IB now has Additional Insurance / S&P rating

Discussion in 'Retail Brokers' started by def, Jul 31, 2001.

  1. def

    def Interactive Brokers

    Posting here because there was talk about the lack of IB offering additional insurance coverage over SIPC. It now has coverage (more coverage is available for an additional charge). Details:

    IB Increases Account Protection Coverage

    Effective immediately, your total securities account equity protection is now $10 million, $1 millon of which is for cash protection. Your first $500,000 of coverage is provided by SIPC, of which up to $100,000 covers cash. American International Group (AIG) provides the remaining $9.5 million coverage, of which $900,000 is for cash coverage.

    SIPC and AIG provide coverage against loss of securities and cash, not against market depreciation, fluctuation in market value of your securities or a trading loss.

    Timber Hill LLC Receives an Investment Grade Rating

    On July 24, Standard & Poor's assigned Timber Hill LLC an investment grade rating. Timber Hill LLC is the largest affiliate of the Interactive Brokers Group. For more information go to: http://www.interactivebrokers.com/html/companyInfo/stable.html

  2. impressive.
  3. blueem


    Does this apply to futures, as well, or is it solely for equities?
  4. def

    def Interactive Brokers

    As industry practice, it applies only to equities. Hopefully the investment grade rating of Timber Hill LLC will give you some additional comfort.