On Thursday, May 20th, the TSX cancelled part of some open orders while executing another part of the same order (the odd-lot portion).

This affected some Questrade clients with open orders. If you notice that you had an open order that was partially executed and partially cancelled by the TSX, you can enter the cancelled portion as a new order.

If you have any questions please contact Questrade client services at 1.888.783.7866, or www.questrade.com/livehelp.

Effective Monday May 9th, Questrade expects shares of Citigroup Inc. (C) will be consolidated. Any accounts holding C will be directly affected by this change, and any existing open orders are expected to be cancelled by the exchange.

What is happening to shares of Citigroup Inc?

Citigroup Inc. is expected to consolidate the common shares of its stock. The terms of the consolidation are: holders of C will receive 1 common share for every 10 common shares held. For example, someone holding 10 shares of C would receive 1 share after the stock is consolidated.

How does this affect me?

If you had an open order for shares of C, your order is expected to be cancelled by the exchange.

What action do I need to take?

If you want to continue to hold shares of C over the next week you do not need to take any action. Your account will be fully updated to reflect the share consolidation over the next two to five business days.

If you want to close your position in C on Monday, May 9th, or Tuesday, May 10th,  you can enter an order online as you normally would after 8:30 a.m. ET.

If you want to close your position in C on Wednesday, May 11th or over the next two business days, and you see a numbered symbol in place of the normal C symbol, you will need to contact Questrade’s trade desk at: 1.866.980.9590 to have your position updated. You will then be able to sell your position online on the same trading day. If you do not sell your position on the same day, you will need to update it again before you can sell it.

Does this affect options contracts I hold for Citigroup Inc?

Yes. Options symbols for Citigroup will be changed and your account should be updated by Tuesday, May 10th.

Options symbols for Citigroup will change as follows:

    • C changes to C1
    • 1C changes to 1C1
    • 2C changes to 2C1

What action do I need to take?

If you plan to hold your options contracts for Citigroup on Monday, May 9th, you do not need to take any action. Your account will be updated on Tuesday to reflect  the new options symbols.

If you want to sell Citigroup options contracts on Monday, May 9th, you will need to call Questrade’s trade desk at: 1.866.980.9590 to enter an order.