Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: The Devil Dog who wrote (38041)	6/2/2000 12:13:00 PM
From: the Chief	Read Replies (1) of 62347

I am on hold waiting to talk to a DS manager. Here's the scoop, but it is my guess as to what is happening. The discount brokers used the KYC rule as an excuse to slow down trades thru their system, for discount brokerages. The KYC rule will be dropped shortly. This would allow all discount brokers to "execute" orders as fast as their full service, and "pro-trader" orders. They won't allow this to happen, we are seeing it in the last 2 days. I believe they are incorporating a 2-3 minute delay after you enter your order before it appears in MD! I phone in ALL my orders. In the last 2 days AD takes 2-3 minutes to input your order to MD, after the order is physically enetered. This coincides with the previous quote where brokerages say that they will be able to "fill your order in 2-3 minutes". I called the TSE and they insist that it is not their system. So I phoned up my two full service brokers and placed an order with both. From the time the order was keyed in until the order was filled was 3-5 seconds!! So I have news for all of us...if we think we will get speedier service without KYC, I think we are kidding ourselves, they are setting it up now so we don't!!! the Chief

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