Three years....



  • Hi all, does anybody know the dates of when your futures actually expire? And what will happen when some of the big holdings are forced to sell? Would these be sold automatically or do we need to Is our holdings? I'm sure some of the original investors expirys will be due soon...
    Cheers



  • At the last London Traders meet marking the Index's third birthday, FI said they'd extended the rule by a year for futures due to expire, but also that there were hardly any this applies to.



  • I wonder if they will keep extending...and if they can legally do this?? Surely when the three years expires the people who bought the big guns for a couple of quid will not be re-buying at £15...??? Will be interesting either way!



  • I always though the 3 yr thing stops having to pay tax on anything you have earned



  • @NewUser95909 said in Three years....:

    Hi all, does anybody know the dates of when your futures actually expire? And what will happen when some of the big holdings are forced to sell? Would these be sold automatically or do we need to Is our holdings? I'm sure some of the original investors expirys will be due soon...
    Cheers

    Check your transaction history on the app.



  • @Finlay77 yes it's exactly that reason, so it's not classed as investing.



  • @Lukeroro yeah but it’s not quite as simple as that. When I have to spend the 10k for the deposit bonus I put it on the big guns, most of which I already hold. I then sell the same amount to get my 10k back out. (Usually 100 shares in each) Obviously it sells the oldest shares first buts it’s become messy and very tricky to know which shares are actually in play. Would be good to know the exact expiry dates of the shares you currently own.



  • @Valhalla I hear that



  • Well the way FI have messed up with bonuses, and have not been very clear on any of the promotions, I cannot see this situation going smoothly....no one in my portfolio has an expiry date? Will they IS automatically like spread betting or will we just lose the lot if we dont manually keep an eye on the date we purchased....I hope they handle it professionally as FI is an excellent product!



  • It’s not one of their priorities atm but it would be sorted in the next year, I would be confident of that, and the period has been extended to four years for original buyers



  • If they've extended the period to 4 yrs for original investors what do you think will happen at this time?
    To me they just avoided having to answer that question by extending it. I know FI said there weren't many due to be sold at 3yrs, but I think the big question is when some of the large portfolio holders HAVE to sell up I think there's no way they will reinvest their profits, if any reinvestment at all. Does anyone have the exact date FI started and any indication of how many futures were bought at this time, or when huge investments took place?



  • @Valhalla when you sell, you sell your oldest shares, so it's not really an issue. A bit different with GA 30 day rule, but with everything with GA you have to just track things yourself.


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