Margin I: Introduction to Margin Regulation
This series covers margin accounts and requirements, and explains the rules and regulations governing trading equities and bonds on margin. Topics covered include liquidations, withdrawals, substitutions and SMA accounts. The series is intended for margin, compliance, and credit control personnel, as well as operations professionals who interface with margin/credit functions. A Core NYIF curriculum.
This curriculum is made up of the following modules:
- Introduction to Margin Requirements
- Margin Transactions
- Margin Calls
- Margin Requirements for Day Trading and Bonds
| Program Level | Basic |
| Prerequisites | This course has no prerequisites. |
| Advance Preparation | No advance preparation required. |
| Recent Revision Date | January 20, 2015 |
| Instructional Delivery Method | QAS Self Study |
| Field of Study | Specialized Knowledge and Applications |
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Duration : 1 hour
- Defining margin
- Brief history of margin regulations
- Types of accounts and marginable securities
- Risks and benefits of using margin
- The margin agreement
Duration : 2 hours
- Basic margin account requirements
- Computation of Regulation T and maintenance excess
- Special memorandum account
- Liquidations, withdrawals and substitutions
Duration : 2 hours
- Maintenance calls on long positions
- Maintenance calls on short positions
- Buying power
- Meeting Regulation T and maintenance calls
- Functions of the margin department
Duration : 1 hour
- Day-trading requirements and margin calculations
- Margin requirements for bonds (convertibles, exempt securities, and non-convertibles)
- Restricted accounts