Wednesday, July 9, 2008

DRIP Order Problem With Questrade Update

OK, I just got the e-mail reply from Questrade. It looks like the executed price was correct. They execute the DRIP order the day after the dividends payout, which is July 2nd in this case. The trade will settle in 3 business days, which is July 7th. In their back end system, Pension, the correct executed price(July 2nd price) was recorded. However, in their trading platform, Webtrader, the executed price was recorded as the price at the close time of the day the trade settled which is July 7th price. So, the number in Pension is correct but the number in Webtrader is not. I am glad the problem has been figured out. But this kind of issue is still not acceptable. Basically, I could not use the records in Webtrader to calculate my adjusted cost base. I have to go back to the back end system to figure that out. Oh, well, let's just hope there is no more issues with Questrade. Otherwise, I am ready to switch.

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