FAQs

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Frequently Asked Questions

Trading

How secure is Online Trading?

We have taken both technological and procedural steps to help protect the privacy of your data. As a result, Online Trading is only possible through a secure (SSL capable) web browser that supports 128-bit encryption technology. First, we require you to enter your User Name and Password to access smithbarney.com. Next, for Online Trading, domestic clients are required to re-enter their smithbarney.com password and international clients must enter an Electronic Client ID. Please remember that you are responsible for the confidentiality and security of your User Name, Password and Electronic Client ID.

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Are there any extra fees for Online Trading?

There are no additional fees for trading online with smithbarney.com. However, you are responsible for the standard fees and commissions associated with trading.

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I am an international client. How do I change my Electronic Client ID?

For international clients, we have provided a Change Client ID option on the left-hand navigation bar within all trading screens. Click on the link to access the appropriate screens. You can also change your Electronic Client ID by choosing the User Settings option located under My Access in the top navigation bar.

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Why do I sometimes have to re-enter my Password or Electronic Client ID before sending an order?

For security reasons, the Online Trading system will require you to re-enter your Password or Electronic Client ID if you have not submitted an order within the last ten minutes. You may change this setting to every five minutes or every time you enter a trade.

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Can I buy and sell other types of securities besides equities and mutual funds online?

We offer trading of equities, mutual funds, options and purchases of most fixed income products.

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What is the Trade View window?

The Trade View window gives you the ability to follow the status of your orders while working outside of the Online Trading area. Open orders which have not yet been executed will remain on display until they are executed or canceled. Unexecuted day orders will expire at the end of the trading day. Details of orders that have been executed will be retained for viewing for a total of five business days following the execution date. If the status of your order changes within the Online Trading system, the Trade View window will automatically update to reflect the new status.

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Is there a limitation on the dollar value of shares that I can purchase each day through the Online Trading system? If there is, who is responsible for determining these limits and how are they determined?

Yes, there is a limit on the dollar value of shares you may purchase each day through the Online Trading system. Your Financial Advisor advisor is responsible for determining your Online Trading limit. To find out what your Online Trading limit is and the criteria upon which it is based, contact your Financial Advisor advisor.

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Is there a limit to the number of shares or option contracts I can purchase at one time through the Online Trading system?

Yes, there is a limit to the number of shares and the number of option contracts you may purchase at one time through the Online Trading system. Orders that are placed above 25,000 shares will not be accepted. Additionally, option orders placed for more than 100 contracts will not be accepted. If you would like to place an order for more than 25,000 shares or 100 contracts, please call your Financial Advisor advisor for assistance with your order.

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Can I determine what my available online trading funds are before I enter a trade?

Yes, we have developed a feature within the Online Trading system that will allow you to access your available funds. You may access this feature by clicking on the Available Trade $ button located on the left-hand navigation bar found within the Online Trading area. Once you have selected an account from the account pull-down menu, the system will calculate the funds available for that account. Factors that influence your account limit include your account value, trades that have been executed throughout the trading day, checking and money card transactions processed in your account during the trading day and open orders pending, and the limit established by your Financial Advisor advisor.

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What should I do if I can't get to my computer to cancel or modify an open order?

Call your Financial Advisor advisor during regular business hours and request a cancellation or a modification. With your authorization, your Financial Advisor advisor can cancel or modify any open order(s) you specify. If your Financial Advisor advisor is unavailable, you may request the cancellation or modification be made through the Branch Manager or Operations Manager of the branch office servicing your account.

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Do you provide real-time prices for Online Trading?

Yes, the price that you will receive is the last reported price for the security you requested. Only Online Trading supplies you with real-time prices. Other areas of the site have a 20 minute delayed quote feature. Please keep in mind that there is always a slight delay as information travels over the Internet.

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What does it mean when I submit an order to the Online Trading system and receive a warning, error or order rejected message?

We have designed the Online Trading system to assist you in the entry of orders and to help prevent client order entry errors. If the system detects any such error, it may result in an online message indicating the nature of the error and the method of correction. Please note that although the system is designed to help prevent order entry errors, it is your responsibility to verify all of the trade parameters before submitting any orders to the Online Trading system.

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Where can I find the Order Number or the FA Reference Number for an order?

These useful numbers can be found on the Order Detail screen. You may access the Order Detail screen by clicking on the underlined Status link found on the Order Status screen.

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Can I select which Tax Lots are sold?

