Most of you know about the DTC but I learned a little bit more about it after I got a response for the reason for the halt and it is because of Non-dtc eligibility. DTC stands for Deposit Trust and Clearing also known as “DTCC” which stands for Deposit Trust and Clearing Corporation.
Through DTC, participants have the ability to distribute new and secondary offerings quickly and economically by electronic book-entry delivery and settlement.
When a stock is eligible for DTC, it settles electronically
When a stock is non-DTC eligible, it settles physically, i.e. not electronically, and requires a lot of human intervention and administration and therefore increases cost which is passed on to my broker.
I could still trade it, but with a whopping fee. Think I'll go back to my other broker which I bought BBDA from before, albeit, over the phone. I thought with Questrade I could just do it over the internet instead of wasting time on the telephone for the initial order entry and then if I wanted to make any changes, it's another long process on the phone.
Oh well, I wanted to buy 110K more!
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