New Margin Requirements
Due to recent market conditions, Datek Online raised the minimum maintenance requirements for select volatile stocks and all short positions. In addition, the equity account ratio at which positions in a margin-enabled account may be closed out has been increased to approximately 10% from 5%.
We raised the minimum maintenance requirement for certain securities from 30% to 50%. To view a list of these securities, please refer to volatile stocks in the Portfolio area of our Helpdesk.
Due to recent market conditions, Datek Online raised the minimum maintenance requirements for select volatile stocks and all short positions. In addition, the equity account ratio at which positions in a margin-enabled account may be closed out has been increased to approximately 10% from 5%.
We raised the minimum maintenance requirement for certain securities from 30% to 50%. To view a list of these securities, please refer to volatile stocks in the Portfolio area of our Helpdesk.
For all short securities trading above $5.00 per share, the maintenance requirement has been raised to the greater of $5.00 per share or 30% of the current market value. If the short market value is below $5.00 per share, the maintenance requirement becomes the greater of $2.50 per share or 100% of the current market value.
Lastly, if at any time your account falls below approximately 10% equity, or if market conditions warrant, Datek Online reserves the right to immediately close out some or all of your positions with or without notice, at our sole discretion.
If we can provide you with further information please contact our Customer Support Team at 1-888-Go-Datek (463-2835) or e-mail margin@datek.com. Thank you.
Sincerely,
Margin Department
Datek Online Brokerage Services Corp.
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