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Strategies & Market Trends : DAYTRADING Fundamentals
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To: keith massey who wrote (1157)6/20/1999 7:42:00 PM
From: Teresa Lo  Read Replies (2) of 18137
 
Well, the "know your client" rule was instituted in the days of full service brokers, in an effort to protect clients against brokers who recommended investments that weren't suitable to a client's stated objectives. Full service firms with brokers who actually know their clients do not go through this check every time a client enters an order, because they already know them.

After for foreign exchange, you can always have U.S. and Canadian funds accounts and trade back and forth between the two and avoid the foreign exchange problems. However, I don't think most discount firms do the type of cross margining.
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