FUTURES CONTRACTS AND FUTURES CONTRACT OPTIONS ACCOUNTS

3259. Letters of undertaking

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    1. Instead of a futures contract or futures contract option trading agreement, a Dealer Member may obtain a letter of undertaking for accounts where the client is:

      1. an acceptable institution,

      2. an acceptable counterparty
      3. a regulated entity, or
      4. another adviser registered under any applicable laws relating to trading or advising in respect of futures contracts or futures contract options.
    2. The letter of undertaking must state that: 
      1. the client agrees to abide by IIROC’s requirements and the requirements of any entity through which futures contracts or futures contract options are traded or cleared, including complying with position and exercise limits, and
      2. if the client has an account that is charged interest on a debit balance, the conditions under which transfers of the client’s funds, securities or other property may be made between accounts, unless these conditions are acknowledged by the client in another document.

    There is no history log for this rule.

    There is no history log for this rule.