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Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: Glenn who wrote (5652)	11/8/1998 8:07:00 PM
From: Char	Respond to of 7247

Glenn One thing to remember if you are using MB Trading is if you get a margin call, you have to come up with the money or your account will be closed and you will be out of business. Just a little something to consider. The following is from MB Trading's Margin Tutorial. <When are Margin Calls Due? Margin calls are due on settlement date (T+3). An extension can be granted for up to two days past settlement date (T+5). Only an infusion of money, either by wire-in, journal transfer or check deposit into the account can cover a margin call. A Trader cannot liquidate to cover a call on a Daytrading account. If either a Trading Call or a Reg T Call has not been met by 3:00 p.m. on the Reg T date (T+5) the account will be coded NMB (no more business) before the open the next morning. If the account is coded NMB due to a margin call not being met, the account cannot be re-opened in the future for any reason other than to liquidate open positions. There is no "90 day freeze", or "three strikes, you're out". The account is closed indefinitely, and the Tax I.D. number(s) associated with the account(s) cannot be used to open another account at Southwest Securities.> Dave