At present there is no liquid ‘secondary market’ for the wiseAlpha Notes. Members wishing to sell their Notes prior to their maturity dates will be assisted by the platform who will offer the Notes to members on a matched bargain basis. The wiseAlpha sale process works in the following way:
- Upon request wiseAlpha may at its discretion agree to repurchase the Note at a 0.25% discount ("Sale Fee") to the prevailing market price;
- wiseAlpha will not be obliged to repurchase the Note unless it can issue an equivalent Note to a new or existing investor, meaning that liquidity will be dependent on there being an available and willing buyer at the market price. You will receive your cash in your account once another member has purchased a new Note equivalent to the Note you are selling.
You can sell individual Notes by creating a sell order on the Invest page.
Click the sell button for each Note you want to sell and enter the amount. You can sell Notes one at a time or several at once by building up your sell order ticket.
Note sell orders will remain open on the system until the trade is executed or you cancel your sell order. The system will automatically execute open sell orders once another member has purchased the same Note. The amount of the Note for sale does not have to be purchased in full but can be sold gradually (in the case of a large sell order amount) as buy orders for the Note are filled.
You will receive your cash in your account once another member has purchased a new Note equivalent to the Note that you are selling.