How to Place a Trade

Rapid Market Access (RMA)

Introduction
Decision Process
Trading Information

Introduction

What is Rapid Market Access?

It is a trade execution service that allows clients to place orders without having their investment objectives and the suitability of each proposed investment assessed by TD Waterhouse. This service can expedite order execution and thereby reduce the risk of stock price fluctuations between the time that an order is placed by you and subsequently received by the Exchange.

What are my responsibilities as an investor?

TD Waterhouse does not offer advice to self-directed investors but enables clients to make their own investment decisions. With Rapid Market Access, clients are responsible for the orders they place and clients with margin accounts need to monitor their margin and concentration limits. With Rapid Market Access, client orders are not reviewed for suitability by TD Waterhouse.

Decision Process- For clients who opened their TD Waterhouse account prior to February 5, 2001.

How do I take advantage of the benefits of Rapid Market Access?

Clients that opened their account on or after February 5, 2001 automatically receive Rapid Market Access service. Clients that opened their account prior to February 5, 2001 must acknowledge their acceptance of Rapid Market Access. To acknowledge and therefore, register your account, please call us at 1-800-465-5463. Our Investment Representatives will answer any questions that you may have and will process your acceptance of this service.

What if I have more than one account with TD Waterhouse?

We are required to have clients accept or decline Rapid Market Access for each of their accounts. This may be easily done, just by calling a TD Waterhouse Investment Representative.

What if I do not want Rapid Market Access?

Rapid Market Access may not be for every client, or even for every account. Some clients may prefer having their general investment objectives assessed by TD Waterhouse for suitability. Clients who decide to continue using this existing trade execution service will be transferred to TD Waterhouse Partner Services, a division of TD Waterhouse Investor Services (Canada) Inc., which is dedicated to the ongoing provision of reviewing trade activity for suitability. This transfer will take place within two business days following your election of this service.

What if I do not make a decision right now?

Until you make an election to accept or decline Rapid Market Access by then, you will not be allowed to process transactions in your account (except for full liquidation of existing securities or to transfer your account). Every client who opened their account prior to February 5, 2001 will need to confirm whether or not they wish to take advantage of this service.

Can a client who chose TD Waterhouse Partner Services change their response to take advantage of Rapid Market Access?

Yes, by calling an Investment Representative.

Clients who opened a TD Waterhouse account on or after February 5th, 2001 are required to accept Rapid Market Access as a condition of opening the account.

Can a 'power of attorney' accept/decline Rapid Market Access?

Yes

Can a person designated with 'trading authority' accept/decline Rapid Market Access?

No

Trading Information

What is the advantage of having Rapid Market Access?

The advantage is speed, which is especially valuable in volatile markets. If the order does not have to be reviewed by an Investment Representative (IR), the order will not have to wait in queue and will go directly to the market for execution.

When was the Rapid Market Access service activated?

The Rapid Market Access service was activated on February 5th, 2001 for those clients who have taken advantage of the service.

Are all orders eligible for Rapid Market Access?

No. Under some circumstances an IR may still review an order. Order entry edits will prompt the order to be directed to an IR for review. (e.g. credit issues, trading limits, etc.) In addition, TD Waterhouse will be phasing in the types of orders eligible for Rapid Market Access. Currently, most equity buy and sell orders are eligible for Rapid Market Access.

Does Rapid Market Access have a different commission schedule?

The current commission schedule applies to all orders processed using Rapid Market Access.