|
3
|
A principal's Settlement shall be included in the single-day trading limit, provided the amount of any reverse order to purchase and short-sell securities with the margin loan is included, and the amount offset shall not be credited back for revolving uses on the same day.
If the securities firm, pursuant to relevant regulations, does not establish a single-day trading limit for the principal and the principal engages in the Settlement, it shall separately establish a Settlement limit and comply with the following rules:
- The monetary amounts of opposite offsetting orders executed in the Settlement may not exceed the Settlement limit; new positions of margin purchases, short sales and cancelled orders shall not be included in the Settlement limit, and that the amount offset may not be credited back for revolving use on the same day.
- If the principal is qualified to engage in both the Settlement and day trades of securities, the day trading limit shall include the Settlement limit. The total sum of sell orders for day trades plus the monetary amounts of opposite executed in the Settlement may not exceed the day trading limit.
- The monetary amounts of opposite offsetting orders by a principal executed in the Settlement during after-hours fixed-price trading shall be included in the calculation toward the Settlement limit and the day trading limit, provided . However, the monetary amount of unexecuted opposite offsetting orders of the Settlement during normal trading hours is not included.
|