Parameter

Securities

Commodities

Net Liquidation Value

Total cash value + stock value + securities options value + bond value + fund value.

Total cash value + futures P&L + commodities options value.

Equity with Loan Value

Cash Account:  Settled Cash.

Margin Account:
Total cash value + stock value + bond value + fund value + European & Asian options value.

Cash Account: Total cash value + commodities option value - futures maintenance margin requirement + minimum (0, futures P&L).

Margin Account:  Total cash value + commodities option value - futures maintenance margin requirement.

Previous Day Equity with Loan Value

Marginable Equity with Loan Value as of 16:00 ET the previous day.

Not applicable.

Reg T Equity with Loan Value

Cash Account:  Settled Cash.

Margin Account:
Total cash value + stock value + bond value + fund value + non-U.S. & Canadian securities options value.

Cash Account: Total cash value + commodities option value - futures maintenance margin requirement + minimum (0, futures P&L).

Margin Account:  Total cash value - futures maintenance margin requirement.

Special Memorandum Account

Max ((EWL - US initial margin requirements)*, (Prior Day SMA +/- change in day's cash +/- US initial margin requirements** for trades made during the day.))

*calculated end of day under US Stock rules, regardless of country of trading.

**at the time of the trade

Not applicable.

Securities Gross Position Value (GPV)

Long Stock Value + Short Stock Value + Long Option Value + Short Option Value + Fund Value

Cash

Settled cash + sales at the time of trade

Settled cash + sales at the time of trade + futures P&L

Settled Cash

Cash recognized at the time of settlement - purchases at the time of trade - commissions - taxes - fees.

• Stock Settlement: Trade date + 3 days

• Options Settlement: Trade date + 1 day

Same as for Securities.

• Futures Settlement: Trade date + 1 day

Accrued Interest

Interest that has accumulated but has not been paid or charged.

Same as for Securities.