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

To: Andri Bourassa who wrote (1234)	11/16/1998 2:22:00 PM
From: the Chief	Read Replies (1) \| Respond to of 4467

There is an election going on in Québec, by the way... I heard there was! <gggg> A point you might want to stress is that 'everyone is to be treated equally"!! In which case why are market orders 'slipstreamed"???? What you should understand is that the Securities Act is administered by the Investment Dealer Association (IDA). They have imposed the "know your client"(KYC) requirement on the banks. However when I checked with IDA there interpretation is that there must be "human intervention" thats all!! In which case an order coming in electronically could theoretically only have to be subjected to an "enter key stroke"!! However, the banks have interpreted this as a total scrutiny of your life!! Hence the slow, low performance, and inefficiency of the banks!! The last note of interest, is that all banks use the American software for trading!! It is identical to E-trade,Citibank etc etc. What our financial institutions have failed to do is get the software modified for Canadian traders. They are hoping the IDA will remove the requirement for KYC so they don't have to modify the software!!! Which means, ultimately, that no bank or financial institution in Canada wants to be better than the rest....they all want to be equally inefficient.....absolutely no foresight!!!! What a bunch of bull!! the Chief