Investing

Norberts Gambit at BMO Investorline

  • Last Updated:
  • Mar 27th, 2017 9:15 am
Deal Addict
Dec 11, 2007
1720 posts
293 upvotes
Markham
ksgill wrote:
Nov 2nd, 2016 8:45 pm
Can you elaborate on this?
I buy BCE in Canada, settle in CAD
then i immediately sell BCE in US market , settle in USD

Both trades cost $9.95
It will show as +X shares and -X shares but wait a few days, and they will both cancel out / disappear.

Never had to call in to make the trade with a trader. Occasionally their system glitches and there's an interest charge, but a phone call will get that credited back. When they do the adjustment, they also mention you can call in immediately to tell them to journal the shares to avoid the potential system glitch charging interest. I'm just lazy and rather not waste time calling in if it ends up working out
[OP]
Deal Fanatic
Mar 24, 2008
5088 posts
1168 upvotes
Toronto
^ I have to make another exchange in December, perhaps I'll try it your way next time.

Way better than jumping through hoops with Questrade as the whole process completes on the same day. +1 for BMO Investorline.
Illegitimi non carborundum
Deal Addict
Jan 25, 2008
1020 posts
329 upvotes
Laval
What do you guys think of doing this but with RY/RY.U? Is the Bid/Ask spread the only factor to consider? Why would DLR be better suited to perform the NG?

Been doing this online for that stock. Buy US market in USD and right after sell on CA market in CAD. Taking an investment loss of approx 25-30$ each time, which is reasonable.
Deal Addict
Jun 3, 2009
3657 posts
434 upvotes
Montreal
mtlmonk wrote:
Mar 17th, 2017 4:23 pm
What do you guys think of doing this but with RY/RY.U? Is the Bid/Ask spread the only factor to consider? Why would DLR be better suited to perform the NG?

Been doing this online for that stock. Buy US market in USD and right after sell on CA market in CAD. Taking an investment loss of approx 25-30$ each time, which is reasonable.
DLR doesn't have much intra-day fluctuations whereas bank stocks while being very liquid can still move for or against you during the process.
Jr. Member
Jun 15, 2013
181 posts
43 upvotes
VANCOUVER
Step by step by Justin Bender:

Deal Addict
Jan 25, 2008
1020 posts
329 upvotes
Laval
cn_habs wrote:
Mar 17th, 2017 5:10 pm
DLR doesn't have much intra-day fluctuations whereas bank stocks while being very liquid can still move for or against you during the process.
But you have to call in as I don't see DLR.U from the bmo investor line site
Deal Addict
Jul 31, 2004
1469 posts
31 upvotes
GTA
eresco wrote:
Mar 18th, 2017 1:35 pm
Step by step by Justin Bender:

Based on this video, there's no need to "Wait for the trade to settle in T+3 days" to use the American currency as mentioned in the OP?
Deal Addict
Jun 3, 2009
3657 posts
434 upvotes
Montreal
mtlmonk wrote:
Mar 20th, 2017 8:58 am
But you have to call in as I don't see DLR.U from the bmo investor line site
True.
JS2K6 wrote:
Mar 26th, 2017 6:46 pm
Based on this video, there's no need to "Wait for the trade to settle in T+3 days" to use the American currency as mentioned in the OP?
Nope. You can buy and sell right away but it will show - and + quantity for 4 business days.
Deal Addict
Jan 25, 2008
1020 posts
329 upvotes
Laval
Nope. You can buy and sell right away but it will show - and + quantity for 4 business days.

+1, ive done it.

DLR.U is not available online as some sort of "deterrant" for everyone to do this...that's what the broker told me

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