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gilead23

05/01/07 10:50 AM

#71331 RE: beigledog #71329

beigle pink sheets

Take the canadian ask multiply it by the exchange rate and add a half penny or so.

Trick being the real price is based on the current bid and ask in Canada adjusted for the CDN USD exchange rate which is currently about .902

cliffvb

05/01/07 11:02 AM

#71337 RE: beigledog #71329

Beigle, Pink sheet equivalent prices should be updated on a daily basis after the close of the markets, so there should be changes from day to day unless the underlying canadian stock is not moving. Best place I have found for converting from canadian to US stock prices and vice versa is this site:

http://www.xe.com/ucc/

Bobwins

05/01/07 11:23 AM

#71343 RE: beigledog #71329

beigledog........buying canadian stocks.....

Pink sheet symbol is used by your American broker to enter the trade into their electronic systems. The trade doesn't go thru the pink sheet system in the US. Your broker has a Canadian broker to handle Canadian trades. They take your pink sheet symbol and convert it to Canadian stock symbol and send the request to their Canadian broker/affiliate.

The Canadian broker converts your US$ bid or ask to C$ and executes the trade on the proper Canadian exchange. That's why you never see the pinksheet trade.

Is all this work for free? No. The Canadian broker is going to get paid. They typically add a .01 or .02 to your ask price or subtract the same from your bid to get their commission.

You can't tell what the real bid/ask is for the pink sheet because it doesn't trade as a pinksheet. Go to stockhouse.com. Plug in the canadian symbol. Get the quote screen. On the quote screen there is a pulldown menu in the middle of the screen that gives you the US$ equivalents for the bid/ask. It's sometimes off but close. After you see what the bid/ask is, you can decide how to price your bid/ask. Typically your broker will give you these conversions but I prefer to get them myself rather than wait on the phone. You can do the same thing by getting the current Canadian exchange rate and applying it to the Canadian stock price. Bobwins