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Posted by John Pollard on April 25, 2008, 9:34 pm
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TomYoung wrote:
> wrote:
>> TomYoung wrote:
>>> I emailed Etrade to ask why I didn't get prices for 4/21 -
>>> 4/22 when I
>>> did get prices for 4/14 - 4/18, and today (4/23), as it
>>> turns
>>> out.
>>
>>> An Etrade tech person called me and said that prices *don't*
>>> come from
>>> Etrade, but from Intuit. He believes that Intuit sets up a
>>> customer
>>> profile when it queries a FI and records CUSIP identifiers
>>> that it
>>> uses to pass prices down to Quicken. Ergo, the problem with
>>> the lack
>>> of price downloads was not with Etrade, not with something
>>> on
>>> my end,
>>> but with Intuit.
>>
>> Based solely on the info you've provided, I tend to think
>> you're
>> jumping to a conclusion. It certainly is possible that
>> Intuit
>> is getting it wrong, but if so, they're doing it in an
>> uncommon
>> and unlikely way.
>>
>> As far as I know, the OFX specs (that control the way in
>> which
>> downloads are done and their content) has always allowed for
>> downloads from investment financial institutions to contain
>> "holdings" in addition to transactions. And I think the OFX
>> spec actually recommends that holdings be provided.
>>
>> It is the downloaded holdings that contain prices for the
>> securities held at that institution, and every time I've ever
>> checked, my downloads do include those holdings (including
>> the
>> prices).
>>
>> The holdings also include an "as of" date, and that date is
>> not
>> always the date of the download. I downloaded from Smith
>> Barney
>> on April 23rd at about 7:30pm CDT. But my downloaded
>> holdings
>> were dated April 22, so the bonds I hold at Smith Barney did
>> not
>> get prices for the 23rd. [I did not set the download up as a
>> test, so I did not check to see if my prices for the 22nd
>> were
>> changed as a result of the download.]
>>
>> I certainly don't attribute that lack of bond prices on the
>> 23rd
>> to Intuit; if Smith Barney did not provide holdings for the
>> date
>> I downloaded, Intuit could hardly have compensated for that.
>
> I may have the *wrong* conclusion but if so it's because what
> the tech
> told me was wrong, not because I'm jumping to it.
My reply said: "Based solely on the info you've provided"....
> He was very clear - but maybe incorrect - that prices came
> from
> Intuit,
I suggest you check with your fi again.
If Quicken/Intuit has access to (and has agreed to provide) bond
prices from a source other than the holdings provided by your
financial institution, it is news to me ... I anxiously await
proof of this assertion.
> I've never looked looked at the OFX specs so I'm not in a
> position to
> answer your response with any specifics, but the information
> from the
> FI clearly goes through the Intuit servers so there's at least
> the
> possibility the Intuit can insert a price.
The fact that the data passes through Intut's servers doesn't
provide any evidence that Intuit has separate access to bond
prices. Indeed, I think if you do some research, you'll find
that bond prices are jealously guarded by financial institution
... and no one can download them via Quicken's price download.
Getting bond prices independently from your broker costs money.
I do not believe that Intuit intends to provide independent
access (access not provided by your financial institution) to
bond prices. I welcome legitmate evidence to the contrary.
> Maybe we should establish a database of prices of widely-held
> bonds
> from different FI's and see if we can crack the code.
I have no objection to this, or any other, means of finding the
source of a problem. If someone wants to start the ball
rolling, I will contribute whatever I can ... as long as it
doesn't require me to stay up later than I like. :)
But for starters, I suggest that those who are concerned about
not getting bond prices from their fi, can start the ball
rolling. They can stay awake longer than some of us are willing
to, and download from their financial institutions late at
night. It those users download late at night, and do not get
bond prices; let them check their OFXlog to see what the date of
their "holdings" is. It any user finds their downloaded
holdings dated on the date they downloaded, but their bond
prices do not get updated for that same date ... please post
here.
--
John Pollard
First initial underscore Last name at mchsi dot com
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