If Zecco Trading was to go out of business, what would happen to my cash and stocks? Do you provide any insurance coverage?
Zecco Trading’s clearing firm, Penson Financial Services, Inc. is a member of the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $100,000 for claims for cash). An explanatory brochure is available upon request or at www.sipc.org or by calling (202) 371-8300. Penson Financial Services, Inc. has also acquired “Excess SIPC” insurance from a third party insurer to protect client accounts up to their net equity for loss of securities and cash held at Penson Financial Services, Inc., up to an overall firm aggregate of US $200,000,000 over all customer accounts. This “Excess SIPC” protection is in addition to the protection provided by the Securities and Investors Protection Act, which is administered by SIPC and is subject to certain conditions and limitations, details of which are available upon request. Note SIPC and Excess SIPC provide coverage against loss of securities and cash, not against market depreciat
