I.G Index Housing Market

[holsta74]

In July 04 I traded the london housing Market (short) with I.G Index. They experienced a lot of demand from this market and could not balance their books therefore in Oct 04 closed the market and accepted no opening trades .

My profit was slashed by their actions
I have put forward a complaint to I.G
Wondering if there is anybody else out there that experienced this.

[email protected]

 

[jklondon]

can you clarify - did you make a profit but it was cut short by the fact the mkt closed in October OR are you said they did not pay up at all?

 

[FetteredChinos]

err. if they accepted no opening trades, how did that affect you trying to close one?

another thing i dont understand..

 

[JP1966]

Surely they accepted a lot of supply not demand!

On a serious note what was the index to be measured against? I am aware of the national surveys from bodies like the Nationwide and the Halifax but not sure I have seen a reliable London index. I would never trade an index where in essence the market maker makes the market and there is no reliable independent statistic against which it is based.

 

[jklondon]

Surely they accepted a lot of supply not demand!

On a serious note what was the index to be measured against? I am aware of the national surveys from bodies like the Nationwide and the Halifax but not sure I have seen a reliable London index. I would never trade an index where in essence the market maker makes the market and there is no reliable independent statistic against which it is based.

http://www.igindex.co.uk/content/so_house_price_betting.html

still on their site

 

[Racer]

I know there was a lot of problems with this and they made their own book as far as I know.
Not something I would trade

 

[JP1966]

Thanks - but the point remains that if no one else quotes the same index you are entirely reliant on your market maker quoting the 'right' price. I would never trade an instrument where this was the case.