IB now has Additional Insurance / S&P rating

[def]

Posting here because there was talk about the lack of IB offering additional insurance coverage over SIPC. It now has coverage (more coverage is available for an additional charge). Details:

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IB Increases Account Protection Coverage

Effective immediately, your total securities account equity protection is now $10 million, $1 millon of which is for cash protection. Your first $500,000 of coverage is provided by SIPC, of which up to $100,000 covers cash. American International Group (AIG) provides the remaining $9.5 million coverage, of which $900,000 is for cash coverage.

SIPC and AIG provide coverage against loss of securities and cash, not against market depreciation, fluctuation in market value of your securities or a trading loss.

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Timber Hill LLC Receives an Investment Grade Rating

On July 24, Standard & Poor's assigned Timber Hill LLC an investment grade rating. Timber Hill LLC is the largest affiliate of the Interactive Brokers Group. For more information go to: http://www.interactivebrokers.com/html/companyInfo/stable.html

 

[Cdntrader]

impressive.

 

[blueem]

Does this apply to futures, as well, or is it solely for equities?

 

[def]

As industry practice, it applies only to equities. Hopefully the investment grade rating of Timber Hill LLC will give you some additional comfort.