Recordkeeping; Amendments to the Daily Computation of the Amount of Customer Funds Required To Be Segregated

摘要

The Commodity Futures Trading Commission ("Commission") is proposing to amend Commission Rule 1.32 to permit a futures commission merchant ("FCM"), in computing the amount of customer funds required to be held in segregated accounts pursuant to section 4d(2) of the Commodity Exchange Act ("Act"), to offset a net liquidating deficit or debit ledger balance in a customer's account with securities that have a "ready market" as defined by Rule 15c3-1(c)(11) of the Securities and Exchange Commission ("SEC") and that are deposited as margin by such customer.\1\ The proposal would limit the amount of the offset to the market value of the securities, less the applicable haircuts set forth in SEC Rule 15c3-1(c)(2)(vi). The FCM would also be required to maintain a security interest in the securities, including a written authorization to liquidate the securities at the FCM's discretion, and to segregate the securities in a safekeeping account with a bank, trust company, clearing organization of a contract market, or another FCM. ---------------------------------------------------------------------------