Incremental ALBM Margin: higher additional margins apply when ALBM positions breach thresholds; other exchanges must mirror the levy. The corrigendum prescribes an Incremental ALBM Margin: when an exchange's ALBM position in a scrip exceeds specified market-position or deferred-net-position parameters, an additional margin must be levied in addition to the ALBM margin, charged at the higher of the two rates set by reference to net outstanding market position bands and deferred net position percentages. Positions of pure securities borrowers are excluded where collateral is held with the clearing house. An incremental margin imposed by one exchange will be followed by other exchanges with ALBM or MCFS from the next settlement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Incremental ALBM Margin: higher additional margins apply when ALBM positions breach thresholds; other exchanges must mirror the levy.
The corrigendum prescribes an Incremental ALBM Margin: when an exchange's ALBM position in a scrip exceeds specified market-position or deferred-net-position parameters, an additional margin must be levied in addition to the ALBM margin, charged at the higher of the two rates set by reference to net outstanding market position bands and deferred net position percentages. Positions of pure securities borrowers are excluded where collateral is held with the clearing house. An incremental margin imposed by one exchange will be followed by other exchanges with ALBM or MCFS from the next settlement.
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