Investor Protection
Clearing
- If the position for which the account number correction is made is a day trade of futures contracts, the corrected account number for remittance for which the trader applies with the futures commission merchant shall be one for which a risk disclosure statement for day trading of futures contracts has been signed. When the clearing system handles the position adjustment, will the day trade code of position be transferred to the corrected account?
- After proceeding account number correction, should it be offset before close of market if there is any day trade position?
- Regarding the margin calculation of corrected account, if a trader is under SPAN margining, the margin should be collected at full amount for corrected account. However, it is practically impossible to perform margin calculation after combining position for incoming transfer with original position, thus is it possible to perform margin checks in new order margin requirements?
- If the position for which the
account number correction is made is a day trade of futures
contracts, the corrected account number for remittance for which
the trader applies with the futures commission merchant shall be
one for which a risk disclosure statement for day trading of
futures contracts has been signed. When the clearing system
handles the position adjustment, will the day trade code of
position be transferred to the corrected account?
It is not possible to transfer the corresponding day trade code of trading position when the current clearing system handles position adjustment. Therefore, futures commission merchants have to take charge of the positions involved in margin reduction to ensure that all positions are closed on the same day.
- After proceeding account number
correction, should it be offset before close of market if there
is any day trade position?
The day trade positions must be offset before the close of market on that day.
- Regarding the margin calculation
of corrected account, if a trader is under SPAN margining, the
margin should be collected at full amount for corrected account.
However, it is practically impossible to perform margin
calculation after combining position for incoming transfer with
original position, thus is it possible to perform margin checks
in new order margin requirements?
Since the margin should be collected at full amount for corrected account, margin required for corrected account apply to initial margin requirement for new order.
