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Author Topic: CoreShares  (Read 9293 times)

Hamster

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CoreShares
« on: September 07, 2016, 02:48:57 pm »
Is it just me or is it near impossible to sell ETFs managed by CoreShares? ABSA and STD Bank's ETFs seem to have the liquidity guaranteed and if the price hits the limit the transaction is executed. With CTOP50 it looks like liquidity is a real issue. Trade is in at market price and only a third has been sold :/

Am I missing something?
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Patrick

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Re: CoreShares
« Reply #1 on: September 07, 2016, 03:05:33 pm »
When I sold all my shares of DIVTRX before moving offshore, I was given a contact number for someone at Coreshares. On the day I wanted to sell, I called him, told him the number of shares, and he mopped them all up in one transaction. It was at the same price as the automated sell price.
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Hamster

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Re: CoreShares
« Reply #2 on: September 07, 2016, 03:18:18 pm »
I take it I can find said number on their site?
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Patrick

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Re: CoreShares
« Reply #3 on: September 07, 2016, 03:55:05 pm »
Quote from: Hamster on September 07, 2016, 03:18:18 pm
I take it I can find said number on their site?
This is what I was given: Please contact Ryan Massey (031) 333 5374 our market maker, he will be able to buy the full volume of xxx Divtrax ETFs.

Not sure if it's the same person for the other ETFs.
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Hamster

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Re: CoreShares
« Reply #4 on: September 07, 2016, 05:22:05 pm »
Schweet, I might just give him/them a call
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Hamster

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Re: CoreShares
« Reply #5 on: September 09, 2016, 11:16:14 am »
OK, so my limit price just hit again and AGAIN only a small amount of the shares traded. This pisses me off  :frustrated:

Emailed their market maker, will phone if no response within the hour.

ABSA/NewFunds if you are reading this, please create a DIVTRX alternative :(
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Orca

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Re: CoreShares
« Reply #6 on: September 09, 2016, 11:36:34 am »
It is not a very liquid ETF and you are trying to sell at market price. You will not find many buyers at that price and you will need to sell at the price quoted. More often than not, this will be a robot placed price and volume.
Once the volume is depleted the robot will immediately top it up again.
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Hamster

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Re: CoreShares
« Reply #7 on: September 09, 2016, 11:36:50 am »
Cool, he responded pretty quick and the transaction is done. Quoted:

Quote
I will take the stock at your level as that is the current NAV of the ETF.

So if this single sided rant of a thread is of any use to anybody, like Patrick mentioned, if your trades aren't happening call their market maker (details on their site).
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Hamster

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Re: CoreShares
« Reply #8 on: September 09, 2016, 11:38:04 am »
Quote from: Orca on September 09, 2016, 11:36:34 am
It is not a very liquid ETF and you are trying to sell at market price. You will not find many buyers at that price and you will need to sell at the price quoted. More often than not, this will be a robot placed price and volume.
Once the volume is depleted the robot will immediately top it up again.

It's not very liquid but I always thought the JSE required an ETF's operators to guarantee liquidity. Anyway, moving on...
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Orca

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Re: CoreShares
« Reply #9 on: September 09, 2016, 12:37:54 pm »
They are extremely liquid at the prices quoted by the robots Not outside of them as there are not enough buyers and sellers.
The robots will note market movements and modify buy and sell quotes in the direction of the market movements  so you will not benefit from older market prices that have not yet moved. That is how ETF's work.
« Last Edit: September 09, 2016, 12:47:47 pm by Orca »
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Hamster

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Re: CoreShares
« Reply #10 on: September 09, 2016, 01:26:22 pm »
Quote from: Orca on September 09, 2016, 12:37:54 pm
They are extremely liquid at the prices quoted by the robots Not outside of them as there are not enough buyers and sellers.
The robots will note market movements and modify buy and sell quotes in the direction of the market movements  so you will not benefit from older market prices that have not yet moved. That is how ETF's work.

Well I'll have to take your word for it and go check it out again because I have bought and sold a couple of ETFs before and this is the first time I've struggled with liquidity.
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