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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: JAS who wrote (997)	11/3/1998 12:09:00 PM
From: JAS	Read Replies (1) \| Respond to of 4467

Maybe someone is watching this thread!.. Just put an order in on NS Dis. for a buy below the bid and it showed up in 1.22 min... certainly better than the 4 min execution I had yesterday. Jim

To: JAS who wrote (997)	11/3/1998 12:29:00 PM
From: the Chief	Read Replies (2) \| Respond to of 4467

Hi JAS. Actually it is the imposed "know your client" requirement forced on th banks by the Investment Dealers Association (IDA). When you strobe your order into any bank/discount brokerage in Canada it goes to an "investment representative"(IR); a) your order gets "qued" as it enters your company. If the IR is sneezing or picking his nose, the transaction will be appropriately slowed b) when the transaction gets to the IR, your profile is checked to see if your risk level is in tune with this trade! ie. if you signed a document that says you are a low risk investor than strobe thru an order for a 2c stock, they stop it c) then the IR checks for "valid" ticker/symbol and "valid" account, and appropriate funds to cover the transaction. d) if all checks out and he chooses to wait till after he returns from the watercooler to hit enter, then you get screwed! I have proposed a number of solutions to these problems to RB. Everytime they say can't do that because IDA says so, I call IDA and get the scoop and present another alternative to satisfy both parties! So far so good! We'll see the Chief