If we were smart, we'd get organized and get Lloyds to quote on every major broker. Might be interesting to discover who the insurance Pros view as most/least problematic.
Is cash no longer fully insured in an IB account ?
- Thread starter Damrak
- Start date
If we were smart, we'd get organized and get Lloyds to quote on every major broker. Might be interesting to discover who the insurance Pros view as most/least problematic.
Good idea. I am in London, if no one else volunteers I'll try my luck.
If by "secure" you mean "not pledged to someone other than yourself" and/or SIPC-protected you may wish to study the rules related to:
--accounts with foreign subsidiaries of IB vs. US-based accounts
--Portfolio Margin accounts vs. Reg T
These issues should be considered by customers of all BD's and FCM's, especially when the company acts as both a BD and an FCM.
You may also wish to confirm with the SIPC that your foreign currency positions are SIPC- covered.
This node from IB says that they are.
http://ibkb.interactivebrokers.com/node/655
But this blogger suggests that foreign currency is ineligible for SIPC coverage.
http://www.goodfinancialcents.com/sipc-coverage/
So this may be worth a second look.
Trading Technologies has sued/sues every trading platform provider that has a DOM.
Ninjatrader users only have to pay TT fees if they use the SuperDOM, no TT fees for regular DOM.
IB changed their BookTrader DOM to comply with TT's lawsuit.
Read the ET thread here:
http://www.elitetrader.com/vb/showthread.php?threadid=201562&perpage=6&pagenumber=1
Ok thanks, But that's not true, they did not sued every trading software with a DOM, only a few of them.
See
http://www.finextra.com/news/fullstory.aspx?newsitemid=21049
"TT has numerous lawsuits against brokerages and other vendors over patents related to its MD Trader product, the order-entry screen incorporated in its X_Trader software. "
Besides those mentioned on the article, a Google search will find lots more, including PFG Best etc.
Only a few of them ?
Here is a partial list of the companies TT has sued over the years:
eSpeed, TradeStation, NinjaTrader, Interactive Brokers, Cunningham Trading Systems, LLC, Sungard Data Systems, Inc., Sungard Investment Ventures LLC, GL Trade Americas, Inc., FuturePath, BGC Partners, CQG, Rosenthal Collins Group, LLC, Strategy Runner, TradeMaven Group, Patsystems PLC, NYFIX, REFCO, TradeHelm, KingTree Trading, Goldenberg, Hehmeyer & Co. (GHCO), Man Group PLC, TransMarket, FFastFill, Rolfe & Nolan Systems Inc, RTS, Advantage Futures, Peregrine Financial Group, Inc. (PFG)
According to The Patent Law Blog TT filed 17 lawsuits in the just the 3 years from 2005-2007 for Patent No. 6,766,304
http://www.patentlyo.com/patent/2007/09/most-litigated-.html
Yeah, there are more than 17 software packages copying the TT dom 