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Neuralstem, Inc. Message Board

  • hankmanoo hankmanoo May 28, 2013 1:28 PM Flag

    Frustrating experience at TD trying to buy CUR

    I am in Canada using TD as my broker. This morning I tried to buy a large quantity of CUR. I put in a bid at the current Bid which was $1.39 at the time. I waited and waited until if finally got a partial fill of just 200 shares. But I thought OK my turn in line has arrived and as trades were happening at the Bid (1.39) as well as at the Ask(1.40) that I would get the fill with a little more time. Well trades kept passing on my screen at the Bid (1.39) but no more fills for me! I waited and waited as many more trades passed by but I got no more fills. I tried raising m y bid over the Bid to $1.391 which WebBroker (the TD software) accepted as a change order. Still nothing happening while trades at 1.390 continued to happen. I checked to see if I had more partial fills and I now saw a pending cancel for the order. I called TD and they told me I can not place an order with a fraction of a penny. But I argued I see those trades happening all the time. So we replaced the order at 1.39 again. I asked him why I was not being filled? He took a long time while I held and then informed me that my order is in NY but the primary market for this stock (CUR) is the Pacific Ex. I asked well how many trade in NY? After another lengthy hold he came back to tell me that about 7000 shares traded in NY this morning while some 270,000 shares traded on the Pacific EX. I told him to place mt order in the Pacific Ex, and after another lengthy hold he told me they can only place orders in NY notwithstanding that the primary market place for CUR is the Pacific Ex. I got real frustrated and realized that I was not going to get filled for the large order I had in the NY market which left me no choice but to change brokers or place my bid at the Ask($1.40) and I got filled. I was very dissappointed in TD.
    I suspect others who imagine they are playing in the main market just wait around for a fill in the secondary (tiny) market (NY) rather than getting filled on the Pacific Exchange.

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    • I also have TD (US) as my broker and have not had any trouble buying CUR. When I have placed my orders they have usually gone off under the market by a tenth or more sometimes. I am not sure if TD Canada does things differently than in the US or not. Might be worth finding out.

      • 1 Reply to b44b57
      • TD Canada is different from TD USA. In the USA, Waterhouse was a discount broker that was acquired by TD (Toronto Dominion) Bank. They renamed it TD Waterhouse, a discount broker operating in both the US and Canada. Then Ameritrade acquired the US portion of TD Waterhouse, and renamed the US operations TD Ameritrade. TD Waterhouse (or maybe just TD now) continues to operate in Canada. There are some cross-holdings, I believe that TD (the bank) still owns shares of TD Ameritrade. But they are no longer the same company, so there could be differences between the way they operate in terms of accessing markets. On the other hand, if the prices on the NYSE (accessed by TD Canada) got too out of whack with the Pacific Exchange prices, someone would arbitrage most of the difference, so I don't see it as a significant problem.

    • hurry, call Scottrade!

    • I ran out of space in my first post.
      I just wanted to point out that CUR should realize that some major brokers do not trade on the Pacific EX and they would be much better served in NY. Has any one else had a similar problem - particularly if you are in Canada?
      Sure hope we go up from here.

 
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