Red Cross

[Jtf]

Hello,

 

I bought SoftBank corp in my ISA a few weeks back but I notice that it's had a Red Cross next to the ticker since then and the prices don't seem to update. I can't trade it now either..

 

Why is this?

 

Thanks

 

J

[Caseynotes]

Hi   Important question. If no one in the community can answer you are more likely to get a response from an IG moderator who could answer or at least pass it on to approp peeps if you include in your message a link to their inbox by adding  @ *person* to one of the IG staffers as in    or     or  

 

cheers

[Jtf]

Thanks for your help here Casey. can you help me?

[Jtf]

Out of interest how does SoftBank appear in your ISA? I believe it's the 9984.de in the Xetra market. If I look at other German shares they look normal and tradable - it's just Softbank.

 

I've also noticed a price of €999999999.0 on occasions for this share on my ISA overview. If you could execute my shares at that level I'll quite happily retire now...

[Caseynotes]

Ha, well done, if only you could execute. Seems to be a weekend data feed anomaly by IG, have you looked at any other feed for this market? 

 

I don't hold softbank but know they are a keen funder of interesting startup companies. I know they have been in the news in the last 6 months odd but can't remember why.

 

[Caseynotes]

  sorry, stupid me, bitcoin.

[Jtf]

It's been like it for a couple of weeks though. Still the same today.

 

It's my exposure to Asian firms. The guy that heads it up reminds me of Elon Musk so you can expect ambitious and positive news flow.

 

please help

[Caseynotes]

9984.DE

 

https://www.ig.com/uk/marketanalysis/ig-shares/softbank-corp

 

The share price data, client sentiment, and trading activity sections are strangely vacant.

[HannahL]

Hi , thanks for the post and apologies you are having trouble with the particular listing in your portfolio.  I have contacted our equities desk and corporate actions team to see if they can shed some light on this and resolve it.  I'm aware there has been an intermittent pricing issue on XETRA stocks today, but am waiting for a full answer and will revert as soon as I can!

 

Thanks for your patience, and  for your input.

 

Hannah

[HannahL]

Hello again ,

 

Our equities desk have now confirmed that SoftBank Corp has ceased trading on XETRA and now trades on a Frankfurt exchange which we do not offer on the platform, hence why it has switched to being offline.  If you'd like to trade out of your position, please do call the dealing desk on 0207 896 0000 so a dealer can do so for you, but please note that there would be a phone commission charge to cover the very manual process involved for us to trade on this exchange.

 

I hope this answers your question, and apologies for any confusion caused.  Do let me know if there is anything else I can do to help.

 

Thanks,

Hannah

[Jtf]

Hi ,

 

Thanks for your help here. Isn't phone commission in the region of £40 per trade? It's a little unfair given that it's a service that you are not providing.

 

I think the least that IG could have done in such a situation is notify customers that shares will be switching to a different market. (I know you can't control this but the team knew).

 

I'll maintain my position now. If it compounds at an annual rate of 10% over 20 years then the £40 will be small change.

 

Thanks

 

James

[HannahL]

Hi again ,

 

I appreciate your comment about the justification for charging phone commission in such circumstances, thanks for your feedback here. The issue is, as an exchange re-listing like this is out of our control, we ourselves do suffer from the increase in broker charges for executing any trade unfortunately!  We'd always be happy to look at trades on a case-by-case basis though, so please do contact the helpdesk when you're looking to trade and they can take a look for you.

 

Thanks again,

Hannah