Ankheroo

If you would like to check info go to the IDA.

Keep in mind the names such as CIBC(Wood Gundy) & RBC(Dom. Sec.) are (99 out of 100 times) just acting as brokers & are executing orders for clients. The instit. client does not need to have an a/c at a particular bank to do a deal. The deal is done immediately & details are sorted out later such as opening a new a/c. They have 3 business days to arrange all that. The client will issue instructions to their bank to receive a large cheque from the broker against a Letter of Undertaking for the sold shares.

Institutions do not have to jump thru hoops like us poor retail slobs.

Regards

Joltin