5710. Agreement and account requirements

A Dealer Member writing exchange-traded options on behalf of a client must:

1. do so in a margin account and must have and maintain a written margin account agreement, or

2. for registered accounts that may engage in certain trades involving exchange‑traded options, have and maintain a written account agreement defining the rights and obligations between them relating to transacting in exchange-traded options.

A Dealer Member writing over‑the-counter options on behalf of a client must do so in a margin account.

A Dealer Member writing and issuing or guaranteeing over‑the‑counter options on behalf of a client must either:

1. have and maintain with that client a separate written margin agreement defining the rights and obligations between them relating to transacting in over‑the‑counter options, or

2. have and maintain with that client a supplementary over‑the‑counter options agreement defining the rights and obligations between them relating to transacting in over‑the‑counter options.