money held with tradestation

[breadman]

Hello all,
I hope someone can help me.
I have opened an account with tradestation and have just placed money in the account.
I have just received a letter telling me that NYSE RULE 436 prohibits exchange members from paying interest on free credit balances that are not being held for investment purposes.They have told me that the free credit balance will be swept into a money market fund.
I have a choice of 3, which one is the safest
daily income money market fund
daily income us government fund
daily income municipal money market fund

I must also give notice to liquidate the money market fund the day preceding the one on which I wish to trade.
I want the money to be their every day so that I can trade whenever I wish.
What does everyone else do that uses their money everyday to trade.

thanks,
breadman

 

[BSD]

I'd say US government fund on the grounds that the US government can't go bankrupt, while a bank held money market- or city held municipal fund can.

Us government fund is my choice.

 

[pedro01]

Cash would be my preference.

Use your trading to get a return on your capital and don't let anyone else do anything with it.

 

[breadman]

thanks

 

[CFDplayer]

NYSE Rule 436 (Interest on Credit Balances) and Its Interpretation

FINRA is proposing to rescind NYSE Rule 436 and its Interpretation
as it has become outdated and is no longer applicable to the current
business models of members. There is no comparable NASD Rule.






[Federal Register: July 14, 2008 (Volume 73, Number 135)]
[Page 40403-40407]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-58103; File No. SR-FINRA-2008-036]


Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing of a Proposed Rule Change Relating to
the Incorporated NYSE Rules

July 3, 2008.