TSXV:AAA.P - Post by User
Comment by
skip_rickon Sep 28, 2011 7:12pm
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Post# 19095877
RE: Sell Orders @ Out-of-Range (Stockticker)
RE: Sell Orders @ Out-of-Range (Stockticker)TFSA is considered a registered account & falls in the CRA protected category via a Trustee & cannot contain a short position. This means that ALL long positions (in registered accounts) are deemed fully paid & MUST be placed in segregation - separate from the broker's daily collateral use.
Cash account positions don't fall in the CRA protected category but, under IIROC rules, LONG positions would be considered 'fully paid' (no debit balances allowed) & must be segregated from the broker's day-to-day use. That is, unavailable to the client's broker for use as collateral.
On short sales, Canada has an 'uptick' rule meaning declared shorts must be on a price rise to effect a short sale. This is intended to relieve selling pressure on a stock's downside. This is an area that differs from the US & has IIROC's hands full to monitor.
Hope this helps
Skipper.