On March 18th 1 AM I placed a simple limit sell order without constraints at $94.64 for 2000 shares of a NYSE listed refinery stock.
The daily high went through $94.64 and into $94.66 – .02 above my sell price on volume of 3,029,500.
My order wasn't executed and my would have been profitable sell from a stock purchased earlier in the week dropped below my cost that same day.
The stock went through my limit sell order price points of 94.64, 94.65 and into 94.66 then back down to 94.65 and back down through 94.64 (around 1:28:24 ) – all without being filled. Can someone explain how this could happen with daily volume of 3,029,500?
Now my account is in a sizeable loss position.
All of my TD Webbroker orders default to partial execution when ever possible.
I would have needed to: Check here for "All or none (optional)"
But not a single share was sold.
I am very disappointed that TD Waterhouse did not fill my limit sell order which was .02 BELOW the fill price - and gets away with it scott free!
TD Webbroker.ca advertises that they have a regulatory obligation to diligently pursue execution. TD help line staff answered me “if the price goes to .2cents above the sell price you set in your limit order, TD will sell the stock for you.” I spent hours on the phone without resolution, the line went dead once and a good chunk of that time spent trying to convince them that the price went above $94.50.
TD Webbroker.ca online system was down for 2 days, we were unable to log on so I wonder if another possible system failure was responsible for this.
TD Bank Group's (TD) Ombudsman won't act unless I get written response from management but contact people at TD management refuse to respond to my problem in writing by email.
What, if any, recourse might I have?