Margins
Margin sheets are updated regularly, and are provided as a quick indication of current margins,
however in times of volatility margins can change quickly and it is prudent to check with your account
executive for the latest rates. Day trade margins are usually 50% of the overnight rate.
All margin calls must be met on the same day that the call is
made. If an Order Specialist is unable to contact you on the
telephone number that you have provided, we will offset a proportion
of your position or all of it. This will ensure that any remaining
positions are fully margined. A Margin Call must be answered
with a Wire Transfer. A personal cheque or cash cannot be accepted.
Delivery Month Margins become effective on either the first
business day or when the contract becomes the front traded month
or when a trading limit is removed from the contract, whichever
event precedes the other. For the offsetting of positions, this
is done on "a first in, first out basis." The exception
to this rule is when a contract that is entered today is the
same as another one that is already held. In this situation,
today's new trade will be the first to be offset. If a Client
holds two accounts, the Client cannot be long and short of identical
futures contracts in the two different accounts simultaneously
unless the "spread" is considered to be a day trade
only.
The information contained herein was provided by sources which
we believe to be accurate and reliable. MF Global UK Ltd. makes
no guarantees explicit or implied as to its accuracy. Margins
are subject to change without notice. Contact your MF Global Direct
Order Specialist or Account Executive for the latest information.
Margin calls will be verbal only and must be satisfied by wire
transfer or banker's draft. Large positions concentrated in
a single market may be subject to higher margin requirements.
MF Global Direct reserves the right to verify all orders entered during
the night before they are executed. Past performance is no guarantee
of future results and will not necessarily be repeated. Seasonal
trades merely attempt to identify a seasonal tendency and should
not be construed as an offer or solicitation to buy or sell
any investment. Your investment may be affected by exchange
rate variations. Trading futures involves the risk of loss.
You may lose more than the amount originally invested and you
may have to pay more later. You should not invest in such products
unless satisfied that they are suitable for you. MF Global Direct
or its associates may have already undertaken or may in future
undertake an own account transaction in respect of any future.
MF Global Direct or its associates may have a position or holding
in the product concerned or in a related product and has or
may have a material interest in such products. The market opinions
and recommendations expressed herein are those of MF Global Direct
and are not necessarily those of any other entity within MF Global Ltd.
The above figures do not allow for brokerage
or slippage on entry or exit. MF Global Direct is a trading name of MF Global UK Ltd., which is authorised and regulated by the Financial Services
Authority for futures trading.
Please note: If your account is on margin call from the previous
day's close of business, day trade initial margins are not available.
