New Tradestation credit balance rule

M

mktman

Per rule 436 Tradestation implementing eod cash balance sweeps into a money market fund. BUT because there platform wont recognize this mmf and its balance that money wont be available to trade the next day. Have to call the next day, liquidate account then wait for the following day. This to happen everyday.

http://www.nyse.com/Frameset.html?displayPage=http://rules.nyse.com/NYSE/Help/Map/rules-sys436.html

Looked at Schwab and many other brokers most have sweeps eod that are auto in and out nobody has to call. Whoever dreamed this up is a genius.

Can you see mass exodus coming?

Im already looking at among other Schwab streetsmartpro
 
Quote from mktman:

Per rule 436 Tradestation implementing eod cash balance sweeps into a money market fund. BUT because there platform wont recognize this mmf and its balance that money wont be available to trade the next day. Have to call the next day, liquidate account then wait for the following day. This to happen everyday.

http://www.nyse.com/Frameset.html?displayPage=http://rules.nyse.com/NYSE/Help/Map/rules-sys436.html

Looked at Schwab and many other brokers most have sweeps eod that are auto in and out nobody has to call. Whoever dreamed this up is a genius.

Can you see mass exodus coming?

Im already looking at among other Schwab streetsmartpro
More...

In case you didn't know....StreetSmartPro is based on Cybertrader....a company Schwab bought several years ago. I used Cybertrader years ago and really liked the platform.

I use TradeStation for charting only....can't stand the Matrix.

VSTscalper
 
In addition, I wish TradeStation would raise their equity credit interest rate, which was 1.125% for amounts over $10,000, in March.
 
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