How to Place a Trade
TD Waterhouse, an approved firm which does not offer advice to self-directed investors, processes eligible orders without reviewing the trade for suitability against the client's investment objectives. This service allows TD Waterhouse to send eligible client orders directly to the exchange, giving them immediate access to the market.
Order Entry Warning Messages
Under certain circumstances, an Investment Representative (IR) may still review an order. Order entry warning messages will prompt the order to be sent to an IR for review (for example: credit issues, trading limits).
Note: For those existing clients as of February 5, 2001 who have not accepted Rapid Market Access, all orders will continue to be reviewed for suitability by an IR.
TD Waterhouse has implemented order entry warning messages to help inform and/or prevent clients from placing incorrect and/or ineligible orders. These warnings are also in place to ensure orders adhere to TD Waterhouse credit policies and exchange policies. Clients are responsible to review such edits before sending their order.
There are three kinds of order entry warning messages.
- One type of message is for client information only. When these messages appear, you are responsible to review the message before sending the order. The order will be submitted once the warning message has been acknowledged and accepted by you.
- The second type of order entry warning message is for TD Waterhouse to ensure credit policies and/or exchange policies are applied. When these messages appear, the order is directed to an Investment Representative for review.
- The last type of warning message identifies an error in the order entered. The order will not be submitted unless the error indicated in the warning message has been corrected.
Example Order Entry Warning Messages - Client Information Only
| (41322*) Your account already has an existing order for this security. |
Reminder that your account has or had an existing order for the same security on that same day. This includes recently cancelled orders, which are subject to prior fill. ** |
| (41908) The currency of your account does not match the currency of the market. Your trade will be converted to the currency of your account. |
Reminder that a currency conversion will apply as the currency of the security differs from the currency of the account. (e.g. Buying a U.S. security in a Self-Directed RSP) |
Example Order Entry Warning Messages - IR Review
| (41332) Trade amount limit. This order will be routed to an Investment Representative for Review. |
Once the value of an order exceeds the Credit & Risk Management authorized level, the order will be directed to an IR for review. |
| (43913/ 43914/ 43915) Number of Orders Edit - this order will be routed to an Investment Representative for review. |
Once the number of open orders exceeds the Credit & Risk Management authorized level, the order will be directed to an IR for review. |
Example Order Entry Warning Messages - Order Entry Error
| (61012) This mutual fund has a minimum purchase amount. Please increase dollar amount or number of units. |
Mutual fund buy orders require a minimum purchase amount. |
For more information regarding specific order entry warning messages, please contact a TD Waterhouse Investment Representative.
|
