The minimum Dealer Member inventory margin and client account margin requirements calculated for convertible and exchangeable equity securities may be limited to an overall maximum margin requirement calculated as follows
Minimum margin required
Equity security currently convertible into or exchangeable for another security
The sum of :
- the margin required under Rule 5300 for the underlying security,
- any excess of the market value of the convertible or exchangeable equity security over the market value of the underlying security.
5331. - 5339. Reserved.