Content Options

Content Options

View Options

Status: You are viewing the version of the handbook as on 2007-10-31.

initial margin

      1. (1) (in COLL and CIS) cash or other property deposited in accordance with the rules of a derivatives market.
      1. (2) (in COB) the amount which under the rules of the relevant exchange or clearing house the firm or an intermediate broker would be required to deposit in cash as a fidelity deposit in respect of all the client's open positions in margined transactions at that time, irrespective of any unrealised profit or loss on such positions, on the assumption that those transactions were the only transactions undertaken under the rules of that exchange or that clearing house by the firm or the intermediate broker at that time.