5561. Margin for hedged positions

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    1. Subject to subsections 5561(3) and 5561(4), the minimum Dealer Member inventory margin and client account margin required for hedged positions resulting from purchases of securities trading on a when issued basis that are subsequently sold on a when issued basis is the normal margin required for a long position in the security.

    2. Subject to subsections 5561(3) and 5561(4), the minimum Dealer Member inventory margin and client account margin required for hedged positions resulting from purchases of securities trading on a when issued basis that are subsequently sold for settlement into the regular market is the normal margin required for a short position in the security.

    3. Dealer Member inventory margin shall be posted on the trade date of the purchase.

    4. Client account margin shall be posted on the second settlement day after the trade date of the sale.

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    There is no history log for this rule.