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MarginClearing Margin

Clearing Margin Requirement

  • Clearing Margin, which a Clearing Participant deposits with JSCC, consists of Clearing Margin for Proprietary Position and Clearing Margin for Customer Position.

Clearing Margin for Proprietary Position

  • Clearing Margin Requirement
    The required amount of Clearing Margin for proprietary position shall be calculated by subtracting/adding the total net option value of its position from/on the amount of the portfolio risk of proprietary position on Futures and Options, which is calculated via SPAN®.
  • Margin Requirement Add-on
    When the Clearing Participant’s proprietary position is extremely large in light of liquidity or position concentration, JSCC will charge margin requirement add-on for the Clearing Participant’s proprietary trades.
  • Deposit of Clearing Margin in Foreign Currency Foreign currency cash can be deposited as Clearing Margin for proprietary trades.
  • Securities in lieu of cash for Clearing Margin (Collateral Securities)
    Securities may be deposited as Clearing Margin for Proprietary Position.
  • Additional deposit of Clearing Margin
    In the case where the amount of Clearing Margin for Proprietary Position deposited with JSCC falls short of the required amount, additional Clearing Margin that is greater than the shortfall shall be deposited with JSCC by 11:00 am on the day after such shortfall occurred.
  • Intra-Day Margin Call
Please see here for Intraday Margin Call
Please see here for Emergency Margin Call

Clearing Margin for Customer Position

The required amount of Clearing Margin for customers’ position shall be the aggregate amount of each customer’s required amount of Clearing Margin for Futures and Options.

  • Margin Requirement Add-on
    When each customer’s position is extremely large in light of liquidity or position concentration, JSCC will charge margin requirement add-on for the customer's trades. For deposit of such add-on, please ask your securities companies.
  • Deposit of Clearing Margin in Foreign Currency
    Foreign currency cash can be deposited as Clearing Margin for customer trades.
  • Securities in lieu of cash for Clearing Margin (Collateral Securities)
    Securities may be deposited as Clearing Margin for customers’ position.
  • Additional deposit of Clearing Margin
    In the case where the amount of Clearing Margin for customers’ position deposited with JSCC falls short of the required amount, additional Clearing Margin that is greater than the shortfall shall be deposited with JSCC by 11:00 am on the day after such shortfall occurred.
Please see here for the position recognition period for Margin calculation