Missed a few good trades investigating this #+*! trade. The story I got is that the first fill time was only apparently late; it was actually filled at the open but not reported by the Exchange to TD for 3 minutes. This meant that the trade wasn't credited to my account for those 3 minutes so that I couldn't enter a sell order. The stock moved immediately up from the open at $12.26 to $13.02. When I was finally allowed to enter the sell order the stock was still around $13 but starting on its way back down. The TSX computer was unable to handle the general opening volume so specialists had to manually handle the orders. The specialist put the orders in entry time sequence and executed them accordingly. Even though this stock trades an average of a million+ shares per diem it actually went from $12.84 to $12.13 on a single 8000 share market order!! I got matched with a subsequent buy order on the way back up. According to TD the problem is with the TSX; their computer can't handle heavy volumes and their reporting to brokers is often tardy, especially on the opening. In any case, TD acknowledges all the timings but refuses to compensate my account for what they perceive as a TSX problem.
As a former TD Waterhouse customer I would strongly suggest you move your account to a real broker if trade execution is important for you (you'll save a boatload on commish as well). I moved my account to IB a few years ago and will never consider feeding the likes of Waterhouse, Investorline, Action direct, et al...