6/12/07

TD Ameritrade update:

I spoke to a TD Ameritrade Tech Desk rep today. He comes
from the TD Waterhouse side. He is not only aware of the
problem, he TOTALLY GETS IT. He said TD Ameritrade is aware
of this issue as well and is working on resolving the issue.
He is going to keep me updated periodically on how things
are progressing.

The inability of TD Ameritrade to sync the Money Market fund
dividends with bivio is a problem with the TD Ameritrade
data platform (computer program). It has nothing to do with
bivio or the OFX interface.

Both TD Waterhouse and TD Ameritrade systems view the money
markets as cash vehicles. Here’s where the issue arises:

TD Waterhouse:
Dividends showed up as a cash transaction. The Waterhouse
data platform viewed this as a cash transaction.

TD Ameritrade
The dividend shows up as a position (stock), not just
straight cash. When TD Ameritrade pays the dividend, it’s
showing up as a share of stock. The TD Ameritrade site reads
the transaction as an incoming share of stock, not as
incoming cash.

Again: not an OFX issue. It’s the way the system on the new
TD Ameritrade side reads the information or in techie speak:
the way TD Ameritrade is hard-coded (programmed) to read
incoming money market dividends, which is being worked on.