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Topic: Maintenance margin

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Futures contract

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	Margin Trading
		The margin agreement states that you must abide by the rules of the Federal Reserve Board, the New York Stock Exchange, the National Association of Securities Dealers, Inc., and the firm where you have set up your margin account.
		Before trading on margin, the NYSE and NASD, for example, require you to deposit with your brokerage firm a minimum of $2,000 or 100 percent of the purchase price, whichever is less.
		The 25 percent is called the "maintenance requirement." In fact, many brokerage firms have higher maintenance requirements, typically between 30 to 40 percent, and sometimes higher depending on the type of stock purchased.
	www.sos.nh.gov /securities/margin.htm (1386 words)

	Margin Requirements
		An understanding of margins, and of the several different kinds of margin, is essential to an understanding of futures trading.
		Maintenance margin: If and when the funds remaining available in your margin account are reduced by losses to below a certain level, known as the maintenance margin requirement, you will be required to deposit additional funds to bring the account back to the level of the initial margin.
		For example, if the initial margin for gold is $2,000 and the maintenance margin is $1,500, you would need to have $2,000 allocated from your account as initial margin to trade the gold contract.
	www.heritagewestfutures.com /margin-requirements.html (364 words)

	INDIA WEB TRADE (Site not responding. Last check: 2007-11-06)
		The term maintenance requirement is used to describe the amount of equity that you need to have or maintain in your margin account at all times.
		A maintenance margin call is caused when you hold a stock position on margin (either long or short) and that stock moves against you enough to drop your equity below the minimum maintenance required for that position.
		In general the best way to avoid margin calls is to know and understand the risks of using margin, to know the margin rules, and to keep track of your account balances, positions and trades very carefully.
	www.indiawebtrade.com /trading_on_margin.htm (2958 words)

	ChoiceTrade.com - low cost online and direct access trading (Site not responding. Last check: 2007-11-06)
		Borrowing on margin is governed by the Federal Reserve's Regulation T and allows you to obtain a loan for up to 50% of the market value of marginable securities in your ChoiceTrade account.
		Securities may be assigned higher maintenance margin requirements for subjective reasons if, in the opinion of ChoiceTrade and/or our clearing firm, the security poses a risk due to its volatility and/or lack of liquidity.
		Maintenance Excess is calculated by subtracting your Margin Maintenance Requirement from your Margin Equity.
	www.choicetrade.com /faq_margin.shtml (2295 words)

	Integrity Trading- Margin
		Margin Eligible (also known as marginable): In order to enter a position using a margin loan, the security must be margin eligible.
		Maintenance Requirement: The term maintenance requirement is used to describe the amount of equity that you need to have, or maintain, in your margin account at all times.
		Maintenance Excess (also known as excess equity): This term refers to the amount of cash left over after the maintenance requirement is deducted from your equity.
	integritytrading.com /commissions/margin (2976 words)

	Understanding Margin and Maintenance (Site not responding. Last check: 2007-11-06)
		These deposits are known as margin and maintenance and are established by the exchange on which the commodity trades.
		If margin for corn is $540 and maintenance is $400, this means that you need to have at least $400 in your account for each corn contract you control.
		Margin and maintenance amounts are not fixed and can fluctuate depending on the behaviour of the commodity.
	www.mrswing.com /artman/publish/article_132.shtml (579 words)

	Harrisdirect - Margin Tutorial (Site not responding. Last check: 2007-11-06)
		Margin accounts are required to establish and maintain certain levels of equity.
		Each security has a maintenance requirement assigned to it and the cumulative total of these requirements is the minimum amount of equity that an investor is expected to have in the account.
		Margin refers to the extension of credit or a loan by a broker to an investor for the purpose of buying or holding securities.
	ibs.harrisdirect.com /um_TF.htm (1806 words)

	CompassWeb Brokerage - Investment Glossary (Site not responding. Last check: 2007-11-06)
		Currently, NYSE maintenance requirements are 25% in a long account (client has long positions) and 30% in a short account (client has short positions generated from selling short).
		Margin accounts are governed by Regulation T of the Federal Reserve Board, by the NYSE, and by the brokerage firm's house rules.
		A Regulation T margin call is sent when a purchase is made and a maintenance margin call is sent when the margin account's equity falls below specific levels.
	broker.compassweb.com /compass/ilMMa.htm (1136 words)

