| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 446.1 | Are you sure Fidelity is doing business today | CADSYS::BOLIO::BENOIT | | Fri Apr 09 1993 11:06 | 4 |
| All the banks and markets are closed today for Good Friday. Don't even know
if Fidelity would be open.
michael
|
| 446.2 | Fido open today. FED closed. Guess who makes a profit? | VMSDEV::HALLYB | Fish have no concept of fire | Fri Apr 09 1993 13:44 | 12 |
| As far as Fido goes, they use the FED wire transfer system and THAT is
what is shut down today. Along with virtually all financial markets.
You might call it a "private religious holiday" but as far as the U.S.
financial system is concerned it's a public holiday. Fortunately we
don't have very many of those in the U.S.A. (Besides today, most of
Europe has Monday off, too. But not here.)
My wire transfer agreement with Fido is very restricted -- they only
wire money to my bank account, i.e., only use the FED. If your
agreement is like mine, very likely, then you are out of luck.
John
|
| 446.3 | Could be a bonus... | NECSC::EINES | CSC/MA SNA product support | Fri Apr 09 1993 15:35 | 5 |
| Both my brokers are closed too. I shouldn't complain though, at least
I'm not losing any money!
Fred
|
| 446.4 | | SDSVAX::SWEENEY | Patrick Sweeney in New York | Sat Apr 10 1993 18:03 | 25 |
| The federal goverment declares public legal holdidays for the District
of Columbia and for federal employees. Each state government declares
public legal holidays for its employees and for banks.
Self-regulating organizations like the New York Stock Exchange and the
National Association of Securities dealers declare their own holidays
as well.
Good Friday is observed in several states as a public legal holiday. If
your complaint is over the fact that it is a holiday, then your beef is
with the legislatures in those states.
Retail banking networks are 24x7x52 because of consumer demand, and
because they run largely unattended. If Fidelity can make your cash
balance available through Cirrus or any other network, there wouldn't
be a problem.
Brokerage money transfers typically involve a human in the loop to
verify serveral items on both the sending and destination side of a
wire transfer, the most important of which is verifying that you have
sufficient funds.
Western Union and American Express are expensive and inefficient ways
to send money. I doubt if any brokerage has a regular agreement with
them.
|