Yes, the Online Trading system offers the Tax-Lot Selector form which is an optional step that allows you to choose the specific Tax Lots (shares) you would like to sell (Select Shares To Sell). You can also choose to sell your highest cost or your lowest cost shares first or your newest or oldest shares first. If you choose to by-pass the Tax-Lot Selector, the Online Trading system will automatically allocate the shares that were purchased first (oldest shares) and continue until the total number of shares specified for sale are distributed (Sell Oldest Shares First).

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I tried to cancel an open order. However, part or all of the open order was executed. Why?

If a cancellation request is submitted during market hours, it is possible that the original order could have already partially or fully executed before the cancellation request was received and processed. As a result, your request to cancel all or part of the order may not be fulfilled.

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How can I tell if an order has been executed, and how will I be notified of the trade?

We offer two methods for following the status of your orders: the Order Status screen and the Trade View window. Both will show the status of your order in the status column. Once an order has been executed, a confirmation of the trade will be mailed to you and should arrive within three business days of the trade.

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Does the Online Trading system allow me to enter orders on the weekends and holidays as well as when the market is closed?

Yes, the Online Trading system will accept the entry of orders 24 hours a day, 7 days a week, except when the Trading System is unavailable due to routine maintenance or for other business purposes. Orders that are submitted to the Online Trading system when the United States securities markets (i.e., NYSE and NASD) are closed will receive a status of Pending. The orders will remain pending until they are reviewed by the Online Trading system prior to the opening of trading on the next business day and will be accepted or rejected at that time. Please note that a pending status does not ensure that an order will be accepted by the Online Trading system.

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What are cookies?

A cookie is a small piece of information that is stored on your browser by a web server. The cookie cannot be read by a web site other than the one that set the cookie. The cookies that we set will last only through a single session, or visit (these are called session cookies). As soon as you leave our web site or exit your browser, your cookie will expire.

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Can I sell a stock that is not already held in my account through the Online Trading system?

No, you may not sell stock that you do not already own in your account. The Online Trading system will block the sale of stock that is not held in your account at the time the order is submitted to the Online Trading system.

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Why don't all of my positions appear in the 'Select From Holdings' and 'Select From Watch List' drop-down menus?

For your convenience, only those securities which are eligible for online trading are displayed as a selection item in these drop-down menus.

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Are all stocks eligible for online trading?

Listed equities and NMS-Nasdaq equities are eligible for online trading. Non-NMS securities (i.e. small cap stocks, pink sheets, and bulletin board stocks) as well as stocks under $5, can NOT be traded on smithbarney.com. Please call your Financial Advisor advisor for assistance with these orders.

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How can I purchase a bond?

Bonds can be purchased online by conducting a search of our inventory through our Fixed Income Search Tool. Bonds displayed can be purchased by clicking on the individual bond description for additional bond details and then clicking on the purchase button to place an order.

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Why do I need to use the bond search tool to purchase a bond?

We sell bonds to our clients based on what is available in the firm's inventory. The search tool provides clients with a list of bonds that can be purchased.

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Why can't I sell bonds online?

Selling bonds online is not permitted. Sales of bonds can not be immediately executed due to the necessity of calculating the sale price on a bond by bond basis. Since there is a time delay to receive a bid price and an execution, sales are not permitted online.

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Why aren't partial executions possible for bond orders?

Bonds can be purchased in limited quantities based on the availability of the issue. If part of the bond is purchased by someone else while you are in the middle of your transaction, we will not execute any piece of your order since it may not be possible for you to purchase the full quantity you are requesting. Therefore you will be returned to the bond search tool where you can view updated bond availability.

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Why am I only able to purchase 250 bonds online?

Orders for more than 250 bonds must be done through our trading desk. Your Financial Advisor advisor can assist you with placing larger bond orders.

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What are the hours for bond trading?

Bonds can be purchased between 9:30 AM and 5:00 PM (EST). Outside of these hours, please call your Financial Advisor advisor for assistance with placing an order.

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How often are bond prices updated?

Bond prices are updated periodically throughout the day between the hours of 9:30 AM and 5:00 PM (EST).

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Can a bond order be modified before it is submitted?

The quantity of a new order can be modified before it is submitted. Once the order is submitted, it is immediately executed and can not be adjusted.

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What types of bonds can be purchased online?

US Treasuries and Agencies and Municipal Bonds can be purchased on smithbarney.com.

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Do you offer extended-hours trading?

We do not allow trading in special extended-hours markets. However, orders can still be entered 24 hours a day for regular session trading of Equities, Options and Mutual Funds. Any orders entered while the markets are closed will remain in pending status until regular session markets resume trading.

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