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Rule Amendments

  Versions
(2 versions)
 
Up to Dec 28 2014Dec 29 2014 onwards

19.11 Capital Requirement for Marginable Futures Contracts

(1) For the purpose of calculating counterparty risk requirements under the Notice on Risk Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences:
(a) "margin deficiency" referred to in the Notice on Risk Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences is the amount required for the Customer Asset Value to meet the Variation Margin and Maintenance Margin, and in the case where Customer Asset Value is not sufficient to meet Variation Margin, the margin deficiency is the amount of Maintenance Margin; and
(b) "negative equity" referred to in the Notice on Risk Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences is the amount required for the Customer Asset Value to meet the Variation Margin.
(2) For the avoidance of doubt, a Trading Member shall compute Total Risk Requirement for Marginable Futures Contracts in the same manner as prescribed in the Notice on Risk Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences.

Amended on 29 December 2014.