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At 9:09 AM +0100 9/5/01, John Lynch wrote:
>5) Who holds your money when you trade with TSPro (that is, if they go bust
>do I lose money?)
This concerned me also. I found the following on their website.
Bob Fulks
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7. What account protection does TradeStation Securities offer?
TradeStation Securities offers the account security you need -- and
expect -- from an online brokerage that caters to the active and
professional trader. TradeStation Securities is a member of the
Securities Investor Protection Corporation (SIPC), which provides
protection*** for customer accounts up to $500,000, of which $100,000
may be in cash. In addition, TradeStation Securities clears through
Bear, Stearns Securities Corporation for all its custody and clearing
issues associated with its brokerage transactions. Bear Stearns has
obtained an excess securities bond issued by Travelers Casualty &
Surety Company that is supplemental to SIPC protection and provides
protection up to the amount of the covered account's net equity in
excess of the primary SIPC protection. This gives you an unlimited
amount of protection for your account.***
3. How secure are my funds? Who is the Clearing Firm?
Our futures clearing firm is Lind-Waldock. The firm was founded in
1965 and is one of the world's largest futures firms, maintaining a
capitalization level that is in excess of the amount required by
regulations.
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