	Compliance & Credit Policy Notice (Site not responding. Last check: 2007-11-06)
		A decline in the value of securities that are purchased on margin may require you to provide additional funds to the firm to avoid the forced sale of those securities or other securities in your account.
		Some investors mistakenly believe that a firm must contact them for a margin call to be valid, and that the firm cannot liquidate securities in their accounts to meet the call unless the firm has contacted them first.
		Maintenance Calls are typically due in 5 business days and are issued for an amount by which the Excess Equity is negative.
	customer.eclearinginc.com /mktd/notices.html (2309 words)

	Joint Proposed Rule: Customer Margin Rules Relating to Security Futures
		provides that the margin requirements for security futures must be consistent with the margin requirements for comparable exchange-traded options, and the initial and maintenance margin levels for a security future may not be lower than the lowest level of margin, exclusive of premium, required for any comparable exchange-traded option.
		To determine the maintenance margin required at the end of a particular trading day for an uncovered, short put or call option, the price used is the price at which the underlying stock closed at the end of such trading day.
		The required initial and maintenance margin for short, at-the-money listed option contracts, where the underlying instrument is either an equity security (such as a stock or an instrument immediately convertible into a stock), or a narrow-based index, are 100 percent of the option proceeds plus 20 percent of the underlying security or index value.
	www.sec.gov /rules/proposed/34-44853.htm (15236 words)

	usdirect - Risk (Site not responding. Last check: 2007-11-06)
		Margin substantially increases the risk of losses, therefore it is not appropriate for all type of accounts.
		Firms have the right to set their own margin requirements-often called "house" requirements-as long as they are higher than the margin requirements under Regulation T or the rules of the NASD and the exchanges.
		In today's market, some firms have raised their maintenance margin requirements for certain volatile stocks (such as stocks of companies that sell products or services via the Internet) to help ensure that there are sufficient funds in their customer accounts to cover the large swings in the price of these stocks.
	www.taib.com /risks.htm (5521 words)

	Regal Discount Securities [ Margin Rates ] (Site not responding. Last check: 2007-11-06)
		Margin maintenance ranges from 30% - 100% depending on the particular stocks in an account.
		Margin Maintenance is higher for concentrated accounts and may vary per security.
		A decline in the value of securities that are purchased on margin may require you to provide additional funds to the firm that has made the loan to avoid the forced sale of those securities or other securities in your account.
	www.eregal.com /margin_rates.htm (806 words)

	Click Bursatil - Home
		The day trading account is restricted to day trading buying power of two times minimum maintenance margin excess based on the customer's daily total trading commitment, beginning on the trading day after the day trading buying power is exceeded until the earlier of when the call is met or five business days.
		If the day trading margin call is not met by the fifth business day, the account is further restricted to trading on a cash-available basis for 90 days or until the call is met.
		Buying power is reduced to two times minimum maintenance margin excess and day trading margin calls would be calculated on the Reg T requirements of every opening position.
	www.clickbursatil.com /rules.html (1835 words)

	SRO Rulemaking: SR-NYSE-99-47
		For day trades in equity securities, the required special maintenance margin is 25% of the cost of all day trades during the day.
		For non-equity securities, margin required is the same as maintenance margin required pursuant to other provisions of NYSE Rule 431.
		If the special maintenance margin call is not met within five business days from the date the special margin deficiency occurred, pattern day traders will be restricted to day trading on a cash available basis only for 90 days, or until the special call for additional funds is met.
	www.sec.gov /rules/sro/ny9947n.htm (2434 words)

	Introduction to Margin Regulations (Site not responding. Last check: 2007-11-06)
		This course covers margin accounts and requirements, and also explains the rules and regulations that govern trading equities and bonds on margin.
		The course is intended for margin, compliance, and credit control personnel, as well as operations professionals who interface with margin/credit functions.
		Identify the types of bonds that are marginable.
	www.srgb.org /Introduction_to_margin_regulation.html (194 words)

	Web Tech Trends: How To Margin A Commodity Futures Account (Site not responding. Last check: 2007-11-06)
		When you read this mini-course on how to margin a commodity futures account you will easily demystify the maintenance of a commodity futures account and understand how and why a commodity margin call is created and subsequently disposed of.
		Variation/Maintenance Margin Requirement - The equity point at which a margin call is issued to bring the account back to the initial/original margin level.
		Once your maintenance margin level is breached, you must bring the account back up to full initial margin of $5400 again.
	www.webtechtrends.com /archives/2004/12/how_to_margin_a_1.html (985 words)

