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BACKGROUND This invention relates to commercial systems. A traditional futures exchange is a membership structure that only allows trading through members. Traditional markets have clear customers, members and members. The financial support of a traditional scholarship is also provided by members. Members provide capital and once a trade is concluded, a clearing member will take over the trade. Some exchanges only allow clearing members to trade. Other exchanges allow anyone to trade as long as a clearing member supports the person. In other words, a clear member may have clients who have accounts with the clear member. The customer uses the clear member`s credit to act and the customer has no direct access to the market. Contracts is set at $532 to $6000.
The merchant`s deposit account is exactly $6,000, so clearing house 534 allows trading. All contracts have an initial margin that is not less than three times the daily price limit, which is the maximum loss that could occur in two consecutive trading sessions. The previous regulation for five-year bonds was 92.00. Assuming the trading margin for the day is between 91.80 and 92.20 (20 basis points). The trader sells 536 a contract at 91.80 (downlink) and the market expects 92.20 (limit up). The maximum loss a trader could incur on the first day of trading is double the daily price limit (for example.B. a sale at 91.80 with a closing price at 92.20 or a buy at 92.20 and a closing price at 91.80). At the end of the first trading session, the trader will receive a margin call corresponding to the loss of 4,000 USD ■ 538.
All system contracts are put on the market on a daily basis. The system requires the dealer to have $10,000 ($4,000 loss plus $6,000 initial margin) in their deposit account up to 9 a.m. the next day 539. The model retailer does not have to complete its deposit account with the 4,000 $US and is therefore late. Entity, 222b or other conditions 222c. In addition, the risk management system includes a real-time or near real-time credit quality verification process 224, which verifies subscriber positions and available assets. The 224 credit check process reviews the credits, positions and assets available when collecting orders, significant market movements and at the end of each trading day. The contract specification for detel oil futures contracts requires a daily payment of the variation margin. Therefore, the 11 clearing process 30 system debits 520 Company Inc.`s subcusdial account of $50. In the event that Company Inc. the Exchange informs 522 subscribers of a payment request that must be satisfied no later than the next morning.
Otherwise, the standard procedure described below would be triggered. System 11 has no margin amounts for the maintenance level of its customers. All Margin Calls variations must be satisfied regardless of the amount. B5. Can I submit royalties on the EFS web? Yes, unregistered and registered users can file filing fees (e.g. B basic filing fees, search and examination fees and excess claims fees) via online fee payment on the EFS web at the time of filing a patent application or request for reconsideration. Only registered users can submit the payment of fees as part of a pre-submitted application or verification procedure. .