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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Calendar spread margin benefit for single stock derivatives restricted on expiry day, requiring full margins or roll/close of expiring legs.</h1> Calendar spread margin benefit for single stock derivatives shall not be available on the day of expiry for contracts expiring that day; this removes offsetting across different expiries where one leg expires that day and thereby requires trading members and end clients to provide full margins or roll/close positions for the expiring leg. Calendar spread margin calculations remain unchanged for spreads that do not include a contract expiring that day, so non-expiring-leg spreads continue to receive offset treatment. The change aligns single stock treatment with index derivatives, takes effect three months from the circular date, and requires exchanges and clearing corporations to amend systems and byelaws for implementation.
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