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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (6303)	2/14/2000 9:03:00 PM
From: blaireo1	Respond to of 24042

I second third and fourth that T2. I was just commenting to a former TSE trader from the early to mid 1980's about the problem with the Know Your Client rule and how useless it is with the advent of on-line trading. He couldn't understand why the trades aren't just put right through. He had assumed that online meant key in the trade and it's done. I deal with InvestorLine and I have to say it is now GREAT if you rely totally on telephone automated trading or on-line trading. I can get option trades done within 4 minutes. The only delay I have found recently is when they actually post the result of the trade in the system. I suspect that is a function of manpower... getting the result of the trade from the US trading floor and back into the computer. Last year I encountered some ridiculous problems with automated and online trading. The systems couldn't handle the volumes (not my volume alone of course!) This was going on at all the other Banks as well. I talked to the Bank's telecom Manager and other big wigs to find out exactly what could be done. One of the delays occurred when the order had to be printed out then reviewed by a trader and then entered back into the system. Now everything stays online and orders are reviewed on the screen. I can report that they did in deed revamp their systems. In the past couple of months I have had to contact live people to discuss opening up additional accounts and all I can say is good luck. 45++ minute waits even after hours. In fact, after hours they reduce staff drastically. During the evenings, I believe they only have one telephone service centre open in Canada so if it's the BC centre open and you are dealing with the Toronto office then if they can't solve the problem then they will forward your request to Toronto the next day. On one late night call (over one hour wait), the woman said that they had just had a 300% increase in new accounts in November and could hardly keep up. They have been hiring but it takes a few months to train and get everybody through the certification and probation period. Like you said, this is no different from anyone else. All in all I am delighted with BMO InvestorLine... ...although I am still waiting for them to develop a system which generates automatic gains and no losses. Any day now I'm sure of it!! Blaireo

To: t2 who wrote (6303)	2/15/2000 9:21:00 AM
From: NTT	Read Replies (2) \| Respond to of 24042

re: Canadian Trading -- If you have a lot of capital or do a lot of trading, then going with TD is great! Once you qualify for their Presidents Account, you get a separate phone number. During the trading day you get through to a trader directly usually within a few rings. No menus, no ads, no garbage. During peak times, such as at market open or close, it may take a minute at most. You also talk directly to a trader so you're not shuffled around and they don't beat around the bush. Give them your account number, your trade, they reiterate and then execute and give you confirmation right away. For daytrading, it's invaluable that your orders get through right away and so it's well worth paying the extra over WebBroker. I don't remember the exact criteria to qualify for Presidents Account. I believe it's if you have at least $200k in your trading account OR $5000 in commissions in the past year? I know that the 'gold' one requires $15k in commissions. If you daytrade a lot, you'll hit this no problem ;-)