No. of Recommendations: 1
Another point to mention is that IB is a LOUSY place to hold a bond that has any kind of special corporate action.

1) IB has no bond desk and they are not proactive in many cases

2) When there are corporate actions and you challenge them about these, they almost always get it wrong.

3) You have to fight actively with them proving to them that their reading of some announcement is incorrect to get them to take any action.

I spent six months with them explaining how Bloomberg had made a data entry error on a bond description, and something they classified as 144A was actually freely tradeable. It actually took my making phone calls to Deutsche Bank and getting names and phone numbers of people they could verify the facts with to get them to change.

IB will spend five minutes to solve every problem, and their solution 90% of the time is whatever easy answer makes the problem go away (for them not for you).
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