Day trading in Canada

cdntrader,
the key word is deficiencies. I have never seen an application to a regulator where additional information or clarifications were requested.

IB has a unique way of doing business and maybe it is just taking longer than the norm to clarify or explain why things are done a certain way. Who knows, I'll just hope this thread moves onto bigger and better things in January.
 
So you have your IDA(Investment Dealers Association) approval and your waiting on Provincial approvals? Is that correct?

What is the procedure for getting the 10 seperate provincial approvals? Once you get one the rest give u a rubber stamp?
 
Dufferdon was wondering where Datek and other brokers were in this snail-like process. Here is the latest generality from Datek as of today:
"Although Datek does not currently have a presence within Canada, we are making every effort to do so."

duggo
 
I sent IB an e-mail on December 26 asking about Canadian registration. They replied stating January as a target. A few days later they sent me another e-mail saying it would now be February. Check again on March 1 I guess.

I sent an e-mail to the Securities Commission here in BC urging that they approve the IP application. (No reply yet.) Perhaps other interested people should do the same in their provinces.
 
There was another post over the weekend where I mentioned that IB was not considered for approval in Jan. They are on the agenda for the regs in Feb. I understand once the broad approval comes, the provinces should be a rubber stamp.

IB is doing all it can at this team. The group has been approved to trade by regulators all over the world. At some point Canada will have to stop coming up with excuses and grant the approval. Hoping for Feb.
 
Originally posted by def
There was another post over the weekend where I mentioned that IB was not considered for approval in Jan. They are on the agenda for the regs in Feb. I understand once the broad approval comes, the provinces should be a rubber stamp.

IB is doing all it can at this team. The group has been approved to trade by regulators all over the world. At some point Canada will have to stop coming up with excuses and grant the approval. Hoping for Feb.
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Thanks for the info def. Regarding the rubber stamp this is my understanding as well. Especially now given the new focus they are putting on the CSA organization.

Hopefully the CSA(http://www.csa-acvm.ca) will transform itself into a national securities regulator. Canada is wayyyy to small too have provincial regulators.
 
Do you know which organization is dealing with the registration applicatiob prior to the anticipated "rubber-stamping" by the provinces? Is it the CSA or is one province taking the lead, with the others expected to follow? If it is a province, which one is it?
 
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