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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: KymarFye who wrote (9951)4/11/2002 10:07:19 PM
From: OX   of 12617
 
K,

i believe LPS5 was laughing so hard because YxY thot he could actually know ahead of time to liquidate and wire his money out. Gee, if things like this were only so easy ;-)

in your "hypothetical", u have no cash attributable to SIPC (it's in a mmkt, supposedly not owned by the broker, so its a security). I'll let LPS5 handle the tougher question of how long it takes for u to get ahold of your securities that is at clearing firm (that is not the broker and) that is not in trouble. probably takes a little time, but not as bad as if your broker were self-clearing is my guess.

The "tied up for years" part is if u are depending on SIPC insurance to get your CASH back.
and as I said, don't count on getting it back dollar on dollar.
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