Networth and deposit framework revised; electronic gold receipt segment and professional clearing member introduced, affecting capital and client fund treatment. The amendments create a defined category of professional clearing member, add an electronic gold receipt segment with specified transactional fee treatment, and replace Schedule provisions to set base and variable networth and deposit requirements for trading members, self-clearing members, clearing members and professional clearing members. Members must meet either base or variable networth, client funds deposited downstream are excluded or included in variable networth computations as specified, and explanations clarify permissible components and exclusions from base networth and free reserves, with Board discretion preserved.
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Networth and deposit framework revised; electronic gold receipt segment and professional clearing member introduced, affecting capital and client fund treatment.
The amendments create a defined category of professional clearing member, add an electronic gold receipt segment with specified transactional fee treatment, and replace Schedule provisions to set base and variable networth and deposit requirements for trading members, self-clearing members, clearing members and professional clearing members. Members must meet either base or variable networth, client funds deposited downstream are excluded or included in variable networth computations as specified, and explanations clarify permissible components and exclusions from base networth and free reserves, with Board discretion preserved.
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