6A.3 Margin Management for Clearing Members In Respect of Margins from Customers for Marginable Futures Contracts

CDP Clearing Rules

6A.3 Margin Management for Clearing Members In Respect of Margins from Customers for Marginable Futures Contracts

Amended on 21 January 2013 21 January 2013.

6A.3.1

Except for trades which reduce Customer Required Margins, a Clearing Member must not accept new orders or new trades in Marginable Futures Contracts for clearing from any customer unless:—

(1) the minimum Initial Margins for the new trade are deposited or the Clearing Member has reason to believe that the minimum Initial Margins will be deposited within two Market Days from the trade date (T+2); and

(2) the Customer Asset Value complies with the Customer Required Margins, or the Clearing Member has reason to believe that the additional margins to be deposited pursuant to Rule 6A.3.2 will be deposited within two Market Days from the trade date (T+2).

Added on 23 January 2009 23 January 2009 and amended on 21 January 2013 21 January 2013.

6A.3.2

If the Customer Asset Value falls below the Customer Required Margins, the Clearing Member must call for additional margins from the customer to bring the Customer Asset Value to no less than the sum of Initial Margins and Customer Variation Margins within two Market Days from the date the Customer Asset Value falls below the Customer Required Margins.

Added on 23 January 2009 23 January 2009.