Ability to transfer cross- or multi-listed stocks directly between accounts

tmuirhead

There are many stocks that are cross-listed on different exchanges in different currencies where you are able to move the stocks in your investment account but cannot do this efficiently in Quicken. Examples include Royal Bank of Canada (TSX: RY and NYSE: RY). There are some stocks listed on European or Asian exchanges as well as Canadian and/or American (such as Barrick Mining, TSX: ABX, NYSE: B and Frankfurt: ABR0).

The primary reason for wanting to do these moves is that purchasing a stock in one currency, moving the stocks to the other cross-listed currency account and then selling in that currency. This is a low- or no-cost option to "buy" funds in a different currency. Downside to actually executing this is the lag in the buy/sell process and the share transfer process at the brokerage. The exchange rate should be as close as possible to the real exchange rate because the automated trading platforms would pick up on any arbitrage opportunities and quickly close the gap.

The current Quicken method is to buy the stocks in one currency, "sell" them with the cash transferring into the other account and then "buying" the stocks back to then record the actual sale. You have to do guesses as to the share price on both sides of the transaction. Could do a cash transfer of the amount but it wouldn't show the stocks actually moving.

Chris_QPW

And how would Quicken know that these are the same security?