpful to know and explains why when users submit lists of 20 obscure penny stocks they are unlikely to be added with any high priority.
Does anyone one understand how one bookmarks a post on this forum? I see that I can create a bookmark that will notify me to check back at a future date. I would like to be able to save or bookmark permanently a collection of favourite posts that address frequently arising topics.
I think in the case of penny stocks it is incredibly high on this forum, because these are usually extremely time sensitive requests made in a last ditch effort.
By the time they get added on here most of the time the hype is long past and these pennies end up forgotten.
It is still good to request them though, as more is more in this case
And just to clarify, these are all meant for swing trading not investing