Margin recognition for early pay in positions permits treating margin exemption or early paid in goods value as supporting margins. For calculating residual losses under the stress testing methodology, where clients or brokers have given early pay in and margin exemptions are granted, Clearing Corporations may consider the margin exemption granted or the value of the early paid in goods, whichever is lower, as the margins supporting those positions.
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Provisions expressly mentioned in the judgment/order text.
Margin recognition for early pay in positions permits treating margin exemption or early paid in goods value as supporting margins.
For calculating residual losses under the stress testing methodology, where clients or brokers have given early pay in and margin exemptions are granted, Clearing Corporations may consider the margin exemption granted or the value of the early paid in goods, whichever is lower, as the margins supporting those positions.
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