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There are changed the Rules of making margin deals


There are changed the Rules of making margin deals
2009-06-04 08:00

NEWS OF THE FEDERAL LEGISLATION

There are changed the Rules of making margin deals

The Order of the Federal Service for Financial Markets of Russia N 09-13/ps-n of April 9, 2009 (document is in Russian) has made the amendments to the Rules of carrying out of broker activities when making deals on the security market using the money and /or securities given by the broker to the client as a loan (marginal deals) approved by the Order of the Federal Service of Financial Markets of Russia N 06-24/pz-n of March 7, 2006 (document is in Russian), which have itemized the broker rights on making margin deals and not secured deals of securities sale. Now a broker has no right to make such deals at the price which is 3% lower than the previous deal or lower than closing price calculated by trade organizer, and so there are determined the cases when such restriction is not applied. In should be noticed that earlier a broker can not to make sale at the price lower than 5% of the previous trade day price.

Besides the amendments has established that now a broker has the right to cove additional demands to calculation of sizes of a client monetary funds sums and market cost of client securities in the contract with client.


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