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TRIANGLE MULTI MEDIA (QBID) III
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[QUOTE]Originally posted by U4TSAF2: [QB] Effective September 28, 2001, the NASD enacted changes to day-trading margin requirements, which may affect your account. The NASD provides that a pattern day trader is any account that executes four or more round-trip day trades within any rolling five-business-day period, If activity in your account is classified as "pattern day trading," you may be subject to the following restrictions: Minimum Equity Requirement – A pattern day trader's account must maintain a minimum equity of $25,000 at the start of any day in which day trading occurs. Pattern day-trader accounts that fall below the $25,000 minimum equity requirement should consider limiting day-trading activities to cash-only transactions until the minimum equity amount is reached in order to avoid a day-trading buying power call. Day-Trading Minimum Equity Call – If your account has less than $25,000 equity and is identified as a pattern day-trading account, a day-trading minimum equity call will be issued. Pattern day-trader accounts that fall below the $25,000 minimum equity requirement should consider limiting day-trading activities to cash-only transactions until the minimum equity amount is reached in order to avoid a day-trading buying power call. Funds deposited in an account to satisfy a day-trading minimum equity call are subject to our 10-business-day hold policy with the exception of wires, which must remain in the account for two business days. [/QB][/QUOTE]
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