Hi does anyone know how to handle the journalling of shares i.e. if I buy DLR in CAD and then have the broker journal those shares to DLR.U which is in USD. This process is often referred to as norbits gambit.
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HI,
It’s Norbert’s gambit, BTW.
Just went round and round with their support folk on this after importing four portfolio’s worth of stuff from Questrade with lots of Norbert’s gambit transactions. SS records the initial purchase of DLR.TO and the final sale of DLR.U.TO (if you’re transferring from C$ to U$), and SS complains you have an invalid holding (because it has records of selling DLR.U.TO without any buy transactions), and you also build up a position in DLR.TO through repeated purchases, because the SS software doesn’t “see” the journalling happen.
To fix this, you manually enter a sell in DLR.TO and a buy of DLR.U.TO of the same number of units. I use the day of the U.S. trade, and set up the values to make the transaction as close to a zero gain/loss as I can - can’t be bothered to be accurate to the last cent on what my gain or loss is.