TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: Jim Bishop who wrote ()	2/28/2000 8:28:00 PM
From: Cory	Read Replies (1) of 150070

Canadian traders - I've been having problems executing trades online with Bank of Montreal's InvestorLine. Like all banks in Canada - they don't care about customers. I suggest you find another broker and not use BMO services. Jim and others have found some success with TD Waterhouse (they are the best, of the worst). Here is the letter I received from the VP of Bank of Montreal. Dear Sir/Madam, Hello and thank you for writing us. Unfortunately our electronic systems do not support trading on OTC markets. We do not anticipate this policy changing in the near future. We regret any inconveniences this may cause you. If you would still like to trade on either the OTC Bulletin Board-Pink Sheets or the Canadian Dealer Network, you can do so by calling your local InvestorLine office and speaking with a representative. The discounted electronic commission will NOT apply for any trades on the OTC markets. Both of these markets are dealer markets and present certain risks for retail clients who may not be aware of how these markets operate. Unlike the NYSE or the TSE, dealers do not post retail orders. This means that if you are trying to place an order which establishes a better bid and ask than the current one, the dealer is not obligated to post that order. Hence, what can happen, is you may have an order where the apparent market trades above(for buys) or below(for sells) and you may not get filled on your order. In brief, the over the counter market does not conduct business in a manner consistent with recognized exchange transactions. InvestorLine wants to ensure that all clients are aware of the risks associated with dealing in OTC markets. InvestorLine has decided that these issues are best dealt with through a representative. The representative can best explain the "best efforts basis" of this market. You have raised the issue of a lengthy wait time to get our agents. Let us begin by stating that we are not satisfied with our current level of service experience we are providing to our customers. The question arises as to what happened to change our service levels from earlier in the year when calls were being answered within our objective time frames. The answer to the question lies in the trading activity currently taking place in the markets. Investing customers are now looking to speak to their investment dealer several times per day all packed in between 9:00 a.m. and 5:00 p.m. rather than the less frequent activity levels leading up to December. Prior to December the call volumes were significantly less than recent experience. InvestorLine is typically able to handle a 30% growth in call volume through its agent platform across the country. Any call volume growth past 30% dramatically impacts the service levels our clients experience. Since December we have had a doubling of our normal call volumes. We normally increase staff for RRSP season each year but even the planned increases have not been enough to reduce the current wait times on the phones. We assure you we are diligently working to increase the service level experience for our customers. We apologize for any inconvenience we may have caused. Sincerely, Daniel M. Robillard Vice-President

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