Two of our glorious banks continued to screw up retail trading today:
Traders using at least two major online discount brokerage platforms are complaining of sporadic outages and expressing frustration that the latest glitch has tied their hands amidst a broad plunge in marijuana stocks.
…
A TD spokesman says “unprecedented” trading volume continues to drive some intermittent delays for its online and mobile WebBroker clients, and the bank rolled out a broad update on Tuesday night to increase the platform’s capacity.
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RBC spokesman AJ Goodman had a similar message, saying “heavy trading volumes” were to blame for service issues, and that a fix was in the works.
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CIBC spokesman Jason Wesley says it is “experiencing record high trading volumes” but clients can continue to trade on its online platform.BMO spokesman Ralph Marranca says that other than a brief website outage on Dec. 27, when clients could still trade via its call centre, its brokerage remains functional.
It’s a good thing we’re not experiencing an actual broad market break right now. Then these guys would find out what heavy trading volume looks like.
Update, 2018-01-05: The following table has been updated to incorporate TSX-reported volume figures.
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
|||||||
| Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
| Ratchet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.2129 % | 2,672.4 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.2129 % | 4,903.7 |
| Floater | 3.44 % | 3.61 % | 32,957 | 18.31 | 4 | 1.2129 % | 2,826.0 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.3270 % | 3,138.4 |
| SplitShare | 4.68 % | 4.08 % | 61,155 | 3.43 | 5 | -0.3270 % | 3,747.9 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.3270 % | 2,924.3 |
| Perpetual-Premium | 5.34 % | -2.48 % | 45,600 | 0.09 | 18 | 0.1850 % | 2,860.4 |
| Perpetual-Discount | 5.24 % | 5.24 % | 63,628 | 14.98 | 16 | 0.2813 % | 3,022.9 |
| FixedReset | 4.21 % | 4.36 % | 134,935 | 3.95 | 98 | 0.2348 % | 2,518.4 |
| Deemed-Retractible | 5.04 % | 5.28 % | 83,190 | 5.88 | 28 | 0.3043 % | 2,959.6 |
| FloatingReset | 2.97 % | 2.83 % | 37,089 | 3.83 | 10 | 0.1327 % | 2,715.4 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| PVS.PR.E | SplitShare | -1.65 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2018-02-03 Maturity Price : 26.00 Evaluated at bid price : 26.26 Bid-YTW : -1.92 % |
| SLF.PR.A | Deemed-Retractible | 1.00 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.19 Bid-YTW : 6.07 % |
| SLF.PR.E | Deemed-Retractible | 1.01 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.07 Bid-YTW : 6.65 % |
| TRP.PR.H | FloatingReset | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-04 Maturity Price : 15.80 Evaluated at bid price : 15.80 Bid-YTW : 3.74 % |
| SLF.PR.J | FloatingReset | 1.10 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 18.35 Bid-YTW : 7.38 % |
| SLF.PR.H | FixedReset | 1.22 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.55 Bid-YTW : 5.82 % |
| MFC.PR.C | Deemed-Retractible | 1.23 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.17 Bid-YTW : 6.60 % |
| PWF.PR.P | FixedReset | 1.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-04 Maturity Price : 18.26 Evaluated at bid price : 18.26 Bid-YTW : 4.57 % |
| GWO.PR.N | FixedReset | 1.32 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 18.45 Bid-YTW : 7.61 % |
| BAM.PR.K | Floater | 1.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-04 Maturity Price : 15.57 Evaluated at bid price : 15.57 Bid-YTW : 3.61 % |
| BAM.PR.B | Floater | 1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-04 Maturity Price : 15.57 Evaluated at bid price : 15.57 Bid-YTW : 3.61 % |
| BAM.PR.C | Floater | 1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-04 Maturity Price : 15.60 Evaluated at bid price : 15.60 Bid-YTW : 3.61 % |
| CCS.PR.C | Deemed-Retractible | 1.58 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.48 Bid-YTW : 5.40 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PF.A | FixedReset | 330,046 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-04 Maturity Price : 23.44 Evaluated at bid price : 23.80 Bid-YTW : 4.36 % |
| BMO.PR.C | FixedReset | 155,400 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-05-25 Maturity Price : 25.00 Evaluated at bid price : 25.84 Bid-YTW : 3.80 % |
| MFC.PR.F | FixedReset | 137,500 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 18.22 Bid-YTW : 7.81 % |
| GWO.PR.P | Deemed-Retractible | 118,400 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.45 Bid-YTW : 4.84 % |
| CM.PR.O | FixedReset | 95,810 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-04 Maturity Price : 23.22 Evaluated at bid price : 23.63 Bid-YTW : 4.40 % |
| MFC.PR.O | FixedReset | 81,581 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-06-19 Maturity Price : 25.00 Evaluated at bid price : 26.74 Bid-YTW : 3.55 % |
| There were 26 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| PVS.PR.E | SplitShare | Quote: 26.26 – 26.93 Spot Rate : 0.6700 Average : 0.5033 YTW SCENARIO |
| BMO.PR.T | FixedReset | Quote: 23.33 – 23.69 Spot Rate : 0.3600 Average : 0.2422 YTW SCENARIO |
| PWF.PR.P | FixedReset | Quote: 18.26 – 18.55 Spot Rate : 0.2900 Average : 0.1766 YTW SCENARIO |
| CU.PR.F | Perpetual-Discount | Quote: 22.15 – 22.50 Spot Rate : 0.3500 Average : 0.2454 YTW SCENARIO |
| BAM.PF.H | FixedReset | Quote: 26.56 – 26.86 Spot Rate : 0.3000 Average : 0.1963 YTW SCENARIO |
| BIP.PR.B | FixedReset | Quote: 25.80 – 26.15 Spot Rate : 0.3500 Average : 0.2509 YTW SCENARIO |
they`re a bunch of clowns. Waterhouse didn`t start working until after lunch.
i don`t know whats going on. but it`s NOT the volumes. there`s nothing abnormal there. there have been days twice as heavy as yesterday and today and there was never a problem.
I’d have a bit more faith in these “heavy trading volume” excuses if they provided any figures to back them up.