Originally posted by espiaz
hi
@Cleo, thanks for all the great breakfasts and news every morning, your morning openings have been part of my day for the last year or so. Just out of curiosity who do you trade with?
Also a question for all those busy DTs: how do you deal with all the CHESS holding statements, seems a huge waste of paper when buying/selling and not holding for LT, I suppose it's just part of the business side of things but it's something I've been wondering for sometime
You have to hang onto those
@espiaz - It's a legal requirement for your broker to send you a paper statement of your holdings and the movements of "on and off". It can also resolve off market transactions such as rights issues and change of Co. names and consolidations etc. for taxation purposes - don't get these confused with the confirmation notes for each trade which should be electronic, you should print these out or store them as well.
Last time I looked it was seven years to keep all this stuff, although I heard five was now the rule.
It's not much to get a small cabinet for paper files and it is a nuisance but it's an even bigger nuisance when you can't tell or remember where you ended up getting 750 shares in a Co. you have no recollection of dealing with. Small price.
thanks @Cabbie and @Quantum Torus, have a nice and productive day : )
