Regulatory Notice 09-53

Increased Margin Requirements for Leveraged Exchange-Traded Funds and Associated Uncovered Options

Effective Date: December 1, 2009

Effective December 1, 2009, FINRA is implementing increased customer margin requirements for leveraged ETFs and uncovered options overlying leveraged ETFs, in accordance with NASD Rule 2520 and Incorporated NYSE Rule 431.

Questions concerning this Notice should be directed to:

  • Rudolph Verra, Managing Director, Risk Oversight and Operational Regulation, at (646) 315-8811;
  • Glen Garofalo, Director, Credit Regulation, at (646) 315-8464; or
  • Steve Yannolo, Principal Credit Specialist, Credit Regulation, at (646) 315-8621