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The fine is not a good thing, but this chump change to IB. They are part of
the TimberHill trading group and their balance sheet, if you wanted to do
the homework, is on file with any exchange they are a member of.
-----Original Message-----
From: FXTrader [mailto:fxtrader@xxxxxxxxxxx]
Sent: Thursday, June 13, 2002 10:14 AM
To: Realtraders
Subject: [RT] IB and $230,000 Fine
That is a hefty sum of money. The question I would be asking is this: How
does this affect their financial solvency? B/D's that have become insolvent
in the past proved to be a mess. It can take months for traders to gain
access to their accounts. No, the NASD will not close your position out for
you. Someone trading at this firm should ask for a recent balance sheet and
how they are going to pay the fine. I know they are not self-clearing, but
insolvency can still be a real problem.
Investor Beware ????? Heard that before?
Rich C.
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