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Non-Tech : CYBERTRADER
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To: Philip R Berber who wrote (1267)9/9/1998 7:27:00 PM
From: Jim Jones  Read Replies (1) of 3216
 
Regarding risk management:

I recently learned that SW Securities insures the cash pending investment in a trader's account only up to 100K. Their excess insurance policy which is intended to cover above and beyond SIPC maximums do not apparently extend to cash greater than 100k, but only to securities which exceed SIPC limits.
There are some brokerage firms such as E*trade who sweep this cash over into a money market. The cash is then converted to a security and is covered under the excess policy.

How does CyberTrader address this situation?
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