Jump to content



Photo

Paper Assets


  • Please log in to reply
1 reply to this topic

#1 nimblebear

nimblebear

    Welcome to the Dark Side !

  • Traders-Talk User
  • 6,062 posts

Posted 23 February 2007 - 05:46 PM

Just had a different thought. What would you do if you had a number of your stocks, kept through a broker like Schwab. And then something happened that would cause all of the records for everyone, electronic information to vanish...as in poof. I don't know what, if anything, could suddenly zap all of the electronic data at one particular brokerage (and I am just using Schwab as an example), but that certainly makes you think about the potential for losing evidence of ones wealth.
OTIS.

#2 arbman

arbman

    Quant

  • Traders-Talk User
  • 19,504 posts

Posted 23 February 2007 - 08:14 PM

All of the electronic financial information is generally backed up 1 or 2 times by an offsite location. All of the exchange trades for example are double recorded once in NY at the exchange and once more somewhere else, these back up sites are usually kept secret. But it is usually very hard to destroy the data. Of course, if the gov't can gain access to these private entities and vaults, then delibrately erases you off the books, it would be possible, but very very unlikely... - kisa