So this morning I called Credential Direct (trading as Canaccord) to top up my TFSA account. I asked them to move shares out of my normal account to the TFSA. He asked me if I wanted to do the move at the day's high, or the day's low. The current 2 cent difference meant that I could move 6424 shares.

I haven't seen the cross trade appear yet, but I will be interested in seeing how it transpires or if it is recorded at all on the level II.

It is interesting to know that this is the way TFSA transfers in kind are done. I think it actually leaves a potential for day traders to really force the numbers.

PS: It turns out that all these shares are currently well under water, so I will be able to record a loss on them, since the transfer is deemed as a disposition (the shares are sold and bought).