No Participant or associated person may effect a transaction or carry an account for a Customer, whether a Participant or non-Participant of BX Options, without proper and adequate margin in accordance with this Options 6D, Section 4 and Regulation T.
Adopted October 23, 2019 (SR-BX-2019-039).
The amount of margin required by this Options 6D, Section 4 shall be obtained as promptly as possible and in any event within a reasonable time.
(a) A Participant or associated person must be bound by the initial and maintenance margin requirements of either the Chicago Board Options Exchange ("CBOE") or the New York Stock Exchange ("NYSE") as the same may be in effect from time to time.
(b) Such election shall be made in writing by a notice filed with BX Regulation.
(c) Upon the filing of such election, a Participant or associated person shall be bound to comply with the margin rules of the CBOE or the NYSE, as applicable, as though said rules were part of these Rules.
(a) The amount of margin prescribed by these Rules is the minimum which must be required initially and subsequently maintained with respect to each account affected thereby: but nothing in these Rules shall be construed to prevent a Participant or associated person from requiring margin in an amount greater than that specified.
(b) BX Options may at any time impose higher margin requirements with respect to such positions when it deems such higher margin requirements to be advisable.
Adopted January 29, 2020 (SR-BX-2020-001).