	Maintenance Margin (Site not responding. Last check: 2007-11-06)
		In the context of the NYSE and NASD, after an investor has bought securities on margin, the minimum required level of margin is 25% of the total market value of the securities in the margin account.
		Second, the initial margin of 50% is required for a trade to be entered.
		Finally, the maintenance margin says that an equity level of at least 25% must be maintained.
	www.investopedia.com /terms/m/maintenancemargin.asp (234 words)

	Short Sales and Margin Purchases
		This margin requirement at the time of initial purchase, which is termed the initial margin is larger than the margin requirement at a later time.
		At this point, a margin call will be made by the broker, requiring the investor to add more liquid funds to his account, until the AM is greater than or equal to the MM.
		The initial margin requirement is 50% and the maintenance margin is 30%.
	webpage.pace.edu /pviswanath/notes/investments/shortsal.html (1592 words)

	RML Trading- Margin
		Currently at Penson Financial Services Inc. (the clearinghouse used by RML Trading), the margin rate is 4-to-1.
		In order to understand the margin rules set forth by RML Trading and our clearing firm Penson Financial Service, you must understand the following terms as they are used within the context of the margin rules.
		Aside from making profitable trades, protecting your account from margin calls is extremely important in the overall management of your RML Trading account.
	rmltrading.com /commissions/margin (2976 words)

	Margin I: Introduction to Margin Regulations - Online (Site not responding. Last check: 2007-11-06)
		Additional Objectives: Explain how to account for multiple margin account transactions on the same day. Identify the rules of liquidation/withdrawal.
		Calculate when a customer will incur a maintenance margin call on long positions. Calculate when a customer will incur a maintenance margin call on short positions.
		Identify the types of bonds that are marginable.
	www.ftknowledge.com /courses/opst_1005.html (270 words)

	ALAHLIBrokerage - Investment Glossary
		See: House Call ; House Maintenance Requirement ; Margin ; Margin Account ; Margin Call ; Margin Requirement ; Margin Security ; Minimum Maintenance Requirement ; Sell Out Procedures ; Selling Short
		Margin Requirement ; Margin Security ; Special Miscellaneous Account
		See: House Maintenance Requirement ; Initial Margin Requirement ; Margin ; Margin Account ; Margin Security ; Minimum Maintenance Requirement ; Regulation T ; Selling Short
	www.alahlibrokerage.com /ncbank/invest_glosry_MMa.htm (1394 words)

	Ryan Beck & Co., Inc. - Investment Glossary
		An account with a brokerage firm that allows its clients to buy securities with money borrowed from the broker.
		See: Margin ; Margin Agreement ; Regulation T
		See: Federal Reserve Board ; Margin ; OTC Margin Stock ; Regulation T
	www.ryanbeck.com /invest_glosry_MMa.htm (1515 words)

	BIGJOBSEARCH: Repair/Maintenance/Service
		Job description is as following: Maintenance VIII General:Perform all tasks necessary to maintain safe, proper, productive and healthy conditions of the facility, grounds and equipment related to individual trade.
		Duties and Responsibilities - Responsible for maintaining calendar detailing preventative maintenance schedules for equipment and building systems; directs work flow of contract operating engineers to ensure adherence to schedule, proper procedures in accordance with state and local laws and recommends schedule revisions where appropriate.
		Accurately maintains van inventory and coordinates van maintenance schedules, to ensure vehicle is kept in good repair.
	www.bigjobsearch.com /repair.html (10750 words)

	Financial Glossary (Site not responding. Last check: 2007-11-06)
		A set minimum margin that a customer must maintain in his margin account.
		FR : couverture de maintien, marge de maintenance.
		By using this service, you agree not to make copies of the data other than retrieving isolated
	tradition.axone.ch /ViewTerm.cfm?TID=228 (115 words)

	[No title]
		Lets stick with the most conservative: Assets Liabilities Plus Owners Equity.
		Cash $60,000 Short Position in the Stock $60,000 Tbills 30,000 Equity 30,000 Maintenance Margin (25%) Suppose the stock rises in value from $60 per share to $72.
		¹W2 /ý5note: the legal minimum is 50% intial margin* and 25% . . . 5 . 6ûÀÿÿTimes New Roman4-ð. \Ë>¹a2 *ý
	pages.stern.nyu.edu /~ctrzcink/margin.ppt (225 words)

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