Clearing, Settlement and Custody

Intra-day margins can be called from the clearing members by the

clearing house up to any time as determined in their rules. The

clearing members must pay the required amount to the clearing

house. However, depending on the time of day that the call is made,

it may be difficult for the clearing member to receive the funds from

their clients. They must endeavour to receive the funds and at the

very least must contact the client and let them know that additional

funds are due. In this respect, it is necessary that the clearing member

is able to recalculate margin requirements during the day on their

own systems so that they may see accurately which clients ...