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| Building A Globally Efficient Equity Portfolio with Exchange Traded Funds | 6 comments | Create New Account |
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Building A Globally Efficient Equity Portfolio with Exchange Traded Funds
Authored by:
mjfrazer on
Thursday, June 22 2006 @ 07:27 PM EDT
I talked to TD's people about this. Here is what they say about selling a
US security directly into a US money market fund. That is, without going
into and out of CDN in between:
You can certainly perform this. Once selling the US stock, you can place
the proceeds directly into the US Money Market mutual fund (without
converting into and out of CDN in the process) by calling and requesting it
with a representative the day prior to the settlement. They can arrange to
have the proceeds of the sale go into US Money Market mutual fund at the
same US rate, thereby eliminating any discrepancy / loss caused by different
BUY and SELL rates. This is known as 'washing the rate'.
I am asking RBC if they'll do the same. If not TD is getting my accounts!
US security directly into a US money market fund. That is, without going
into and out of CDN in between:
You can certainly perform this. Once selling the US stock, you can place
the proceeds directly into the US Money Market mutual fund (without
converting into and out of CDN in the process) by calling and requesting it
with a representative the day prior to the settlement. They can arrange to
have the proceeds of the sale go into US Money Market mutual fund at the
same US rate, thereby eliminating any discrepancy / loss caused by different
BUY and SELL rates. This is known as 'washing the rate'.
I am asking RBC if they'll do the same. If not TD is getting my accounts!
cheers
-mark