Recent content by jackhappy2

Thanks so much for your helpful detailed thoughts Swan =)

IB = Interactive Brokers (clearing firm)? Are you suggesting that Interactive Brokers would just slide in and replace Penson, and all of Penson's introducing brokers (Lightspeed, Sogotrade, Zecco, etc.) would continue to function as normal after some potential delays? Is there any chance...

Sorry, it looks like the system is delaying all my posts, so I was trying different things to see if the problem was on my end. - Posted at 1/7/2012 10:23 am

Is this how the process would look? If Penson goes under, all of the brokerages that use them would come to a halt. It might take months for the Penson to be sold and SIPC to pay out claims. After that process is finished, would each brokerage would take their customer accounts to a new...

Is this how the process would look? If Penson goes under, all of the brokerages that use them would come to a halt. It might take months for the Penson to be sold and SIPC to pay out claims. After that process is finished, would each brokerage would take their customer accounts to a new...

Is this how the process would look? If Penson goes under, all of the brokerages that use them would come to a halt. It might take months for the Penson to be sold and SIPC to pay out claims. After that process is finished, would each brokerage would take their customer accounts to a new...

Just to clarify: Penson is not FDIC insured, but they are SIPC insured, right? I found this on the SIPC website: "If sufficient funds are not available in the firm's customer accounts to satisfy claims within these limits, the reserve funds of SIPC are used to supplement the distribution...