5410. Securities subject to redemption call or offer

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    1. The minimum Dealer Member inventory margin and client account margin requirements for securities subject to redemption call or offer are as follows:

      Conditions

      Minimum margin required

      Category (i)

      Securities called for cash redemption according to their terms and conditions

      Category (ii)

      Securities subject to a binding cash offer, for which all conditions have been met

      Cash offer for all the issued and outstanding class of securities

      No margin required provided the market value of the position is no greater than the amount of the cash offer

      Cash offer for a fraction of the issued and outstanding class of securities

      For fraction subject to cash offer, no margin required provided the market value of the fractional position is no greater than the amount of the cash offer.

      For remainder of the position, normal margin (as determined elsewhere in Rules 5200 through 5900) would apply.

    5411. - 5419.  Reserved.

    There is no history log for this rule.

    There is no history log for this rule.