I.G Index Housing Market

holsta74

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

another thing i dont understand..
 
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.
 
JP1966 said:
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 :)
 
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
 
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.
 
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