GREY:CRIUF - Post by User
Comment by
deisman03on Aug 30, 2017 11:57am
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RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Ex distribution day
RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Ex distribution daymaypeters wrote: Not it only is it not possible but it is also illegal. Same playing field when it comes to ex divvy date and record date. Whoever told you they are getting this deal with their brokerage are taking you for a ride or have no clue how things work.
deisman03 wrote:
Some people aparently deal with brokerages that will have them on record if they bought yesterday and even today before the close. It's expensive though and I prefer to do my own trading in self directed accounts.
I'm only going by posts made by people on this thread and a few others. I have never been so lucky personally. As far as legalities?????? I suspect when large institutions, such as Insurance companies and ETF platforms do their trades it's directly with the company/corporation/trust, rather than through a broker.
However, I'm not as sophisticated as per regulations as many here so please feel free to correct me if and when my assumptions are incorrect. I do appreciate clarification and don't take it as a negative.
This isn't the first time this subject has risen on this thread as well as others. Many people dealing through their personal broker aren't told how the dates of record are kept. I had one broker at Scotia McCleod that told me I would get the divvie on a stock if I bought it on the same day of the declared date.
Of course, he was completely wrong and was very apologetic later, when I could have picked up the stock substantially cheaper. Still, that was over 20 years ago and is now water under the bridge. It was however one of the reasons I decided to do my own trading.