Halifax Share Dealing SPEED

ValiantSon

Alexland wrote: »

If I was investing regularly with HSD then the £2 per trade is fairly attractive.

Fair enough, although it is only available on set days, so you don't have control over when you buy.

If the OP bought funds fewer than 5 times a year iWeb would win out.

Audaxer

EdSwippet wrote: »

That shouldn't be the case if you placed your order well before the Valuation Point.

I have found that some fund groups can be slower to update the platform than others. I use iWeb, and when I buy or sell one of HSBC's tracker funds, the transaction always shows up as executed with a known price the next day.

If I do the same with a Vanguard tracker fund it is normally the day after next before that trade shows up as executed. However, the price on the Vanguard trade, when it does finally appear on the platform, is always the right one for the day on which I placed the order, and not some later one.

The last order I placed with HSD was for a Vanguard fund at 9:30am on 22 November, but the price I got was the price at the end of 24 November. Also, when I look at my portfolio on HSD, the prices are always a day out of date.

ValiantSon

Audaxer wrote: »

The last order I placed with HSD was for a Vanguard fund at 9:30am on 22 November, but the price I got was the price at the end of 24 November. Also, when I look at my portfolio on HSD, the prices are always a day out of date.

That's exactly what is meant to happen.

bowlhead99

Audaxer wrote: »

The last order I placed with HSD was for a Vanguard fund at 9:30am on 22 November, but the price I got was the price at the end of 24 November. Also, when I look at my portfolio on HSD, the prices are always a day out of date.

Sounds about right. Assuming Lifestrategy for example:

If you give HSD an order at 9.30am tomorrow (Wednesday), they will package that up with the other orders they receive from other people that morning before 11.15am and make sure it's with the fund manager by 12 noon that day. (per Coryls quote above).

However, the Vanguard fund manager is not going to immediately do anything with the pile of orders they receive at 12 noon Wednesday. Their cut-off for subscription and redemption requests is 10am. So, orders they get at 12 noon Wednesday will make the cut-off for 10am Thursday but will not make the cut-off for 10am Wednesday. So it's the Thursday pricing/valuation point that you'll catch.

The valuation point of the fund on Thursday is 9pm UK time (i.e. not until the US market closes at 4pm New York). In order for them to know what the fund was worth in terms of £ per unit at 9pm UK on Thursday, the accountants / fund administrators have to pull together all the information about the underlying asset values for all the constituent funds which are all contingent on knowing what the shares and bonds were valued at, at 9pm Thursday. Practically speaking nobody is going to be able to do that by 9.01pm Thursday. They will work out the pricing and announce it during Friday.

So, your order being made by you at 9.30am Wednesday 22 Novermber will get the 9pm Thursday price. That price won't be the price showing on a Halifax or Vanguard website at any time on Thursday because they won't know the Thursday price during Thursday, only the next day, after they've worked it out. They will only publish that price and generate your contract note during Friday 24 November.

sham63

I have a regular monthly investment set up with HSD for VLS60 on 21st each month (so, last Wednesday)

Took until Monday for the confirmation email and fund to show in my account.

Audaxer

ValiantSon wrote: »

That's exactly what is meant to happen.

When I look at my HSD account today it shows the VLS fund value as at 23 February, whereas the latest value that should be showing is yesterday's value, 26 February, so it is a day out of date.

bowlhead99

Audaxer wrote: »

ValiantSon wrote: »

That's exactly what is meant to happen.

When I look at my HSD account today it shows the VLS fund value as at 23 February, whereas the latest value that should be showing is yesterday's value, 26 February, so it is a day out of date.

He was probably referring to the other bit of your post where you said you were getting a price on Friday for the order placed Wednesday.

If you go to the Funds Centre on the Halifax site and flick through the funds list, you get the latest price showing (e.g. LS100 Acc is showing £205.01 for 26/2/18 which is consistent with Vanguard's own site). If they are using a previous price within the actual portfolio review tool, maybe the feed which feeds that one is subject to a delay because it's a different system rather than the 'powered by Digital Look' front end of the Funds Centre. Probably they have some caveats somewhere saying pricing is on a best efforts basis.

Still, you are not goint to get the price of 205.01 if you were to sell now anyway, and if you want to buy more instead you'll not get that either. It moved by a whole percent yesterday for example, up from the previous price, so over two business days for a trade to go through (9am one day order point to 9pm next day valuation point) you could be out by a couple of percent or more. Think of it more as a 'guide' to what it's been worth this week.

coyrls

sham63 wrote: »

I have a regular monthly investment set up with HSD for VLS60 on 21st each month (so, last Wednesday)

Took until Monday for the confirmation email and fund to show in my account.

When the confirmation email arrives and the fund shows in your account is another matter. If you are interested in when the actual transaction took place, you can find that in the Trade Confirmation associated with the transaction.

Audaxer

bowlhead99 wrote: »

He was probably referring to the other bit of your post where you said you were getting a price on Friday for the order placed Wednesday.

If you go to the Funds Centre on the Halifax site and flick through the funds list, you get the latest price showing (e.g. LS100 Acc is showing £205.01 for 26/2/18 which is consistent with Vanguard's own site). If they are using a previous price within the actual portfolio review tool, maybe the feed which feeds that one is subject to a delay because it's a different system rather than the 'powered by Digital Look' front end of the Funds Centre. Probably they have some caveats somewhere saying pricing is on a best efforts basis.

Still, you are not goint to get the price of 205.01 if you were to sell now anyway, and if you want to buy more instead you'll not get that either. It moved by a whole percent yesterday for example, up from the previous price, so over two business days for a trade to go through (9am one day order point to 9pm next day valuation point) you could be out by a couple of percent or more. Think of it more as a 'guide' to what it's been worth this week.

Thanks. When I want to know the current price of my VLS funds I just look at the price on HL as I know my portfolio on HSD is a day out of date.

Whereas when I look at my AJ Bell ISA, the prices on my funds there are up-to-date and any orders I make to purchase funds go through quicker than with HSD.

bowlhead99

Audaxer wrote: »

Thanks. When I want to know the current price of my VLS funds I just look at the price on HL as I know my portfolio on HSD is a day out of date.

Whereas when I look at my AJ Bell ISA, the prices on my funds there are up-to-date and any orders I make to purchase funds go through quicker than with HSD.

Interesting because right now my AJ Bell account is showing £202.91 per share for VLS100 which I know is the old Friday price because of looking at the more recent price of £205.01 on the Vanguard and Halifax sites when writing my previous post....



(yes I know £33 of VLS is not going to be enough to retire on)